Ahead of a Supreme Court case on Wednesday to decide the legality of the Trump administration’s tariffs, President Trump has warned that the U.S. would be “defenseless” without them.
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“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 defenseless!” Trump said in a Truth Social post.
Trump Highlights Stock Market Gains amid Tariffs
Trump added that amid his tariff policy, stocks have elevated to all-time highs, while inflation has remained contained. In addition, he said that he would not attend the case in person, warning that the U.S. “could be reduced to almost Third World status” if the tariffs are overturned. In that scenario, the U.S. would likely be on the hook for billions of dollars of tariff refunds.
Trump has cited the 1977 International Emergency Economic Powers Act (IEEPA) as the legal authority behind the tariffs. The Supreme Court’s decision is expected to have a major impact on U.S. trade policy and the future use of tariffs by the president.
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