U.S. economy: Trump asks supreme court to uphold global tariffs

AWANI

Donald Trump warned that the U.S. may need to unwind trade deals with major partners if the Supreme Court upholds a ruling against his tariffs, cautioning it could cause severe economic consequences.

Transcript

00:00Donald Trump is taking his tariff fight to the Supreme Court.

00:03The U.S. President has asked justices to overturn a federal appeals court ruling last week

00:09that found many of his sweeping import taxes were illegal.

00:13That decision threatens to unravel his trade agenda

00:16and could force Washington to refund billions collected from importers.

00:24Trump had declared an economic emergency in April,

00:27citing trade imbalances and national security risks.

00:31He then introduced sweeping reciprocal duties on more than 90 countries,

00:35along with separate duties on China, Canada and Mexico.

00:39The appeals court judges ruled tariffs under emergency powers go beyond presidential authority,

00:45calling it a core power of Congress.

00:47But duties imposed under other laws like steel and aluminium remain in place.

00:53Trump, meanwhile, warned that a loss at the Supreme Court

00:56could deal serious damage to the U.S. economy.

00:59He went on to claim that the European Union had agreed to pay

01:03nearly a trillion dollars under a completed deal,

01:06and suggested that if the case is lost, those agreements could be undone.

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