"I wouldn't buy long-term treasuries ahead of that Supreme Court decision because if that revenue goes away, look out. Even though it's not a whole lot of money on the margin, this government needs it, McDowell said when the Supreme Court case was brought up during a discussion about the current partial government shutdown. We're already spending it by name, Brenberg added."
"That Supreme Court case is so important. And, frankly, this economy, if we win the tariff case which we should, on the legal merits, but on common sense merits we would have to give back trillions of dollars to these countries. Can you imagine? We would have give back trillions and trillions of dollars because we got it because of tariffs."
Brian Brenberg and Dagen McDowell warned that a Supreme Court ruling against President Trump's global tariffs could remove tariff revenue and worsen federal finances. They cautioned against buying long-term Treasuries ahead of the decision because lost tariff receipts would reduce government revenue that has already been allocated to spending priorities. President Trump said losing the case would force the return of trillions of dollars to trading partners. The Supreme Court agreed to expedite the administration's appeal of a lower court ruling that deemed the tariffs unlawful and allowed the tariffs to remain in place during the appeal.
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