FT News Briefing Supreme Court questions emergency Trump tariffs
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Nov 6, 2025 
In this discussion, Stefania Palma, U.S. legal correspondent for the Financial Times, shares insights on the Supreme Court's skepticism towards Trump's use of emergency tariffs. She highlights controversy surrounding the constitutional implications and potential economic fallout. Sujit Indap, Wall Street editor, delves into the dramatic First Brands bankruptcy, revealing shocking allegations of fraud and over $2 billion missing. He explains the competitive strategies creditors will employ as they navigate the unfolding financial turmoil.
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Milei Keeps Peso In Managed Bands
- Argentina's president Javier Milei will not let the peso float freely and will keep it in widening bands until 2027.
- He argues this will reduce chronic volatility, though critics say it has overvalued the peso and required heavy intervention.
Court Challenges Emergency Tariff Power
- The Supreme Court justices expressed broad skepticism about Trump's use of emergency powers to impose tariffs.
- The debate raises constitutional questions over Congress's tariff power and could threaten over $50bn in 2025 revenue.
Conservative Split Signals Uncertain Outcome
- Conservative justices showed a mixed reaction, with some open to the government's claim and others highly skeptical.
- That split suggests the outcome is uncertain despite expectations about conservative deference to executive power.