President Donald Trump warns the United States will be possibly "reduced to almost Third World status" if the Supreme Court strikes down tariffs | Fortune
Briefly

President Donald Trump warns the United States will be possibly "reduced to almost Third World status" if the Supreme Court strikes down tariffs | Fortune
"President Donald Trump has warned that the United States will be rendered "defenseless'' and possibly "reduced to almost Third World status'' if the Supreme Court strikes down the tariffs he imposed this year on nearly every country on earth. The justices sounded skeptical during oral arguments Wednesday of his sweeping claims of authority to impose tariffs as he sees fit. The truth, though, is that Trump will still have plenty of options to keep taxing imports aggressively even if the court rules against him."
"Tariffs have become a cornerstone of Trump's foreign policy in his second term, with double-digit "reciprocal" tariffs imposed on most countries, which he has justified by declaring America's longstanding trade deficits a national emergency. The average U.S. tariff has gone from 2.5% when Trump returned to the White House in January to 17.9%, the highest since 1934, according to calculations by Yale University's Budget Lab."
President Donald Trump warned the United States could be rendered defenseless or reduced to near Third World status if the Supreme Court overturns broadly imposed tariffs. The Supreme Court justices expressed skepticism about his broad claimed authority to impose tariffs unilaterally. The president retains alternative legal tools and can reuse powers from his first term, and historical authorities dating to the Great Depression are available. Legal advocates argued Congress has delegated tariff authority in specific statutes that constrain presidential action. Tariffs have risen to an average of 17.9% from 2.5% according to Yale Budget Lab, with many applied as reciprocal measures. The Constitution assigns tariff and tax powers to Congress despite recent unilateral presidential action.
Read at Fortune
Unable to calculate read time
[
|
]