Washington: U.S. President Donald Trump stated that he is "anxiously" anticipating a Supreme Court decision regarding the legality of his administration's global tariffs. During a press conference, Trump reiterated his defense of these tariffs and addressed the potential complexities of a tariff refund process if the court rules against his administration.

According to Yonhap News Agency, the Supreme Court is currently evaluating Trump's use of the 1977 International Emergency Economic Powers Act (IEEPA) to impose "reciprocal" tariffs on South Korea and other trading partners. Trump emphasized the financial gains from the tariffs, stating, "We've taken in hundreds of billions of dollars, and if we lose that case, it's possible we're going to have to do the best we can in paying it back."

Trump acknowledged the potential difficulties in refunding the tariffs without causing widespread disruption, expressing concern over the process while maintaining his stance on the tariffs' benefits to national security and federal revenue. He asserted, "We have tremendous national security because of tariffs and tremendous income we have and, by the way, no inflation."

Despite expectations for a prompt ruling, the Supreme Court did not issue a decision on the tariff case, leaving the administration and stakeholders in anticipation. This follows an August federal appeals court ruling that the IEEPA tariffs exceeded presidential authority, supporting a prior decision made in May.

The Trump administration had adjusted its reciprocal tariffs on Korean products from 25 percent to 15 percent, aligning with a bilateral trade and investment agreement that includes a commitment from Seoul to invest US$350 billion in the United States. In April, Trump announced the reciprocal tariffs, citing the lack of "reciprocity" in trade and its impact on U.S. trade deficits as a significant threat to national security and the economy.