President Trump has warned that the U.S. would be subject to “Hundreds of Billions of Dollars” of refunds if the Supreme Court rules against his tariffs. The legal precedent of the tariffs hinges on the International Emergency Economic Powers Act (IEEPA), which allows the president to impose tariffs to address national emergencies.
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“In other words, if the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!” Trump said in a Truth Social post on Monday.
Trump Administration Prepares Tariff Backup Plan
Trump added that the payback amount would surge to the trillion-dollar level when including the investments made by companies to sidestep tariffs.
The Supreme Court held an opinion day last Friday, although it didn’t provide a decision on the tariff case. The next earliest date that SCOTUS could issue a ruling is on Wednesday, January 14. Last week, National Economic Council Director Kevin Hassett said that the Trump administration has already begun looking into legal alternatives to justify the tariffs, such as Section 301 and Section 122 of the Trade Act.
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