Reference News Network, September 4 report. According to Reuters, September 3 report, U.S. President Trump said on September 3 that if the tariff case loses in the Supreme Court, he may have to "rescind" trade agreements previously reached with the EU, Japan, South Korea, and other countries, and warned that a loss would cause the United States "huge losses."
Trump told reporters at the White House that his government would appeal to the Supreme Court to overturn a ruling by an appellate court last week that found several of his tariffs illegal. However, Trump said he believed the government would win the case.
Trump said, "We have reached an agreement with the EU, and they are paying us nearly $100 billion. Do you know? They are very satisfied with this... All these agreements have been finalized. I think we may have to rescind these agreements."
Trump said that canceling the tariffs would cost the United States a high price. However, trade experts pointed out that these tariffs are actually paid by U.S. importers, not the companies in the countries of origin. Economists have warned that tariffs could worsen inflation in the United States.
Trump said, "Our country has the opportunity to become very wealthy again, or it may become very poor again. If we lose this case, our country will suffer huge, huge losses."
The appellate court's ruling involved the legality of two sets of tariffs: one was the so-called "reciprocal" tariffs announced by Trump in April; the other was tariffs imposed separately on China, Canada, and Mexico in February. (Translated by Wang Dongdong)
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