Former President Donald Trump has warned that the United States could be forced to pay back over $2 trillion in tariff revenue and investments if the Supreme Court rules against his authority to impose tariffs under the International Emergency Economic Powers Act of 1977 (IEEPA).
Last week, Trump stated, “we’d have to pay back trillions of dollars” if the Supreme Court rules against his tariff authority. He added, “I can’t imagine that anybody would do that kind of devastation to our country.”
On Monday, Trump issued a statement on Truth Social criticizing those challenging him in court. “The actual Number we would have to pay back in Tariff Revenue and Investments would be in excess of $2 Trillion Dollars, and that, in itself, would be a National Security catastrophe,” Trump said.
He continued: “Those opposed to us in the United States Supreme Court are giving low Numbers so that the Court will think it is easy to get out of this terrible situation that these Anarchists and Thugs have put us into!”
In his full statement, Trump argued: “The ‘Pay Back’ Numbers being quoted by the Radical Left Lunatics, who would love to see us lose on Tariffs because of how bad it would be for our Country, are much higher than those being stated by our Fake Opposition — Opposition mainly from Foreign Countries that would do anything to be allowed to charge us Tariffs without retribution. The actual Number we would have to pay back in Tariff Revenue and Investments would be in excess of $2 Trillion Dollars, and that, in itself, would be a National Security catastrophe. Those opposed to us in the United States Supreme Court are giving low Numbers so that the Court will think it is easy to get out of this terrible situation that these Anarchists and Thugs have put us into!”
Trump’s use of IEEPA came after he declared a national emergency aimed at reducing the US trade deficit. Earlier this year, the Court of International Trade ruled that Trump had exceeded his authority under IEEPA when imposing certain tariffs. The Department of Justice appealed this decision but was unsuccessful when the United States Court of Appeals for the Federal Circuit upheld the lower court’s ruling.
The case now awaits a decision from the Supreme Court on whether presidential powers under IEEPA include broad tariff authority. During oral arguments last week, Justice Amy Coney Barrett questioned how any reimbursement process might work if tariffs were overturned, stating “it seems to me like it could be a mess.” The attorney opposing Trump acknowledged difficulties with devising an appropriate solution.
Trump has repeatedly claimed that an unfavorable ruling could cost Americans trillions of dollars.
