Trump claims tariffs brought in 'trillions of dollars' after US court rules he overstepped trade authority

Washington, Sep 1 (IANS) US President Donald Trump claimed his tariffs brought in “trillions of dollars” to the US economy, after a federal appeals court ruled that he overstepped his presidential authority by imposing them without congressional approval.

Trump took to Truth Social to defend his trade agenda. In a post, he declared,

“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!!!”

Trump’s remarks come after a significant legal blow to his administration’s trade policies.

On Friday, the US Court of Appeals ruled that Trump had overstepped his presidential authority by unilaterally imposing so-called "reciprocal tariffs" during his time in office.

The court emphasised that the power to levy tariffs lies “exclusively” with Congress as part of its constitutional authority over taxation and trade.

The court specifically addressed Trump’s use of the 1977 International Emergency Economic Powers Act (IEEPA), stating that while it grants the President certain emergency powers, it does not provide the authority to impose tariffs or taxes.

The ruling, however, will not take immediate effect and has been stayed until October 14 to allow the administration to seek an appeal.

In response to the decision, Trump indicated he would take the matter to the US Supreme Court, arguing the ruling undermines presidential powers necessary to protect national economic interests.

Notably, tariffs on steel and aluminium, enacted under a separate legal statute, will remain in effect.

--IANS

int/rs