US President Donald Trump claimed his tariffs policies yielded "trillions of dollars" for the American economy, after a federal appeals court ruled that he overstepped his presidential powers by imposing them without approval from Congress.
Reaching out to defend his trade actions on Truth Social, Trump said,
“Prices are WAY DOWN in the USA, with virtually no inflation. With the exception of ridiculous, corrupt politician-approved ‘Windmills,’ which are killing every State and Country that uses them, Energy prices are falling, big time. Gasoline is at many year lows. All of this despite magnificent Tariffs, which are bringing in Trillions of Dollars from Countries that took total advantage of us, for decades, and are making America STRONG and RESPECTED AGAIN!!!”
His assertion comes as a big legal blow to his government's trade policies.
The US Court of Appeals, on Friday, held that Trump had overstepped his presidential authority in unilaterally imposing so-called "reciprocal tariffs" during his tenure.
The court pointed out that the power to impose tariffs lies "exclusively" in the hands of Congress as part of its constitutional taxing and trade authority.
Specifically aimed at Trump's use of the 1977 International Emergency Economic Powers Act (IEEPA), the court further explained that although it provides the President with some emergency authorities, it does not sanction imposing tariffs or taxes.
The decision will not be going into effect immediately and has been stayed until October 14, giving the administration time to seek an appeal.
Reacting to the ruling, Trump said he will take the case to the US Supreme Court, contending that the ruling constrains presidential powers needed for safeguarding national economic interests.
Tariffs on steel and aluminium, however, which were imposed under another legal statute, will be maintained.
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