Trump Warns Supreme Court Ruling on Tariffs Could Cost U.S. Trillions
President Trump warned on Monday that the United States could face massive financial consequences if the Supreme Court invalidates his reciprocal tariff program, saying the country would be forced to return enormous sums collected under the policy and could be exposed to additional claims tied to business investments.
“[I]f the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!” Trump wrote in a post on Truth Social.
He said a negative ruling would not only require the government to refund tariff revenues already collected, but would also open the door to further financial obligations stemming from investments made by foreign governments and companies seeking to avoid the tariffs.
“The actual numbers that we would have to pay back if, for any reason, the Supreme Court were to rule against the United States of America on Tariffs, would be many Hundreds of Billions of Dollars, and that doesn’t include the amount of ‘payback’ that Countries and Companies would require for the Investments they are making on building Plants, Factories, and Equipment, for the purpose of being able to avoid the payment of Tariffs,” he wrote.
Trump argued that once those private-sector investments are factored in, the total exposure could reach staggering levels.
“When these Investments are added, we are talking about Trillions of Dollars! It would be a complete mess, and almost impossible for our Country to pay. Anybody who says that it can be quickly and easily done would be making a false, inaccurate, or totally misunderstood answer to this very large and complex question.”
He continued by saying that even determining the scope and mechanics of any repayment would be extraordinarily difficult.
“It may not be possible but, if it were, it would be Dollars that would be so large that it would take many years to figure out what number we are talking about and even, who, when, and where, to pay. Remember, when America shines brightly, the World shines brightly.”
The Supreme Court is expected to issue a decision as soon as Wednesday on whether Trump had the authority to invoke emergency powers to implement the tariff framework announced last April. That plan included a 10 percent baseline tariff on most imports, along with steeper rates imposed in August on countries running trade surpluses with the United States.
Trump relied on those authorities to pressure major trading partners into making concessions, including commitments to invest in the United States and to reduce barriers facing American exports, while maintaining elevated tariffs on their goods.
Even if the justices strike down the reciprocal tariffs, several other trade measures would remain in place, including tariffs of up to 25 percent on automobiles and 50 percent duties on copper, steel, and aluminum.
Administration officials have said that if the Supreme Court rules against the emergency powers justification, Trump would look to reimpose the reciprocal tariffs using alternative legal grounds.
{Matzav.com}
