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President Donald Trump’s famed tariffs continue to reign as the chief driver of incoming revenue for the United States, thanks to the Supreme Court’s continued delay in ruling on the president’s executive authority to utilize the key trade tool.
Tuesday was a scheduled opinion day for the court, but the justices declined to issue their decision on the constitutionality of President Trump’s use of the Emergency Economic Powers Act, which he has utilized to levy tariffs on countries around the world.
The global tariffs set by the Trump administration raked in an impressive $195 billion for FY 2025, and the president has said that there may be up to a $600 billion payday on the horizon if tariffs remain in place.
“Because of Tariffs, our Country is financially, AND FROM A NATIONAL SECURITY STANDPOINT, FAR STRONGER AND MORE RESPECTED THAN EVER BEFORE. GOD BLESS AMERICA!” President Trump noted recently.
Tariffs continue to be a focal point in the Trump administration. The president has routinely used tariffs to pressure foreign countries to bend to America’s will.
Just last week, he announced a 10 percent tariff on eight European nations that actively oppose the United States’ pursuit of Greenland – a fairly recent objective that the president has said is necessary for national security purposes.
Some leaders of European nations have bristled at being forced to pay tariffs. French President Emmanuel Macron said on Tuesday in Davos at the World Economic Forum’s annual meeting that tariffs were “fundamentally unacceptable.”
“[We’re] shifting towards a world without rules,” he complained. “Where international law is trampled underfoot, and one of the only laws that seem to matter is that of the strongest – and imperial ambitions are resurfacing.”
He described the decentralization of globalized power as a shift away from “effective collective governments.”
President Donald Trump is scheduled to speak at the World Economic Forum on Wednesday, January 21.
As far as the Supreme Court’s decision on tariffs, it remains unclear when the justices will issue opinions again. It is likely to be February, as the court is poised to head into a four-week recess after this week.