Toy Company Takes on Trump's Tariffs in Supreme Court Battle

An Illinois toy company is battling President Trump's tariffs in the Supreme Court in a bid to have them declared illegal. Learning Resources Inc argues that the Republican president's application of the tariffs under emergency powers bypasses the necessary congressional approval.

Despite securing an early win in a lower court, the ruling is on hold pending an appeals court decision that could place a broader block on the tariffs. The appeals court is allowing Trump to continue collecting the tariffs while arguments progress, leaving many businesses in financial uncertainty.

CEO Rick Woldenberg highlighted the adverse impacts of tariffs and an uncertain market on the toy company's future, especially with significant financial stakes tied to the upcoming back-to-school and holiday sales periods. The case underscores tensions over trade policies that have nationwide economic ramifications.

(With inputs from agencies.)