NEW YORK, January 31. /TASS/. US President Donald Trump hopes that the Supreme Court, which will decide on the legality of many of the duties he has imposed, sees the indicators that point to the benefits of the tariff policy of the current American administration.
"[Former US President] Joe Biden handed me a catastrophically high budget deficit, and the highest trade deficit in world history. But with the help of tariffs, we have cut that federal budget deficit by a staggering 27% in a single year, and even more incredibly, we have slashed our monthly trade deficit by an astonishing 77%—all with virtually no inflation, which everyone said could not be done. American exports are up by $150 billion. I sincerely hope the Supreme Court is watching these numbers, because our country has never seen anything like them!" Trump said in a story he contributed to The Wall Street Journal.
Trump had previously said that the duties had brought the United States about $600 billion, and said that if the court invalidated the tariff measures, the American administration would find a replacement for them.
On April 2, the American leader introduced customs duties on products from 185 countries and territories. Later, Trump changed the tariff for goods from several countries. The trial was initiated by a group of businessmen that sued the US authorities, saying the tariffs were illegal and detrimental to private companies. On August 29, the Court of Appeals in the Federal District of Columbia found that Trump did not have the necessary authority to impose many of the duties. On September 4, the American administration appealed to the Supreme Court with a request to cancel the ruling.