President Donald Trump has said the US might have to “unwind” trade deals it reached with the European Union, Japan and South Korea, among others, if it loses a Supreme Court tariffs case, and warned that a loss would cause the US “to suffer so greatly
Mr Trump, speaking to reporters at the White House, said his administration will ask the Supreme Court to reverse a US appeals court ruling last week that found many of his tariffs were illegal.
However, he said that he thought his administration would prevail in the case.
“We made a deal with the European Union where they’re paying us almost a trillion dollars. And you know what? They’re happy. It’s done. These deals are all done,” he said. “I guess we’d have to unwind them.”
The comments were Mr Trump’s first specifically suggesting the trade deals reached with major trading partners – which were negotiated separately, outside of the tariffs – could be invalidated if the Supreme Court lets Friday’s ruling stand.NEW DELHI: US President Donald Trump on Thursday moved Supreme Court challenging a federal court’s ruling that US president is not authorised to impose sweeping tariffs on foreign import
The court found in a 7-4 ruling last Friday that Trump overstepped his presidential powers when he invoked a 1977 law designed to address national emergencies to justify his “reciprocal” tariffs.
The decision was the biggest blow yet to Trump’s tariff policies but the levies were left in place until 14 October, giving the administration time to ask the supreme court to review the decision.
Trump has now appealed and the supreme court is expected to review the case, although the justices must still agree to do so. The administration asked for that decision to be made by 10 September.
The appeal calls for an accelerated schedule with arguments being heard by 10 November, according to filings seen by Bloomberg. Justices could then rule by the end of the year.
