Donald Trump says ‘we’re screwed’ if supreme court rejects global trade tariffs – US politics live | US news
Trump warns of ‘total mess’ if Supreme Court rejects tariffs
Trump’s broader policy of imposing tariffs via executive order is under legal pressure as the US supreme court considers striking down a broad swath of the president’s existing tariffs.
Donald Trump said “it would be a complete mess” if the US supreme court overturned them.
in a long time post on social mediaThe US president said “WE ARE MISTAKES” if the Supreme Court rules against the tariffs. The decision is expected to be made on Wednesday. This is a major legal test of his controversial economic strategy and power.
Trump stated that reversing the tariffs would be difficult because businesses and countries could demand refunds, adding that “it will take many years to figure out what number we are talking about and even to whom, when and where to pay.” He added: “This would be a complete mess and it would be almost impossible for our Country to pay.”
In November, the high court appeared skeptical about the legal basis for the Trump administration’s sweeping global tariff regime when the justices questioned the president’s authority to impose the tariffs. Judges were heard verbal arguments About the legality of Trump’s tariffs.
important events
Vance and Rubio will meet on Denmark and Greenland FM tomorrow
Vice President J.D. Vance and secretary of state Marco Rubio will meet with the foreign ministers of Denmark and Greenland on Wednesday, Denmark’s foreign minister said Tuesday, amid Trump’s push to seize control of the Arctic island.
Danish foreign minister Lars Lokke Rasmussen and his Greenlandic counterpart Vivian Motzfeldt requested a meeting after Trump increased his threats to seize Greenland, an autonomous region of the Kingdom of Denmark, last week.
Trump first floated the idea of a U.S. takeover of Greenland during his first term in office in 2019 and stepped up pressure last week after his administration kidnapped and deposed Venezuelan leader Nicholas Maduro.
Leading central banks defend Fed’s Powell
Graeme Wearden
Eleven of the world’s leading central bankers have issued a statement of support for Fed chairman Jerome Powell after the US Department of Justice launched a criminal investigation into him that he claimed was politically motivated.
In an unprecedented move, senior central bank governors, including of the Bank of England Andrew BaileyAnd Christine Lagarde between European Central BankThey supported Powell and warned against undermining central bank independence.
presidents Swedish, Denmark, Switzerland, Australia, Canadian, South koreanAnd Brazil central banks and two senior officials also signed Bank for International Settlements (known as the “central bank of central banks”). Others may yet sign the letter.
Bank presidents say:
We stand in full solidarity with the Federal Reserve System and its Chairman, Jerome H. Powell.
The independence of central banks is the cornerstone of price, financial and economic stability in the interest of the citizens we serve. It is therefore critical to preserve this independence with full respect for the rule of law and democratic accountability.
Chairman Powell has served with integrity, focus on his mission, and unwavering commitment to the public interest. From our perspective, he is a well-respected colleague who is highly respected by everyone who works with him.
The signature of the letter is as follows:
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European Central Bank President Christine Lagarde on behalf of the ECB Governing Council
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Andrew Bailey, Governor of the Bank of England
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Erik Thedéen, Governor of Sveriges Riksbank
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Christian Kettel Thomsen, Chairman of the Board of Directors of the National Bank of Denmark
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Martin Schlegel, Chairman of the Board of the Swiss National Bank
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Reserve Bank of Australia Governor Michele Bullock
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Tiff Macklem, Governor of the Bank of Canada
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Bank of Korea Governor Chang Yong Rhee
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Gabriel Galípolo, Governor of Banco Central do Brasil
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François Villeroy de Galhau, Chairman of the Bank for International Settlements
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Pablo Hernández de Cos, General Manager of the Bank for International Settlements
China condemns new Iran-related tariffs
Patrick Wintour
China has threatened to retaliate against Donald Trump over his new 25 percent tariffs on countries doing business with Iran.
Trump, who is currently reviewing a range of military options against the Iranian regime, said the new tariffs would “take effect immediately” without giving further details on whether there would be any exemptions, including only for countries trading in humanitarian supplies such as medicine.
More than 140 countries still trade with Iran, according to the World Bank, but sometimes only in very small amounts.
However, according to data firm Kpler, China is by far Iran’s largest trading partner, purchasing 77% of Iran’s oil exports in 2024. He just ended his tariff war with Trump.
Liu Pengyu, a spokesman for the Chinese embassy in Washington, said Beijing would “take all necessary measures” to protect its rights and interests.
Liu wrote about X: “Tariff wars and trade wars have no winners, and coercion and pressure cannot solve problems. Protectionism harms the interests of all parties.”
Other countries that trade extensively with Iran are India, the United Arab Emirates, Japan and South Korea. Japan and South Korea have just finalized free trade agreements with the United States after a frustrating clash over tariffs. Both countries initially imposed a 15 percent tariff but now find themselves in a potential crisis again.
Welcome
Good morning and welcome to our US politics live blog.
Donald Trump announced that he would impose a 25 percent tariff on all countries trading with Iran; This seems at first glance to apply to China, India, the United Arab Emirates and Türkiye, among others.
It is the first concrete action by the US president, who said over the weekend that he was considering “very strong” military action against Tehran for its deadly crackdown on anti-regime protesters.
Yesterday, White House press secretary Karoline Leavitt said that although diplomacy remains Trump’s “first option,” he is “not afraid to use the lethal force and might of the U.S. military if he deems it necessary.”
Central banks around the world have rallied around Fed chairman Jerome Powell, who has long been criticized by Trump for refusing to cut interest rates and now faces federal investigation. Banks have issued a statement in recent hours calling for the Fed to be independent in determining the monetary policy to be maintained.
Trump warns of ‘total mess’ if Supreme Court rejects tariffs
Trump’s broader policy of imposing tariffs via executive order is under legal pressure as the US supreme court considers striking down a broad swath of the president’s existing tariffs.
Donald Trump said “it would be a complete mess” if the US supreme court overturned them.
in a long time post on social mediaThe US president said “WE ARE MISTAKES” if the Supreme Court rules against the tariffs. The decision is expected to be made on Wednesday. This is a major legal test of his controversial economic strategy and power.
Trump stated that reversing the tariffs would be difficult because businesses and countries could demand refunds, adding that “it will take many years to figure out what number we are talking about and even to whom, when and where to pay.” He added: “This would be a complete mess and it would be almost impossible for our Country to pay.”
In November, the high court appeared skeptical about the legal basis for the Trump administration’s sweeping global tariff regime when the justices questioned the president’s authority to impose the tariffs. Judges were heard verbal arguments About the legality of Trump’s tariffs.
