US PresidentDonald Trumpclaims aUS Supreme Court's rulingon his decision to impose worldwide tariffs would be very difficult to reverse, potentially threatening deals he made with the UK. The ruling, which comes after challenges from businesses in 12 mostly Democrat-run states, invalidates thebroad tariffs that formed a central pillar of Mr Trump’s second-term trade policy.
The court noted that “no President has invoked [IEEPA] to impose any tariffs, let alone tariffs of this magnitude and scope,” and called the measures an overreach of executive power.
READ MORE:Trump rages at 'disgrace' as President suffers huge humiliation
READ MORE:Fox News halts for major breaking alert – Donald Trump will be furious
Writing on social media, Trump said: “It would take many years to figure out what number we are talking about and even, who, when, and where, to pay.”
“It would be a complete mess, and almost impossible for our Country to pay”, he added.
In theory, the ruling jeopardises the trade agreements the Trump administration has secured with the likes of the UK and theEuropean Union, which were negotiated in the context of Mr Trump’s “reciprocal” tariffs.
The White House is widely expected to turn to a raft of other tools to replace the IEEPA tariff revenue and keep trade deals in place.
In the first instance, these are likely to include Section 122 of the 1974 Trade Act, which allows the President to impose tariffs of up to 15% for up to five months.
The court’s decision was supported by six justices, including three liberals: Ketanji Brown Jackson, Elena Kagan, and Sonia Sotomayor, and threeconservatives: Amy Coney Barrett, Neil Gorsuch, and John Roberts.
Source: Daily Express :: World Feed
