|
US President Donald Trump described the upcoming Supreme Court case on tariffs as one of the most significant in American history, saying the decision would determine the country's economic strength and security.
The top court justices will hear the case on November 5. In a post on Truth Social, Trump wrote, "Next week's Case on Tariffs is one of the most important in the History of the Country. If a President is not allowed to use Tariffs, we will be at a major disadvantage against all other Countries throughout the World, especially the 'Majors.' In a true sense, we would be defenceless!" Trump said tariffs had contributed to "Great Wealth and National Security" during his presidency. "The Stock Market has hit All Time Highs many times during my short time in Office, with virtually No Inflation, and National Security that is second to none," he added. He cited the United States' recent trade negotiations with China and other countries as examples of how tariff leverage led to "fair and sustainable deals." "If a President was not able to quickly and nimbly use the power of Tariffs, we would be defenseless, leading perhaps even to the ruination of our Nation," Trump wrote, claiming opposition came from "Foreign Countries who for years have taken advantage of us, those who hate our Country and, the Democrats, because our numbers are insurmountably good." Trump said he would not attend the Supreme Court session personally, stating, "I will not be going to the Court on Wednesday in that I do not want to distract from the importance of this Decision." He wrote, "It will be, in my opinion, one of the most important and consequential Decisions ever made by the United States Supreme Court. If we win, we will be the Richest, Most Secure Country anywhere in the World, BY FAR. If we lose, our Country could be reduced to almost Third World status -- Pray to God that that doesn't happen!" According to a report by CNN, the case will consider whether Trump had the legal authority to impose tariffs by citing a law known as the International Emergency Economic Powers Act (IEEPA). Trump exercised those powers to raise import tariffs to as high as 50% on key trading partners such as India and Brazil, and up to 145% on China earlier this year. A ruling against the president does not mean the sudden cancellation of all tariffs in place, but the outcome could radically reshape Trump's economic strategy, CNN reported. As per CNN, Data from US Customs and Border Protection shows that by September 23, American companies had paid almost $90 billion in disputed IEEPA tariffs, more than half of all tariff revenue collected in fiscal year 2025, which closed on September 30. (ANI)
|
