If the Supreme Court rules against the emergency tariffs enacted by the Donald Trump administration in a case now pending before the high court, the president says, “WE’RE SCREWED.”
On social media, the president wrote: “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, and 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.”
He said, “When these Investments are added, we are talking about Trillions of Dollars! It would be a complete mess, and almost impossible for our Country to pay. 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. 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.
“Remember, when America shines brightly, the World shines brightly. In other words, if the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!”
Trump repeatedly has used tariffs, falling under several different legal authorizations, to try to improve America’s trade balance with the rest of the world.
Some economic interests sued, claiming the tariffs are an inappropriate tax and they should be struck down.
The New York Post reported a ruling on the case could come as early as this week.
Trump used provisions for emergency moves to set a 10% base tariff rate for most countries earlier last year.
They mainly targeted nations with which the U.S. has a trade deficit. He used the tariffs to push many trading partners into concessions that make U.S. consumers and U.S. manufacturers closer to equal on the world business stage.
His vehicle and car-parts tariff, his fentanyl tariff, and those on copper, steel and aluminum are not in danger as they are based on different legal grounds.
And administration experts have said Trump would attempt to bring his tariffs back on different legal grounds if the Supreme Court makes a move that would seriously hurt the U.S. economy.
The case at hand was brought by Learning Resources, which claims the tariffs created under the International Emergency Economic Powers Act aren’t allowed.
But Treasury Secretary Scott Bessent noted the big winners if the Supreme Court defies the tariffs would be the individual corporations involved.
He called it a “boondoggle.”
“Costco, who’s suing the US government, are they going to give the money back to their clients?” he wondered.