President Donald Trump expressed his concerns about the potential economic consequences if the Supreme Court rules against his tariff policy.
Trump Warns of ‘Economic Emergency’ Over Tariff Ruling
Trump, on the Scott Jennings Radio Show on Tuesday, raised the alarm about the possible repercussions of the Supreme Court ruling against his tariff policy. He warned of an “economic emergency” and a significant impact on the stock market if the ruling does not go in his favor.
“If we don’t win that decision, you’ll see a a reverberation like maybe you’ve never seen before. That’s how bad it will be,” Trump said.
He also highlighted the potential impact on foreign investments in the U.S., stating that the decision is causing an “emergency” and could lead to an “entirely different country.”
He also criticized the foreign companies that filed the lawsuit, claiming that they are against American interests and are trying to undermine the U.S. economy.
Stock Market Decline Linked To Pending Court Decision, Says President
Trump also linked the recent downturn in the stock market to the uncertainty surrounding the tariff policy and fear of a negative ruling.
Over the past 5 days, the S&P 500 eased 0.31%, while the NASDAQ fell 0.81%.
. “..you see the stock market. This decision is an emergency,” stated the president. “The stock market’s down today because of the possibility that that’s going to happen.”
The president suggested that a favorable decision from the Supreme Court would trigger a stock market rally by removing the overhang that has been present for over a year.
“..If if we win this, the stock market’s going to go right through the roof.”
Bessent Prepares Tariff Defense Amid Court Fight
Trump’s concerns come in the wake of a federal appeals court ruling that most of his tariff policy is unconstitutional. The court, however, allowed the tariffs to remain in place while the administration appeals the decision to the Supreme Court.
Trump’s administration has until Oct. 14 to file its appeal. The President has been vocal about the potential impact of the tariffs, warning that a $15 trillion investment in the U.S. would be “immediately cancelled” if the tariffs are struck down.
Meanwhile, Treasury Secretary Scott Bessent is preparing a defense of the tariffs in anticipation of a potential Supreme Court ruling on their legality. Bessent also predicted massive revenue growth for the U.S. Government and a boost to the domestic economy as a result of the tariffs.
Price Action: Invesco QQQ Trust, Series 1 (NYSE:QQQ) soared nearly 14%, while SPDR S&P 500 ETF Trust (NYSE:SPY) surged 9.68% over the past six months, as per data from Benzinga Pro.
READ NEXT:
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
