Trump dealt a major blow on tariffs! The court ruled that imposing tariffs without Congressional approval constituted abuse of Presidential power. Trump retaliated, claiming tariffs benefited America by trillions of dollars and that he would appeal to the Supreme Court.
The US President Donald Trump has suffered a major setback from a federal appeals court. The court ruled that Trump misused his presidential powers by imposing tariffs without the approval of Congress.
Trump has reacted to this. He claimed that his tariffs have earned America trillions of dollars. In a social media post, Trump stated that prices of goods in America are now very low and inflation is almost zero.
Trump further stated that energy prices in America are now falling very rapidly. Petrol is at its lowest level in many years. He attributes this to the “fantastic tariffs” which are bringing in trillions of dollars from countries that have, he claims, taken advantage of the US for decades.
Trump’s comments follow a major legal blow to his administration’s trade policies. On Friday, a US appeals court ruled that Trump misused his presidential powers by unilaterally imposing ‘reciprocal tariffs’ during his tenure.
The court specifically addressed Trump’s use of the 1977 International Emergency Economic Powers Act (IEEPA), stating that while it grants the president certain emergency powers, it does not grant the authority to impose tariffs or taxes.
However, the ruling will not be immediately enforced and has been stayed until October 14th to allow the administration an opportunity to appeal.
In response to this decision, Trump indicated he would take the matter to the US Supreme Court, arguing that the ruling undermines the president’s necessary powers to protect national economic interests.