President Trump called trade tariffs a central part of his economic agenda, crediting them with generating billions for the US Treasury
President Donald Trump said Tuesday his administration will seek an expedited Supreme Court ruling on tariffs after a US appeals court declared them illegal last week.
The US Court of Appeals for the Federal Circuit ruled 7-4 on Friday that Trump lacked authority to impose many of the duties, saying tariffs are a power reserved for Congress.
The court delayed enforcement until October 14, giving Trump time to appeal. Trump defended his tariff policy, warning that removing them could reduce the US to “a third-world country.”
He also claimed the stock market fell because of the ruling. If upheld, the decision would reduce tariffed imports from 70% to just 16%.