President Trump appeals, defends tariffs as core to US strength

President Donald Trump warned on Sunday that the United States would be “completely destroyed” without tariff ￰0￱ made the remarks in a fiery Truth Social post following a major court ruling that struck down key elements of his trade ￰1￱ a 7-4 decision, the US Court of Appeals for the District of Columbia Circuit ruled that Trump had overstepped his authority by declaring a national emergency to impose tariffs on hundreds of billions of dollars’ worth of ￰2￱ judges clarified that under the International Emergency Economic Powers Act (IEEPA), the president does not have the power to impose broad, general tariffs; this authority rests with ￰3￱ ruling represents one of the most significant legal setbacks to Trump’s economic agenda , which has heavily relied on tariffs since his return to the White House in January ￰4￱ these measures have generated record revenue, they have also put strain on the United States’ relationships with key trading ￰5￱ existing tariffs will remain in place until October 14, giving the administration time to petition the Supreme ￰6￱ the high court upholds the decision, the government could be forced to return billions of dollars already collected from ￰7￱ appeals, defends tariffs as core to US strength Trump, who swiftly reacted to the court’s decision on X, said it amounted to a “radical left ruling” that, in his view, would not only destroy the US economy but also undermine the strength of the ￰8￱ warned that if the tariffs were struck down, the country would face years, and possibly decades, of rebuilding ￰9￱ to him, the ruling represented a dangerous setback that could strip the United States of one of its most effective tools for protecting national ￰10￱ emphasized that he was fighting to preserve tariff protections, which he described as central to his economic ￰11￱ maintained that tariffs had already saved key American industries, generated critical revenue for the government, and provided leverage against foreign ￰12￱ argued that removing them would leave the US economically and strategically vulnerable, reinforcing his commitment to defending the policy in the ￰13￱ to use tariffs to tackle debt Despite the legal setback , tariff collections have surged over the past two ￰14￱ data shows revenue rose from $17.4 billion in April to $29.6 billion in July, with total collections for the fiscal year reaching $183.1 billion by late ￰15￱ this pace, the US is on track to match last year’s full tariff revenue in just five ￰16￱ Bessent, the Treasury secretary, said the administration might use some of the revenue to reduce the national debt, which totals nearly $37.2 ￰17￱ also hinted that tariffs could be a credit to American taxpayers.

“I think at some point we’re going to be able to do it,” Bessent told CNBC in August. “We are absolutely laser-focused on paying down the debt.” Bessent also suggested that revenue estimates might be ratcheted to the upside from the current $300-billion estimate for the year, but he wouldn’t put out a new ￰18￱ decision comes as Washington remains sharply split over government spending, taxation, and debt ￰19￱ of Trump’s tariffs view them as a rare means of raising money without raising domestic ￰20￱ say tariffs are an unseen tax on consumers and businesses that drives up the cost of everything from electronics to ￰21￱ Supreme Court’s decision could reshape US trade policy, economists ￰22￱ the tariffs be invalidated, the government could lose a crucial revenue source, and importers could demand billions in ￰23￱ $50 free to trade crypto when you sign up to Bybit now