Washington: U.S. President Donald Trump declared that nearly all countries prefer to retain their existing bilateral trade agreements with the United States, acknowledging that any new agreements could be unfavorable if renegotiated under his terms.

According to Yonhap News Agency, Trump's remarks came during his State of the Union address following a Supreme Court decision that rejected his use of the 1977 International Emergency Economic Powers Act (IEEPA) for imposing country-specific "reciprocal" tariffs and duties. Trump emphasized that the legal authority he holds as president to craft new deals could be disadvantageous for other nations, prompting them to maintain the current agreements.

Trump expressed confidence that countries and corporations would continue to adhere to the previously negotiated deals despite the Supreme Court's ruling. He mentioned that his administration has alternative legal mechanisms to uphold his tariff strategy, indicating that these have been thoroughly vetted and could potentially provide stronger solutions than the IEEPA.

The president assured that no new Congressional action would be necessary, as the alternative legal statutes for implementing tariffs are already validated and established.