WASHINGTON — President Trump declared Monday that the US would be “screwed” if the Supreme Court rules against his reciprocal tariff policies — arguing the feds would have to “pay back” billions in revenue collected over the past year.
“[I]f the Supreme Court rules against the United States of America on this National Security bonanza, WE’RE SCREWED!” Trump wrote on Truth Social.
“The actual numbers that we would have to pay back if, for any reason, the Supreme Court were to rule against the United States of America on Tariffs, would be many Hundreds of Billions of Dollars,” he wrote.
“[A]nd that doesn’t include the amount of ‘payback’ that Countries and Companies would require for the Investments they are making on building Plants, Factories, and Equipment, for the purpose of being able to avoid the payment of Tariffs.”
Trump argued that “[w]hen these Investments are added, we are talking about Trillions of Dollars! It would be a complete mess, and almost impossible for our Country to pay.”
“Anybody who says that it can be quickly and easily done would be making a false, inaccurate, or totally misunderstood answer to this very large and complex question,” he went on.
“It may not be possible but, if it were, it would be Dollars that would be so large that it would take many years to figure out what number we are talking about and even, who, when, and where, to pay.”
The Supreme Court is poised to rule as early as Wednesday on whether Trump could use emergency powers to impose sweeping tariffs announced last April, including a 10% baseline for most countries and higher rates that took effect in August for nations with which the US has a trade deficit.
The president used those tariffs to strong-arm most major trading partners into stiff concessions, including pledges to invest in the US and lower trade barriers for American goods in a series of deals that also came with elevated rates on their products.
Many of Trump’s other major tariffs would continue if the Supreme Court rules against him, including vehicle and car-parts tariffs of up to 25%, his current 10% fentanyl tariff against China, and 50% tariffs on copper, steel, and aluminum.
Those duties were enacted under different legal authorities.
Administration officials say that Trump would seek to resurrect the reciprocal tariffs under new legal justifications should the justices rule against his emergency authority, but the federal government would still have to repay roughly $150 billion.
The the case before the high court, Learning Resources v. Trump, questions whether Trump’s tariffs under the International Emergency Economic Powers Act (IEEPA) are an unconstitutional tax.
The educational toymaker’s case, if successful, would plunge the administration into a confusing period of repaying the many businesses and merchants that saw higher levies, with $133.5 billion collected under IEEPA as of December 14.
Treasury Secretary Scott Bessent, unlike Trump, argued Friday that repayments would not themselves be a major hurdle, claiming that the Treasury has $774 billion cash on hand.
“It won’t be a problem if we have to do it, but I can tell you that if it happens — which I don’t think it’s going to — it’s just a corporate boondoggle,” Bessent told Reuters. “Costco, who’s suing the US government, are they going to give the money back to their clients?”
“We’re not talking about the money all goes out in a day,” he added. “Probably over weeks, months, may take over a year, right?”
