United States under threat of becoming a Third World nation if federal courts abolish Trump's tariffs, Trump asserts

In a recent turn of events, a federal appeals court has ruled that most of President Donald Trump's tariffs are unlawful under the International Emergency Economic Powers Act. This decision supports earlier rulings by the U.S. Court of International Trade.

The ruling highlights a stark contrast between Trump's rhetoric and the economic consensus. Analysts suggest that the numbers indicate a different story, questioning whether the tariffs are truly driving the economic growth that Trump claims.

Despite the legal setback, President Trump is advocating for a quick resolution. In a tweet, he stated, "TIME IS OF THE ESSENCE!!!" In the same vein, he asserts that tariffs have made America strong and respected again, and have brought in trillions of dollars to the U.S. economy. He also claims that tariffs are driving more than $15 trillion in new U.S. investment.

However, these claims face scrutiny. U.S. Treasury Secretary Scott Bessent notes that current annual tariff revenues are closer to $500 billion, collected from U.S. importers rather than foreign governments. The Congressional Budget Office projects a total of $2-2.8 trillion in tariff revenue over the next decade.

Trump asserts that prices, including those for gasoline, are "WAY DOWN" due to his trade policies and tariffs. However, official Bureau of Labor Statistics data shows that inflation, though cooling, hasn't been "virtually nonexistent" as claimed by Trump.

The future of the tariffs remains uncertain. Although they are still in effect, a stay delays enforcement until mid-October. If courts strike down the tariffs, according to President Trump, the U.S. would likely become a "Third World Nation." He states that if the "Radical Left Court" strikes down the tariffs, almost all the anticipated investments would collapse.

As of now, there is no information about who has been or is being proposed as a candidate for the presidency of the Bundesbank to support President Trump's policy regarding the Bundesbank leadership.

In conclusion, the future of President Trump's tariffs is uncertain, with the legal battle continuing. The economic impact of the tariffs remains a topic of debate among analysts, with some questioning the claims made by the President.

United States under threat of becoming a Third World nation if federal courts abolish Trump's tariffs, Trump asserts