US President Donald Trump on Wednesday said that America may have to suffer "greatly" and can be "unbelievably poor again" if it loses a Supreme Court case.
Speaking to Reporters at the White House, Trump explained the consequences US may face if the Supreme Court didn't reverse the appeals court ruling from last week that found his tariffs were "illegal." He said that US might have to "unwind" the trade deals it reached with European Union, Japan, South Korea and others.
"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," he added.
However, later, the Trump administration took the fight over tariffs to the Supreme Court, requesting it to reverse the appeals court ruling.
Trump, while speaking to the reporters, had said that US has a chance a "become unbelievably rich again" and warned of the opposite if Supreme Court didn't reverse the order.
"Our country has a chance to be unbelievably rich again. It could also be unbelievably poor again. If we don't win that case, our country is going to suffer so greatly, so greatly," Trump said.
Meanwhile, trade experts asserted that Trump's comments are intended to convince the Supreme Court that ruling against tariffs may unleash major economic chaos.
"The president's announcement today that the deals could be unwound reflects an effort to maximise leverage on the US side," Ryan Majerus, a former senior US trade official, told Reuters.
Speaking to Reporters at the White House, Trump explained the consequences US may face if the Supreme Court didn't reverse the appeals court ruling from last week that found his tariffs were "illegal." He said that US might have to "unwind" the trade deals it reached with European Union, Japan, South Korea and others.
"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," he added.
However, later, the Trump administration took the fight over tariffs to the Supreme Court, requesting it to reverse the appeals court ruling.
Trump, while speaking to the reporters, had said that US has a chance a "become unbelievably rich again" and warned of the opposite if Supreme Court didn't reverse the order.
"Our country has a chance to be unbelievably rich again. It could also be unbelievably poor again. If we don't win that case, our country is going to suffer so greatly, so greatly," Trump said.
Meanwhile, trade experts asserted that Trump's comments are intended to convince the Supreme Court that ruling against tariffs may unleash major economic chaos.
"The president's announcement today that the deals could be unwound reflects an effort to maximise leverage on the US side," Ryan Majerus, a former senior US trade official, told Reuters.
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