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Supreme Court hears case on Trump’s use of emergency law for tariffs.

Lower courts ruled the 1977 law does not grant unlimited presidential power.

Case could impact $3 trillion in projected tariffs and the global economy.

Legal arguments involve nondelegation and major questions doctrines regarding executive authority .

President Donald Trump’s power to unilaterally impose far-reaching tariffs is before the Supreme Court on Wednesday in a pivotal test of executive power with trillion-dollar implications for the global economy.

The Republican administration is trying to defend the tariffs central to Trump’s economic agenda after lower courts ruled the emergency law he invoked doesn’t give him near-limitless power to set and change duties on imports.

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