Treasury official warns of widespread economic damage if Supreme Court rules against Trump's tariffs [View all]

Source: Yahoo Finance

The Trump administration is warning that if the Supreme Court were to dismantle President Trump's tariffs, it would cause "unnecessary economic pain and hardship," damaging financial markets and confidence.

"To the extent that the policy would be reversed or watered down, that would damage financial markets," Counselor to the Treasury Secretary Joe Lavorgna said this week in an interview with Yahoo Finance. "You've seen record high equity markets, record low credit spreads. You've seen commitments by all different countries and companies to invest in the US.”

"It would damage confidence. The economic system — capitalism — works on confidence," he added.

While economists acknowledge it could lead to greater uncertainty, they and others say the impact of a ruling against Trump could have other impacts — including positive ones.

Read more: https://finance.yahoo.com/news/treasury-official-warns-of-widespread-economic-damage-if-supreme-court-rules-against-trumps-tariffs-190100275.html

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So...according to this administration, the issue is not whether the tariffs are illegal, but the impact on the economy if the tariffs are declared illegal...