Summary
President Trump stated that the U.S. economy will have difficulties if the Supreme Court cancels most of the tariffs he introduced this year. These tariffs have been challenged in court, and a decision is expected soon. Trump argues that the tariffs are important for the country's revenue and international negotiations.
Key Facts
- President Trump warned that the U.S. economy would struggle if the Supreme Court removes most tariffs imposed this year.
- The tariffs were applied using the International Emergency Economic Powers Act from the 1970s.
- The Court of International Trade ruled that President Trump did not have the authority to impose these tariffs.
- An appellate court upheld the ruling against Trump's authority on these tariffs.
- The Supreme Court will hear arguments on this issue in early November.
- Economists predict that 70% of the tariffs could be removed if the court sides against Trump.
- Trump mentioned the tariffs have played a role in ending several international conflicts.
- The case was brought to court by V.O.S. Selections, a wine importer from New York.
