Home » News » Tariffs are raising billions — but at a steep economic cost : NPR

Tariffs are raising billions — but at a steep economic cost : NPR

by Emma Walker – News Editor

Washington,D.C. – The Trump administration’s tariffs ⁤are generating billions ⁢in revenue for ⁣the U.S.⁢ government, but ⁤economists warn of meaningful economic ‌consequences as the ​Supreme Court prepares​ to rule on their ⁣legality. The case centers on whether the president exceeded his authority when imposing tariffs based on national security concerns.

While the administration argues tariffs are vital to ⁢national economic strength, data reveals they accounted for only 6% of total government revenue in September, the⁣ latest month ⁤available. This ⁢revenue increase was offset by a decline in corporate⁤ tax payments. The outcome of the ⁣Supreme Court case ⁣could reshape the ⁤future ⁤of U.S. trade policy and impact businesses and consumers nationwide.

The administration has cautioned of ⁣severe repercussions should the high ⁢court invalidate ​the tariffs.”With tariffs,we are a rich nation; without ​tariffs,we ⁢are a poor nation,” the ‍administration stated in ​its Supreme Court brief,adding that America “could go from strength to failure the moment such an⁤ incorrect decision took effect.”

However, even if the Supreme Court deems the current tariffs unlawful, President Trump possesses​ alternative avenues ‍to implement import taxes using powers explicitly delegated by ⁣Congress. Georgetown University law professor Kathleen Claussen, a tariff expert, believes the president “could piece together something very close to⁢ – if not identical to – what he’s done so far.” She acknowledges potential ‍further legal⁢ challenges but suggests the president could⁣ largely replicate the ​existing tariff structure through established statutes.

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