Donald Trump Tariff Policy: US President Donald Trump has again defended his tariff policy. He said that aggressive tariffs have made America the richest and most respected country in the world. Those who oppose this are fools.
Trump Tariff Policy Latest Update: US President Donald Trump has once again strongly defended his tariff policy. He says that his aggressive tariff policy made America the richest and most respected country in the world. Trump called those who speak against tariffs fools. Trump claimed that his government has earned trillions of dollars from the tariffs imposed on foreign goods and very soon every American citizen will be given at least 2000 dollars i.e. about 1.77 lakh rupees. However, rich people will not get this benefit. This statement has come at a time when the US Supreme Court is questioning the validity of Trump’s tariff policy. There is a debate going on in the court whether the President should have so much economic power that he can impose tariffs alone.
What did Trump say?
Trump wrote on his social media platform Truth Social, ‘People who speak against tariffs are fools. America is the richest, most respected country today. Almost no inflation, the stock market at record highs and 401k investments at the highest level in history. He further said, ‘We are earning trillions and very soon every American (except the rich) will get a dividend of $2,000.’ Trump claimed that ‘factories and investments are coming back to America only because of tariffs.’
Did tariffs benefit America?
Trump claims that tariffs made America rich, huge revenues came, investment increased and companies are producing in the USA. This improved the trade balance and made foreign goods more expensive, but economists say the tariffs increase the price burden on common people and intensify trade wars with many countries, including China.
What is happening in the US Supreme Court?
Both conservative and liberal judges of the US Supreme Court asked the Trump administration’s lawyer whether the President overrode the power of Congress? Can tariffs be imposed indefinitely in the name of national security? Several states (mostly Democrats) and affected businesses have sued in court, calling it an excessive abuse of power.
Read this also-The 40-day long shutdown in America is nearing an end, know how things worked out?
Read this also- Impact of US shutdown: 1,200 flights cancelled, crisis deepens on air traffic system