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Topics: Donald Trump, US News, Politics, Money
Rhianna Benson
Topics: Donald Trump, US News, Politics, Money
President Trump has urged the Supreme Court to vote in his favour this week, warning that rejecting reciprocal tariff policies he hopes to implement would leave the country 'screwed'.
Officials will rule on Wednesday (14 January) whether the sweeping tariffs the Republican leader introduced in April of last year using his emergency powers should still legally stand.
This not only includes a 10 percent baseline for the majority of the world, but higher rates for nations with which America endures a trade deficit.
The tariffs Trump has already implemented have been used to pressure a large number of trading partners into strict concessions. These include promises to invest in the US economy and reduce trade barriers on American goods, and also came with increased rates on their own products.
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The Supreme Court will vote as to whether Trump's enactment of these tariffs under the International Emergency Economic Powers Act was constitutional or otherwise.
Providing an update on Monday (12 January), the 79-year-old warned that America would be 'screwed' if the Supreme Court ruled against him, claiming the country's federal agencies would be forced to 'pay back' billions in revenue.
Taking to Truth Social, Trump penned: "[I]f the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!"
He continued: "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.
"[A]nd 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."
The president went on to argue this would result in a 'complete mess', and would leave it 'almost impossible' for the country to pay the 'Trillions of Dollars!'.
"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," Trump continued.
"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."
Even if the Supreme Court decides to rule against Trump, a large number of his other tariffs will continue.
These include a tariff on vehicles and car parts of up to 25 percent, his 10 percent fentanyl tariff against China, and staggering 50 percent tariffs he has imposed on copper, steel, and aluminium - all of which were previously enacted under different legal figures.
At the prospect of his reciprocal tariffs being shut down, Trump's administration has vowed to seek their resurrection using a different set of legal justifications.
It went on to warn, however, that this would still result in the government having to repay $150 billion.