President Trump on Monday said the United States would lose $2 trillion if the Supreme Court does not rule in his favor in a lawsuit challenging his authority to impose sweeping tariffs under the International Emergency Economic Powers Act of 1977 (IEEPA).
Last week, Trump said, “we’d have to pay back trillions of dollars” if the Supreme Court rules against his tariff authority.
“I can’t imagine that anybody would do that kind of devastation to our country,” he added.
On Monday, he put out another statement on Truth Social, slamming the “Radical Left Lunatics” who are challenging him in court.
“The actual Number we would have to pay back in Tariff Revenue and Investments would be in excess of $2 Trillion Dollars, and that, in itself, would be a National Security catastrophe,” Trump said.
“Those opposed to us in the United States Supreme Court are giving low Numbers so that the Court will think it is easy to get out of this terrible situation that these Anarchists and Thugs have put us into!”
Full statement below:
The “Pay Back” Numbers being quoted by the Radical Left Lunatics, who would love to see us lose on Tariffs because of how bad it would be for our Country, are much higher than those being stated by our Fake Opposition — Opposition mainly from Foreign Countries that would do anything to be allowed to charge us Tariffs without retribution. The actual Number we would have to pay back in Tariff Revenue and Investments would be in excess of $2 Trillion Dollars, and that, in itself, would be a National Security catastrophe. Those opposed to us in the United States Supreme Court are giving low Numbers so that the Court will think it is easy to get out of this terrible situation that these Anarchists and Thugs have put us into!
President Trump invoked his authority under IIEEPA when he declared a national emergency to reduce the US trade deficit.
But the Court of International Trade in New York said President Trump exceeded his authority to impose tariffs under IEEPA in May. The Department of Justice immediately appealed, and the United States Court of Appeals for the Federal Circuit sided with the lower court in August.
Now, the case is before the Supreme Court to determine whether or not the President of the United States is allowed to exercise his lawful authority.
Last week, Justice Amy Coney-Barrett questioned the plaintiff’s attorneys on how the reimbursement would work, stating “it seems to me like it could be a mess.”
The attorney challenging Trump admitted “it’s difficult” but did not define a just solution.
WATCH:
As The Gateway Pundit reported, President Trump told reporters said the case could cost the American people trillions of dollars last week.
MORE:
WATCH: Trump Says Supreme Court Ruling Against Tariffs would Cost the US TRILLIONS – “We’d Have to Pay Back Trillions of Dollars”
The post Trump Says US Would Need to Pay Back OVER $2 TRILLION in Tariff Revenue and Investments if SCOTUS Rules Against Tariffs – “A National Security Catastrophe” appeared first on The Gateway Pundit.