Washington DC - President Donald Trump's administration asked the US Supreme Court on Wednesday for an expedited ruling preserving the tariffs that have roiled global markets.

As hinted at by Trump, solicitor General John Sauer urged the court in a filing to "expedite resolution of this case to the maximum extent feasible, given the enormous importance of quickly confirming the full legal standing of the President's tariffs."

The petition comes after a 7-4 ruling by the US Court of Appeals for the Federal Circuit, which found that Trump exceeded his authority in tapping emergency economic powers to impose wide-ranging duties.

The judges, however, allowed the levies to stay in place through mid-October, giving Trump time to take the fight to the Supreme Court.

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Since returning to the presidency, Trump has invoked the International Emergency Economic Powers Act to impose "reciprocal" tariffs on almost all US trading partners, with a 10% baseline level and higher rates for dozens of economies including the European Union and Japan.

The US president tapped similar powers to slap separate tariffs on Mexico, Canada, AND China.

The appeals court ruling also cast doubt over deals Trump has struck with key trading partners like the EU, raising the question of what would happen to the billions of dollars collected by the US since the tariffs were put in place.

Several legal challenges have been filed against the tariffs. If they are ultimately ruled illegal, companies could potentially seek reimbursements.

On Tuesday, Trump told reporters that "if you took away tariffs, we could end up being a third-world country."

In a declaration filed with the petition, Treasury Secretary Scott Bessent warned that the appellate court's decision "gravely undermines the President's ability to conduct real-world diplomacy and his ability to protect the national security and economy of the United States."

Bessent said that "world leaders are questioning the President's authority to impose tariffs, walking away from or delaying negotiations," adding that the ruling had stripped the administration of "substantial negotiating leverage."

He also warned that delaying a final ruling until June 2026 could result in a scenario where "$750 billion-$1 trillion in tariffs have already been collected, and unwinding them could cause significant disruption."