US President Donald Trump has claimed that the United States has already collected and will soon receive more than $600 billion in revenue from tariffs imposed on foreign countries, asserting that his trade policies have made the American economy “stronger than ever.”
Trump’s comments, shared on his social media platform Truth Social, attributing the tariff gains to a series of aggressive trade levies and import duties the US government has enacted over the past year, including so-called “reciprocal tariffs” and punitive duties on key trading partners.
‘Fake news media won’t talk about our success’
Rebuking the US media for “interfering” in the upcoming decision from the apex court, Trump said his tariffs, imposed in April last year, has made the country strong financially and in terms of national security. “We have taken in, and will soon be receiving, more than 600 Billion Dollars in Tariffs, but the Fake News Media refuses to talk about it because they hate and disrespect our Country, and want to interfere with the upcoming Tariff decision, one of the most important ever, of the United States Supreme Court,” he said in post on Truth Social.
Supreme Court to review Trump tariffs
The conservative-leaning US Supreme Court is expected to rule on the legality of President Trump’s sweeping global tariffs this month, as per media reports.
If the levies are upheld, it would bolster presidential power and potentially give Trump a potent new tool to wield against trading partners as he tries to impose his global agenda.
A decision striking them down would cut the current average US effective tariff rate of 16.3% by at least half and could force Washington to refund tens of billions of dollars, according to Bloomberg. It could also upend the preliminary trade deals Trump has struck with some large countries like Japan, South Korea and the European Union.
A US federal appeals court in August upheld a decision by the Court of International Trade that found Trump did not have the power to impose the tariffs without the consent of Congress.