“If these tariffs go away…”: Trump reacted after the appeals court said his tax clearance laws were unconstitutional
U.S. President Donald Trump has re-entered social media to share his thoughts. After the Court of Appeal described his liquidation tariff as “unconstitutional”, he wrote that it would be disastrous if his tariffs disappeared.
The development comes days after the U.S. responsibility for exporting 25% of India to the world’s largest economy takes effect, bringing the total tariff to 50%.
Many outstanding economists and financial experts criticized Trump’s tariff policies, especially India’s tariff policies. According to foreign media reports, American economist Richard Wolff described Trump 2.0 tariffs as “a mouse crashing into an elephant.” Read more
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All taxes remain in effect: Trump
The U.S. president said that the tariffs were justified and he would bring the matter to the Supreme Court.
“Today, the party’s appeals court incorrectly stated that our tariffs should be removed, but they know that the United States of America will eventually win,” the 47th president wrote.
He wrote that removing tariffs would “make us financially weak and we must be strong”.
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“We will no longer tolerate…”: Trump
Trump also said the United States will “no longer tolerate huge trade deficits, unfair tariffs and non-tariff trade barriers imposed by other countries.”
Trump’s criticism of India’s oil trade with Russia.
Please read also: Latest Trump tariff turmoil: POTUS suspends China’s responsibilities within 90 days before deadline
It affects a range of Indian goods, including textiles, gemstones and jewelry.
Meanwhile, India has been firmly opposed to U.S. criticism of Russian oil trade, defending its energy imports, and stressing the need for buying these purchases to achieve its economic stability.
Please read also: India – U.S. Trade Negotiations: U.S. Treasury Secretary reportedly called India “a bit stubborn”
