(AFP) – President Donald Trump said Monday that the United States would be “screwed” if the Supreme Court rules that some of his tariffs are illegal. Trump, in a post on Truth Social, said hundreds of billions of dollars would have to be paid back to US companies if the top court rules against his flagship economic policy.
“And that doesn’t include the amount of ‘payback’ that Countries and Companies would require for the investments they are making… for the purpose of being able to avoid the payment of Tariffs,” he said. “When these Investments are added, we are talking about Trillions of Dollars!” he said. “It would be a complete mess, and almost impossible for our Country to pay.”
“In other words, if the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!” Trump said. The Supreme Court plans to release opinions on Wednesday, and the tariffs case, which was argued in November, could potentially be among the rulings it hands down.
During oral arguments in the case, the justices appeared deeply skeptical of Trump’s use of emergency powers to impose “reciprocal” tariffs on nearly every US trade partner and levies targeting Mexico, Canada, and China over their alleged roles in illicit drug flows. Several of the six conservative justices, along with the three liberals, questioned whether the International Emergency Economic Powers Act (IEEPA) that Trump invoked confers the authority to impose tariffs.
The court’s decision does not concern sector-specific tariffs Trump separately imposed, including on steel, aluminum, and automobiles. Trump has brought the average effective US tariff rate to its highest since the 1930s and has repeatedly warned of calamity if the duties are overturned.
© 2024 AFP
