Trump tariffs live updates: Supreme Court set to hear tariffs case in landmark test of presidential power

The US Supreme Court is set to meet on Wednesday to consider the legality of President Trump's global tariffs, in what many experts see as the next hurdle to face the US president and his tariff regime.

The court, which has a 6-3 conservative majority, has previously backed Trump in a series of decisions this year. It will hear the Trump administration's appeal after multiple lower courts ruled that the president overstepped his authority when imposing his "Liberation Day" tariffs back in April.

At stake is the legitimacy of the president's signature economic policy, with the outcome set to offer significant ramifications for the global economy and its businesses and consumers.

As Yahoo Finance correspondent Ben Werschkul has detailed, experts are split on the ultimate verdict the court will hand down. Trump, meanwhile, has made clear he considers the case to be of paramount importance to his legacy, even as his administration touts the other legal avenues he could use to impose the duties.

Trump on Tuesday said the case is "literally LIFE OR DEATH for our country."

Read more: What Trump's tariffs mean for the economy and your wallet

Here's what else to know on Trump's tariffs:

The US and China reached a trade truce last week. The thaw means China will suspend additional export controls on rare earth metals and end investigations into US chip companies. Meanwhile, the US will pause some of Trump’s "reciprocal tariffs" on China for another year and will halt plans to slap a 100% tariff on Chinese exports to the US. On Sunday, Trump said that the most advanced Nvidia (NVDA) chips will be reserved for US companies and kept out of China and other countries. A spat over an ad featuring the late Ronald Reagan continues between the US and Canada. The Canadian prime minister said recently he apologized to Trump over the ad. The US Senate has passed several resolutions that would end several of Trump's country-specific tariffs, in a rare rebuke of the president from several members of his own party.

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News and updates on President Trump's plans to impose tariffs on goods coming in from other countries.

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