The United States will become a "Third World country" if the tariffs imposed are cancelled, President Donald Trump warned on Monday. In a series of posts
on Truth Social, Trump defended his sweeping tariffs and said that more than $15 trillion will be invested in the US, a figure he described as a "record." "More than 15 Trillion Dollars will be invested in the USA, a RECORD. Much of this investment is because of Tariffs," Trump said. He added that if a "Radical Left Court is allowed to terminate these Tariffs, almost all of this investment, and much more, will be immediately cancelled" and the US will become a Third World nation. "In many ways, we would become a Third World Nation, with no hope of GREATNESS again. TIME IS OF THE ESSENCE!!!" Trump remarked. In another post, he doubled down on his trade policies and emphasised that tariffs are strengthening the economy of US, saying that prices were "way down" and that the country is experiencing "virtually no inflation." "Prices are "WAY DOWN" in the USA, with virtually no inflation. With the exception of ridiculous, corrupt politician-approved "Windmills," which are killing every State and Country that uses them," Trump said. Revenue from tariffs totalled USD 159 billion by July, more than double what it was at the same point the year before. The Justice Department warned in a legal filing this month that revoking the tariffs could mean "financial ruin" for the United States. Also Read: Trump's Tariffs Ruled 'Illegal' By US Court — Will His Global Trade War Unravel Now? | EXPLAINED
US court declares Trump's tariffs as "illegal"
Trump's sweeping attempt to claim near-unchallenged authority over global trade has hit a wall back at home. A federal appeals court in the United States on Friday ruled that the president had exceeded his powers when he used "national emergencies" as cover to levy tariffs on almost every nation and trading bloc. In its 7–4 decision, the court left the tariffs in place till October 14, giving the Trump administration a deadline to appeal to the Supreme Court.
Soon after the decision was announced on Friday afternoon, Trump denounced it as "highly partisan".
"If allowed to stand, this Decision would literally destroy the United States of America", Trump wrote on Truth Social.
Meanwhile, White House Deputy Press Secretary Kush Desai said, citing the temporary stay, "The President’s tariffs remain in effect, and we look forward to ultimate victory on this matter".
