Trump, tariff public opinion battle…"At least 2000 dollars dividend per person"

Source
Korea Economic Daily

Summary

  • President Donald Trump emphasized that tariff policy had a positive effect on the U.S. economy and the stock market.
  • Trump said that a minimum 2000 dollars dividend per person would be paid to all citizens except high-income earners.
  • As the U.S. Supreme Court began hearings on the president's unlimited authority to impose tariffs, Trump has been strongly asserting the legitimacy of tariffs.

U.S. President Donald Trump has been waging a daily public opinion battle as the U.S. Supreme Court begins hearings on tariff policy.

On the 9th (local time), Trump wrote on his social networking service (SNS) Truth Social, "Those who oppose tariffs are fools," adding, "We are now the wealthiest and most respected country in the world, inflation is almost non-existent, the stock market is at an all-time high, and 401k retirement account balances are at record levels."

He went on to say, "We have made trillions of dollars and will soon begin to pay off the enormous debt of 37 trillion dollars," and "A dividend of at least 2000 dollars per person will be paid to all citizens except high-income earners."

Trump made clear in the process that tariffs are within the authority of the U.S. president. He said, "The reason companies are flocking to the United States is only tariffs," and added, "Has the U.S. Supreme Court not heard this? What on earth is going on?"

Trump criticized, "The U.S. president can halt all trade with foreign countries and can grant licenses to foreign countries, so even for national security, does that mean the president cannot impose even simple tariffs on foreign countries?" and said, "This is not what our great Founding Fathers had in mind."

Trump has been urging the Supreme Court for a 'right' decision daily. Earlier, on the 6th he warned, "(The lawsuit over the legality of tariffs) is one of the most important trials in our country's history," and "(If we lose) it will be quite a disaster for this country."

He also said, "Tariffs have made us wealthy and have made us safe in terms of national security," and expressed concern, "We attracted investment from the European Union (EU), Japan, and South Korea based on tariffs, and without tariffs we would not receive that money."

A lawsuit is underway over whether President Trump has unlimited authority to impose tariffs; earlier, both the first and second trial courts ruled that reciprocal tariffs are invalid. The Supreme Court began full hearings on the 5th of this month.

No Jeong-dong Hankyung.com reporter dong2@hankyung.com

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Korea Economic Daily

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