Investing.com -- A coalition of business groups and conservative lawyers is preparing a legal challenge to the tariffs imposed by President Donald Trump, according to ABC.

The challenge is expected to be filed in the coming weeks, possibly as soon as this Friday. The argument against the tariffs is that President Trump lacks the legal authority to impose them. The Constitution grants Congress, not the president, the power to impose taxes and regulate trade.

In justifying these tariffs, President Trump referred to the 1977 International Emergency Economic Powers Act (IEEPA). This act empowers the president to regulate international commerce during a national emergency.

However, the IEEPA, which specifically mentions the power to impose sanctions and seize foreign assets, does not explicitly mention tariffs. Even if one interprets the right to impose tariffs as implied, it remains unclear what "national emergency" would justify the imposition of global tariffs.

A conservative lawyer close to President Trump expressed to ABC News that there is a strong argument that the tariffs imposed under the IEEPA are neither legal nor constitutional.

The lawyer further stated that the Constitution’s Article 1, Section 8 clearly grants Congress the power to impose duties, including tariffs. The combination of these two factors raises serious legal questions.

Citing a prominent legal figure close to Trump, ABC’s report said that there is "a very good chance" the U.S. Supreme Court would find Trump’s tariffs unconstitutional.