President Donald Trump criticized the Supreme Court’s Friday ruling that said he lacks the authority to impose tariffs using an emergency statute.
In April, Trumpinitiated tariffsunder a 1977 emergency powers law known as the International Emergency Economic Powers Act, citing a record $1.4 trillion trade deficit in 2024. He referred to the move as “Liberation Day” — meaning America’s liberation from being taken advantage of in trade by other countries.
In Friday’s 6-3 ruling, the high courtheldthat the IEEPA “does not authorize the President to impose tariffs.”
One of Trump’s critiques of the decision is that the court did not address what to do with the money already collected.
For calendar year 2025, the Trump administration collected $287 billion in tariff revenue, a 192 percent increase over the preceding year,according tothe Federal Reserve Bank of Richmond.
However, not all that revenue was taken in using IEEPA authority.
On Friday, Fox News White House correspondent Peter Doocy asked Trump, “Since ‘Liberation Day,’ there’s about $175 billion in tariff revenue that is now in limbo. Do you have to refund $175 billion?”
The president responded, saying that the justices took “months and months to write an opinion, and they don’t even discuss that point.”
“Wouldn’t you think they would have put one sentence in there saying … ‘keep the money’ or ‘don’t keep the money,’ right?” Trump asked.
Doocy: Do you have to refund 175 billion?
Source: VidNews » Feed
