The ongoing legal battle over tariff policy in America has now come to the center of political and economic debate. Current US President Donald Trump has given a strict warning regarding the hearing of tariff related cases in the US Supreme Court. Trump has said that if the Supreme Court gives a verdict against America, the country may have to suffer a loss not only of hundreds of billions of dollars, but up to trillions of dollars. According to him, in such a situation America’s economy could become completely disorganized.
Donald Trump said that if for any reason the US Supreme Court rules against the tariff, America will have to pay a huge amount. This will not only involve withdrawal of tariffs, but will also have to be paid to those countries and companies who have invested in setting up factories, plants and machines in America to avoid tariffs. Trump says that if all these amounts are added, the figure can reach trillion dollars.
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Why are you calling it a national security issue?
Trump has called the tariffs a national security bonus. According to him, due to tariffs, manufacturing in America has increased and companies have invested within the country. If the court holds it illegal, not only will investor confidence be broken, but future plans will also come to a halt. Trump said that those who say that this loss can be easily compensated are either giving wrong information or are unable to understand this complex issue.
What could be the loss if tariffs are cancelled?
- America may have to return hundreds of billions of dollars of direct tariff money.
- Companies can demand compensation for their investments.
- Investments in factories, plant and equipment may have to be paid back.
- Total losses could reach trillions of dollars.
- It will also be very difficult to decide when, to whom and how the payment will be made.
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What is Trump’s argument regarding the impact on the economy?
Trump said that it would be almost impossible for America to pay such a huge amount. According to him, even if this ever happens, it will take many years to decide what is the total amount and who has to pay how much. He said that when America moves forward strongly, the whole world benefits, but if America becomes weak then the global economy will also be affected.
The hearing regarding the tariff is still going on in the Supreme Court and a final decision is awaited. After Trump’s sharp statement, this matter has become not only a legal but also an economic and political issue. Experts believe that the court’s decision can give a new direction to America’s trade policy and global economic equations in the coming years.
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