The US leader has said rolling back his import taxes would make America a \u201cpathetic laughingstock\u201d as the Supreme Court mulls their legality<\/p>\n
President Donald Trump has claimed that the US holds \u201call the cards\u201d thanks to his tariffs, without which the country \u201cwould be a poor and pathetic laughingstock again.\u201d
\nIn April, Trump introduced sweeping import duties affecting dozens of nations worldwide, citing allegedly unfair trade imbalances with partners. The US president used the 1977 International Emergency Economic Powers Act (IEEPA) as the legal basis for the measures. The law allows the president to regulate or block international trade and financial transactions during a declared national emergency involving foreign threats.
\nThe move has come under fire from some lawmakers who argue that it could harm the domestic economy.
\nIn a post on his Truth Social platform on Saturday, Trump wrote that \u201cTariffs have made our Country Rich, Strong, Powerful, and Safe\u2026, and because of what I have set in place, WE HAVE ALL THE CARDS.\u201d
\nThe Republican warned that \u201cEvil, American hating Forces are fighting us at the United States Supreme Court.\u201d<\/p>\n
Read more<\/p>\n
Senior EU official accuses US of \u2018blackmail\u2019 in trade talks<\/p>\n
Earlier this month, Trump predicted a \u201cnational security catastrophe\u201d if his tariffs were rolled back, with losses for the US potentially totaling more than $2 trillion.
\nIn late summer, the US Court of Appeals ruled that Trump had overstepped his authority by imposing tariffs under the IEEPA, stating that only Congress can authorize such measures. The court stopped short of canceling the duties, pending a Supreme Court ruling.
\nIt remains unclear when the Supreme Court will announce its decision, though some legal analysts expect it by July 2026.
\nMeanwhile, in his Thanksgiving message on Thursday, Trump announced that \u201cwe will be cutting income tax, could be almost completely cutting it.\u201d
\nIn early November, the US president pledged that a \u201cdividend of at least $2,000 a person (not including high-income people!) will be paid to everyone,\u201d funded by revenue from tariffs.
\nAround the same time, US Treasury Secretary Scott Bessent told ABC News that the tariff dividend could come \u201cin lots of forms,\u201d including tax breaks.<\/p>\n","protected":false},"excerpt":{"rendered":"
The US leader has said rolling back his import taxes would make America a \u201cpathetic laughingstock\u201d as the Supreme Court mulls their legality President Donald Trump has claimed that the…<\/p>\n","protected":false},"author":1,"featured_media":23435,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4,6,3],"tags":[],"class_list":["post-23434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-environment","category-politics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mongolianews.mn\/index.php?rest_route=\/wp\/v2\/posts\/23434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mongolianews.mn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mongolianews.mn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mongolianews.mn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mongolianews.mn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23434"}],"version-history":[{"count":0,"href":"https:\/\/mongolianews.mn\/index.php?rest_route=\/wp\/v2\/posts\/23434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mongolianews.mn\/index.php?rest_route=\/wp\/v2\/media\/23435"}],"wp:attachment":[{"href":"https:\/\/mongolianews.mn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mongolianews.mn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mongolianews.mn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}