The “Big Money Show” panel is debating China Trade Talks after Treasury Secretary Scott Bescent said negotiations had stagnated.
President Donald Trump said on Sunday that if the court opposes the administration’s drastic tariffs, it would mean “economic destruction” in the country.
The post comes after the US Court of International Trade (CIT) ruled unanimously on Wednesday and ruled unanimously to block the use of emergency laws to punish import taxes.
Members of the three judge panel appointed by former President Trump, former President Barack Obama and former President Ronald Reagan said Trump has stepped too hard and has no “unbound powers” to impose tariffs.
Federal judge blocks Trump’s tariff enforcement order 5
President Trump has warned of economic destruction if the court ruled on his tariffs after the US International Trade Court blocked emergency import taxes. (Chip Somodevilla / Getty Images / Getty Images)
“If the court somehow controls us on unanticipated tariffs, it would allow us to hold our country hostage with anti-American tariffs that other countries use against us,” Trump wrote on a True Sunday afternoon. “This would mean economic destruction in the United States!”
Trump administration lawyers must submit their responses until 5pm Monday.
Trump condemns the court’s “political” tariff decision and calls on the Supreme Court to act quickly
Mutual tariffs on some US trading partners were scheduled to come into effect on April 2. (Getty Images/Alex Edelman via Getty Images/Bloomberg)
Following the court’s ruling, the federal court of appeals ruled in favor of the Trump administration on Thursday, delaying the decision of lower courts and obstructing the use of the International Emergency Economic Force Act (IEEPA). 10% baseline tariffs and “mutual tariffs.”
The mutual tax, released by the White House on April 2, was used by the Trump administration as a negotiation tactic with other countries before the court battle.
President Donald Trump presents a signed executive order during an event at the White House on April 2nd, which imposed tariffs on imports. (Andrew Harnik / Getty Images / Getty Images)
The Federal Circuit Court of Appeals filed the Trump administration until June 9 to file a response to plaintiffs until Thursday.
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Breanne Deppisch of Fox News Digital contributed to this report.
