U.S. will struggle "for years" if tariffs struck down, Trump says

The U.S. economy will be left struggling if the Supreme Court strikes down most of the tariffs imposed this year, President Trump said in a Fox News interview Sunday.Why it matters: Trump and other cabinet members have framed the tariff case in apocalyptic terms, saying it would "literally destroy the United States" if the high court finds the president overstepped his authority.What they're saying: Trump, in an interview with Maria Bartiromo on "Sunday Morning Futures," said the revenue and diplomatic leverage from tariffs made it vital to win the case."If we don't, we'll be struggling for years to come," Trump said.He went on to claim that he's ended eight wars and that five of the eight were stopped as a direct result of tariff leverage, including the conflict between nuclear powers India and Pakistan.Catch up quick: Most of the tariffs Trump imposed this year were implemented via a 1970s-era law, the International Emergency Economic Powers Act (IEEPA).The Court of International Trade ruled in May that IEEPA didn't give Trump the authority to levy sweeping global tariffs. An appellate court later upheld that ruling. The Supreme Court is due to hear oral arguments in the case in early November. Economists estimate that roughly 70% of the tariffs imposed so far would fall if the court upholds the IEEPA ruling — though the administration has more recently made more aggressive use of different and better-tested trade authorities, like Section 232 sectoral tariffs. "This is being fought by radical left lunatics that don't even know what they're doing and people that represent foreign countries that have taken advantage of us for years," Trump said of the IEEPA case.The plaintiff in the case, V.O.S. Selections, is a New York-based, family-run wine importer. What to watch: What happens if the administration loses."I'll have to figure something out. I don't want to even think about it, we're doing so well," Trump said. "If they took away tariffs, then they've taken away our national security."

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