President Donald Trump is warning of possible "economic ruination" if the courts do not allow his massive, unilateral tariffs to stay in place, in an apparent admittance they could backfire.
The President suggested on Sunday that after he imposed tariffs, and other countries hit back with retaliatory measures, those foreign penalties might stick—penalties triggered by his own actions.
"If the Courts somehow rule against us on Tariffs, which is not expected, that would allow other Countries to hold our Nation hostage with their anti-American Tariffs that they would use against us," Trump wrote in a social media post. "This would mean the Economic ruination of the United States of America!"
Last week, the U.S. Court of International Trade (CIT) unanimously ruled that Trump's imposition of his so-called "Liberation Day" tariffs via the International Emergency Economic Powers Act (IEEPA) was unlawful, and that a president does not hold unlimited authority to impose tariffs at will. The ruling was stayed by a higher court pending appeal.
Absent from Trump's remarks was that the court suggested there were other ways to go about imposing tariffs, such as partnering with Congress, as the Constitution dictates.
Former Trump White House Communications Director Anthony Scarmucci on Monday noted, "Amazing Trump’s lack of understanding of the economy and consequences of his alienation of pretty much every country."
On Friday, Trump wrongly suggested the founders gave the power of taxation and tariffs to the President. They gave that power to Congress.
