The U.S. Supreme Court is poised to deliver a significant ruling today, January 9, 2026, concerning the legality of broad tariffs implemented by former President Donald Trump. Multiple news organizations, including Reuters, NDTV Profit, and Hindustan Times, reported on January 6-9, 2026, that the Supreme Court had scheduled Friday, January 9, as an "opinion day" and was expected to release decisions in argued cases, with the Trump tariffs case being a highly anticipated one. The core issue revolves around President Trump's invocation of the International Emergency Economic Powers Act (IEEPA) of 1977 to levy widespread tariffs without explicit congressional approval. Lower courts have previously ruled that Trump exceeded his authority under this act, which was historically intended for sanctions and other economic restrictions during national emergencies. The stakes are substantial, with estimates suggesting that if the tariffs are struck down, the U.S. government could face demands for up to $150 billion in refunds from companies that paid these duties. This outcome would create significant administrative and financial challenges. Beyond the financial implications, the ruling will be a critical test of presidential powers, potentially reshaping how future administrations can utilize emergency authorities in trade policy. Conservative and liberal justices reportedly expressed skepticism about the legality of the tariffs during arguments heard on November 5, 2025. However, even if the Supreme Court invalidates the IEEPA-based tariffs, the administration retains other statutory tools for imposing trade restrictions. These include Section 232 of the Trade Expansion Act of 1962, which allows tariffs based on national security threats, and Section 301 of the Trade Act of 1974, used to address unfair trade practices. While these alternative mechanisms exist, they generally involve more specific criteria and procedural requirements than the broad authority claimed under IEEPA. The decision is expected to have far-reaching implications for global trade, economic stability, and the balance of power between the executive and legislative branches in the United States.