Trump’s Supporters Should Be Careful What They Wish For

Oct 30, 2025

Simon Johnson

and Stan A. Veuger

If the US Supreme Court upholds President Donald Trump's use of the International Emergency Economic Powers Act to impose tariffs on US allies and adversaries alike, it will hand a loaded gun to future presidents. Why couldn't an administration use IEEPA tools to enforce a global minimum corporate tax or effectively ban crypto trading?

WASHINGTON, DC – On November 5, the US Supreme Court will hear oral arguments in a case challenging President Donald Trump’s “reciprocal tariffs.” As we have argued in an amicus brief signed by dozens of economists representing a wide range of ideological, partisan, and professional backgrounds, the Court should side with the lower courts and declare the tariffs unlawful.