Morning Business Report: Supreme Court prepares to hear landmark Trump tariff case
In just days, the Supreme Court will begin hearing arguments in what President Donald Trump has called “one of the most important cases in the history of our country.”
(LILAMAX)- In just days, the Supreme Court will begin hearing arguments in what President Donald Trump has called “one of the most important cases in the history of our country.”
The case will determine whether Trump had the legal authority to impose broad tariffs on foreign imports. A ruling against the president wouldn’t immediately end the tariffs currently in place, but it could dramatically reshape his economic strategy and the way future administrations use trade policy as a tool for leverage.
Meanwhile, the financial impact of those tariffs continues to ripple through the economy. A new LendingTree analysis estimates they will add $40.6 billion to Americans’ holiday costs this year, with the average shopper paying about $132 more. Experts warn that could force families to cut back on gifts or increase credit card debt.
Markets ended the week higher, with Amazon leading gains after strong earnings. The S&P 500 climbed again, supported by historical trends — the Stock Trader’s Almanac shows November is typically the strongest month of the year for the market, averaging a 1.8% gain.
In other news, open enrollment for Affordable Care Act health insurance began over the weekend in most states. However, enrollees could see much higher premiums this year as enhanced subsidies remain tied up in the ongoing government shutdown.
And on the roads, a new State Farm study finds that nearly half of U.S. drivers have experienced a crash or near-miss due to distractions behind the wheel. Jon Wey, the company’s director of customer experience research, says drivers tend to be more distracted around the holidays, increasing risks for everyone.
According to the U.S. Department of Transportation, distracted driving accounts for 29% of all motor vehicle crashes each year — resulting in more than 10,000 deaths, 1.3 million injuries, and 5.6 million damaged vehicles nationwide.
