The Canadian Press: The U.S. Supreme Court is set to hear arguments next week from businesses and states that say Trump’s use of a national security statute — the International Emergency Economic Powers Act of 1977 — to hit nearly every nation with tariffs is illegal.
The act, usually referred to by the acronym IEEPA, gives the U.S. president authority to control economic transactions after declaring an emergency. It does not mention the word tariff and the U.S. Constitution reserves power over taxes and tariffs for Congress…