US President Trump says tariff ruling is deeply disappointing, he is ashamed of certain members of the court; Foreign countries will be happy and dancing, but not for long
Importance
Level 1
Trade
- There are methods that are even strong that are available to him.
- Tariffs have been used to end wars.
- Other methods will be used for tariffs.
- Fentanyl tariffs remain.
- Trump says he is allowed to cut off all trade with a country, is also allowed to impose an embargo. Can do anything he wants, but he can't charge any money.
- Is not happy with the outcome, he has alternatives that have been approved because of this decision.
- Will go in a stronger direction now. Could have done this originally, but chose to go the other way.
- Says he could charge much more than what he was charging.
- Statutes include, trade expansion act, for example, mentions sections 122, 232, 201 and 301 as other ways he can impose tariffs.
- Also mentions section 338, but says this is a longer process.
- Income coming from tariffs will increase.
- Stresses the supreme court did not over rule tariffs, just the use of IEEPA.
- Other statutes can be used, other authorities can be used.
- Effectively immediately, all national security tariffs under 232 and 301 remain in place.
- 10% global tariff to be imposed on other tariffs.
Supreme Court
- Proud of the justices that voted in favour with Trump.
- There is no way anyone can argue with those who dissented.
- Thinks court has been swayed by foreign interests.
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