Uncommon Knowledge: Trump’s Tariffs Showdown at Supreme Court Has a Twist

A funny thing has happened since “Liberation Day.” As Donald Trump’s tariffs ricochet through global supply chains and into the Supreme Court, one line in the federal ledger jumps off the page: by the end of fiscal year 2025, the U.S. collected $194.9 billion in net customs duties—and consumers are paying the price. The Court, meanwhile, is weighing whether Trump can impose such sweeping levies under an emergency statute. The legal fight isn’t about climate. But the numbers suggest a side effect few have clocked: tariffs that penalize carbon-heavy imports can behave a lot like a carbon tax—without anyone calling…