US President Donald Trump warned that the removal of the tariffs he had previously imposed threatens the country with losses of more than $3 trillion. USD.
„The US Supreme Court was provided with incorrect data. If the court rules against the tariffs, the cancellation and compensation for all consequences, including investments already made and planned, as well as refunds, will exceed $3 trillion. USD. It will be impossible to compensate for such huge damages“, he writes in Truth Social. The US leader added that this is a real threat to national security and will have a devastating impact on the future of the country.
After the first hearing of the tariff case, held on November 5 in the US Supreme Court, The Washington Post reported that some judges have expressed doubts about their legality. The case was filed after a group of business representatives filed a lawsuit against the US government, claiming that the tariffs are illegal and have harmed their companies. On August 29, the Court of Appeals for the District of Columbia ruled that Trump did not have the authority to impose many of the tariffs he announced. On September 4, the Trump administration asked the Supreme Court to overturn the order.
Trump and senior officials in his administration, including Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer, have repeatedly pushed for the tariffs to be upheld, arguing that not upholding them would jeopardize U.S. trade negotiations with other countries and existing deals.
On April 2, Trump announced tariffs on products from 185 countries and territories. The U.S. leader later adjusted the tariff rates for a number of countries.