U.S. President Donald Trump stated last night that the United States does not plan to return money to companies over tariffs that were imposed on a number of foreign countries last year, and which were overturned by a ruling of the U.S. Supreme Court on Friday.
Speaking at a press conference at the White House, Trump responded to a question about whether companies would receive refunds following the Supreme Court’s decision, saying that his team does not plan to return the money.
“I assume this will have to be litigated over the next two years. So, they write this terrible, wrong decision, completely wrong. It’s almost as if it wasn’t written by smart people. In the end, we will be in court for the next five years,” Trump said.
Refunds are expected because U.S. importers, who paid tariffs over the past year while the policy was in force, will likely seek reimbursement from U.S. Customs and Border Protection.
The United States may be required to return billions of dollars to importers who paid tariffs under the IEEPA, although some importers may have already passed those costs on to consumers or other parties.
The court ruled by six votes to three that Trump exceeded his authority when he used the 1977 federal emergency powers law (IEEPA) to impose reciprocal tariffs worldwide.
Trump warned that countries believed to have treated the United States unfairly in economic matters would “pay the price for mistreating” the U.S.
“And countries that have been good to us will be treated very well,” Trump added.
Without providing evidence, he repeated claims that foreign interests influenced the Supreme Court’s decision to overturn the tariffs he imposed on foreign countries last year.
“I think foreign interests are represented by people who, in my opinion, have far too much influence. They have great influence over the Supreme Court, whether through fear, respect, or friendships, I don’t know. But I know some of the people involved on the other side, and I don’t like them. I think they are real sleazebags,” Trump concluded.
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Source: Politika, Foto: Reuters