US President Donald Trump has warned that the abolition of tariffs, which he has introduced since his return to office, could cost the country more than three trillion dollars (2.59 trillion euros). A negative decision by the Supreme Court would mean that losses, including realized and planned investments, would exceed three trillion USD, which would “devastating effect on the future of our country”Trump wrote on the Truth Social social network on Tuesday. TASR informs about it based on the report of the TASS agency.
In the first hearing on the tariffs at the US Supreme Court last week, some justices expressed doubts about Trump’s authority to issue tariffs based on national security legislation. The Supreme Court is hearing the case after a federal appeals court ruled in late August against business representatives who challenged the tariffs as illegal and damaging to their businesses. In early September, the Trump administration asked the Supreme Court to overturn the decision.
Tariffs have become a central pillar of Trump’s foreign policy in his second termwhile introducing double-digit reciprocal tariffs for most trading partners. He justified these measures by the long-term deficit in trade with them. (1 EUR = 1.1571 USD)
