Washington: U.S. President Donald Trump warned Thursday that tariffs on trading partners could be "much steeper," while claiming that his administration has been "very nice" in its implementation of his tariff policy. Trump made the remarks during a Cabinet meeting at the White House amid uncertainty over the future of country-specific "reciprocal" tariffs that he has imposed under the 1977 International Emergency Economic Powers Act (IEEPA) as the Supreme Court weighs their legality.
According to Yonhap News Agency, Trump stated, "The tariffs are very ... you know ... steep. They could be much steeper." He insisted that despite the administration's courteous approach, the U.S. has collected hundreds of billions of dollars from the tariffs. Trump reiterated his belief that the tariffs have provided significant national security and strength for the United States.
Trump also criticized those opposing the tariffs, labeling them as "China-centric." He argued that these individuals and countries have taken advantage of the U.S. for years by imposing tariffs on American goods. "These are countries that have ripped us off for years and years," he said.
The Supreme Court is expected to deliver its decision on the IEEPA-based tariffs in the coming months. A ruling against these tariffs could lead to demands for tariff refunds, although the Trump administration is anticipated to explore alternative legal strategies to uphold its tariff policy. The court's decision will not impact other tariff types, such as those on autos and various other sectors.
Trump has been utilizing tariffs as a strategic tool to address U.S. trade deficits, enhance federal revenue, and stimulate foreign investments alongside domestic manufacturing efforts.