Overview
- Trump called tariffs an "overwhelming benefit" to U.S. security and prosperity in a new Truth Social post.
- He warned that losing authority to impose tariffs would be a "terrible blow" to the United States.
- The Court heard arguments late last year on whether the International Emergency Economic Powers Act allows such tariffs, with a decision expected soon.
- A wave of lawsuits contests the administration’s reliance on IEEPA for across-the-board, country-specific duties, including measures affecting South Korea.
- The administration has framed the tariffs as tools to attract foreign investment, raise revenue and bolster domestic manufacturing.