US President Donald Trump once again defended his tariff policy, claiming the aggressive levies made the United States the “richest” and “most respected” country in the world. Dubbing his opponents as “fools”, the President claimed every American — except the wealthy — will soon receive at least $2,000 (approx. Rs 1,77,000) from tariff revenues collected by his administration.
The remarks came days after the US Supreme Court raised doubts over the legality of Trump’s sweeping tariffs in a case with implications for the global economy that marks a major test of Trump’s powers.
What Trump Said
“People that are against Tariffs are FOOLS! We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k’s are Highest EVER. We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion,” Trump wrote on his Truth Social platform.
“Record Investment in the USA, plants and factories going up all over the place. A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” he added.
He also claimed that his tariff policy has led to a surge in domestic investment, and “businesses are pouring into the USA ONLY BECAUSE OF TARIFFS”.
He also attempted to justify his actions that upset the global trade balance, questioning the scope of presidential powers.
“So, let’s get this straight??? The President of the United States is allowed (and fully approved by Congress!) to stop ALL TRADE with a Foreign Country (Which is far more onerous than a Tariff!), and LICENSE a Foreign Country, but is not allowed to put a simple Tariff on a Foreign Country, even for purposes of NATIONAL SECURITY,” Trump wrote.
“That is NOT what our great Founders had in mind! The whole thing is ridiculous! Other Countries can Tariff us, but we can’t Tariff them??? It is their DREAM!!! Businesses are pouring into the USA ONLY BECAUSE OF TARIFFS. HAS THE UNITED STATES SUPREME COURT NOT BEEN TOLD THIS??? WHAT THE HELL IS GOING ON??” he added.
US Top Court On Trump Tariffs
Trump’s rant came after both conservative and liberal justices of the Supreme Court last week sharply questioned the lawyer representing Trump’s administration about whether the president had intruded on the power of Congress in imposing tariffs under a 1977 law meant for use during national emergencies.
But some of the conservative justices also signalled that they were wrestling with their recognition of the inherent power that presidents have in dealing with foreign countries, suggesting the court could be sharply divided in the outcome of the case. The court has a 6-3 conservative majority.
During arguments, the justices asked US Solicitor General D John Sauer whether Trump’s application of this statute to impose tariffs of unlimited duration was a major action by the executive branch that would require clear congressional authorisation.
The arguments came in appeals pursued by the administration after lower courts ruled that his unprecedented use of the law at issue to impose the tariffs exceeded his authority. Businesses affected by the tariffs and 12 US states, most of them Democratic-led, challenged the tariffs.
The tariffs – taxes on imported goods – could add up to trillions of dollars for the United States over the next decade. Trump has heaped pressure on the Supreme Court to preserve tariffs that he has leveraged as a key economic and foreign policy tool.