"I think what you are seeing happening on Wall Street here is that there is a knee-jerk reaction celebration in terms of the use of tariffs. Perhaps that tool taken out of President Trump's tool boxBut I have to say I think that in many corners of the White House, this was expected, even though they have been saying repeatedly we think it is going our way. They have been planning and looking at ways to actually raise revenue to replace the lost revenue."
"Where it really gets tricky and just a bit of a black eyeis the fact that the White House initially will have to pay money back. And you are talking about $250 to $300 billion in revenue that the White House has already raised, 289 billion in revenue it has already raised in tariffs, which is embarrassing and it will have to go back."
The U.S. Supreme Court invalidated tariffs previously imposed by President Trump, removing a tariff tool from the presidency. Wall Street initially reacted with celebratory trading over the decision. The White House must address substantial tariff revenue collected—about $289 billion—and will likely need to refund much of it, creating a fiscal challenge. Treasury and White House insiders are developing alternative revenue measures to replace lost tariff funds. The administration is expected to pursue new revenue tools rather than accept the ruling without response. Businesses and markets should not assume the removal of tariffs ends potential future trade or revenue actions.
#supreme-court-decision #trump-tariffs #tariff-revenue-refunds #white-house-fiscal-planning #market-reaction
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