The Globe and Mail reports in its Friday edition that a U.S. Supreme Court decision on President Donald Trump's use of emergency tariff powers could impact financial markets, especially if the tariffs are struck down. A Reuters dispatch to The Globe reports that the case will determine if Mr. Trump can use the International Emergency Economic Powers Act to impose tariffs without Congress's approval. During November arguments, the justices expressed skepticism about Mr. Trump s authority to impose the tariffs, with online betting markets assigning a 30-per-cent chance that the court will uphold them. Abolishing the tariffs might reduce government revenue, raise Treasury yields and cause increased volatility in equity markets, analysts and investors warned. KEY Advisors Eddie Ghabour says paying back all the tariffs would be a major headwind for markets. When Mr. Trump announced tariffs last April, stocks fell nearly 5 per cent and Treasury yields initially tumbled. JPMorgan has estimated that annualized tariff revenue could drop to about $250-billion from about $350-billion as the administration pivots to alternative legal avenues that would impose lower rates, reviving worries about the U.S. fiscal outlook.