Key Takeaways
- Supreme Court Showdown: The Supreme Court will soon hear Learning Resources v. Trump, a case that challenges the president’s authority to impose tariffs under the International Emergency Economic Powers Act.
- Tariffs as Economic Engine: Trump credits his tariff strategy for driving $17 trillion in new U.S. investments and reshoring key industries like pharmaceuticals, semiconductors, and autos.
- National Security Argument: The president warns that stripping his tariff powers would weaken national security and hand control of trade back to foreign nations that “have taken advantage of us for years.”
President Donald Trump is warning that if the Supreme Court strikes down his use of tariffs, the U.S. economy could face years of hardship. Speaking on Fox News’ “Sunday Morning Futures,” Trump said the Court’s ruling on the constitutionality of his international economic emergency tariffs will determine whether America continues its current streak of record investment and job growth.
“If we win the tariff case, which hopefully we will, it’s vital to the interests of our country. We’re the wealthiest country there is. If we don’t, we’ll be struggling for years to come,” Trump said.
At issue is whether Trump’s use of the International Emergency Economic Powers Act (IEEPA) gives the president the authority to impose tariffs in the name of national security. Several small businesses have challenged the measure, arguing it oversteps executive power. Lower courts sided against the administration, prompting an appeal to the Supreme Court.
Trump defended tariffs as the cornerstone of his economic strategy, crediting them for bringing back manufacturing and investment to American soil. “The pharmaceuticals are coming back already, again tariffs. So essentially, I’m putting tariffs on pharmaceuticals unless they’re made here,” he said.
The president said the U.S. has seen $17 trillion in new investments within his first eight months in office, calling it “a miracle.” He warned that removing his tariff authority would strip America of economic leverage and threaten national security.
The Supreme Court is scheduled to hear oral arguments in Learning Resources v. Trump on November 5.