The Supreme Court has set Nov. 5 as the date for oral arguments in two consolidated legal challenges to President Donald Trump’s reciprocal tariffs, a ruling that could shape the limits of presidential powers on matters of trade.
The high court had already agreed earlier this month to take up the issue, with Wednesday’s order fixing the timetable for what could be one of the most consequential trade cases in decades.
The eventual ruling could have sweeping economic consequences, reshaping U.S. trade flows and federal revenue. The United States reported a record $31 billion in monthly tariff revenue in August, under trade policies implemented by Trump. Besides generating revenue, the tariffs have also given the administration leverage to extract economic concessions from trading partners….