US EditionDonald Trump Issues $3-Trillion Warning over Supreme Court Tariffs Decision
Trump warns of a $3 trillion economic and national security risk if tariffs imposed under emergency powers are ruled illegal, with plans to use revenues for $2,000 dividends and debt reduction.
- On Nov 10, President Donald Trump warned the United States faced an economic and national security disaster if the U.S. Supreme Court ruled against his tariffs, saying it would cost $3 trillion.
- The Supreme Court is weighing whether Mr Trump exceeded presidential authority under the 1977 International Emergency Economic Powers Act after challenges from a group of small businesses and states and lower courts ruled the measures unconstitutional.
- Government data as reported in Newsweek show tariffs raised nearly $195 billion this year, and Justice Amy Coney Barrett warned refunds to US importers could `be a mess`.
- A ruling could expand emergency economic powers if in Trump's favor, or unravel trade deals negotiated under the tariff framework and disrupt fiscal projections tied to tariff revenue; the Supreme Court's expedited schedule could yield a decision as soon as December.
- Mr Trump has proposed issuing a US$2,000 dividend to lower- and middle-income Americans funded by tariff revenue, saying proceeds will help pay down US debt $37 Trillion amid a 3.0 per cent Consumer Price Index rise and weakening poll numbers.
19 Articles
19 Articles
Trump warns of economic disaster if Supreme Court rejects tariffs | Honolulu Star-Advertiser
WASHINGTON >> President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.
American Lookout
Trump Says Supreme Court Was Given Wrong Numbers In Tariff Case, Issues Warning
The Supreme Court is weighing Donald Trump’s authority to impose tariffs. The arguments started on November 5th. Newsweek reported: The Supreme Court is weighing up whether Trump has the authority to impose the wide-reaching raft of tariffs that have become a linchpin of his administration’s foreign policy. Lower courts have deemed the economic measures an overreach of power by the president without Congressional approval. The Supreme Court’s de…
Hawaii Tribune-Herald
Trump says US faces ‘economic disaster’ if Supreme Court rules against tariffs
WASHINGTON — President Donald Trump said on Monday the United States faced an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country. Trump said his administration planned to issue a $2,000 payment to lower- and middle-income Americans using the tariff dividends, while using the remaining proceeds to lower U.S. debt. Trump, who has prev…
Trump Warns of ‘Devastating’ $3 Trillion Hit If Supreme Court Overturns His Tariff Powers
(AP Photo/Evan Vucci) President Donald Trump warned that a looming Supreme Court ruling could cost the United States “in excess of 3 Trillion Dollars” if justices strike down his authority to impose sweeping tariffs, a move he said would be “devastating” for the economy. The court is considering whether Trump exceeded his presidential powers under the International Emergency Economic Powers Act, which he invoked to justify a raft of tariffs cent…
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