Why this Trump official says SCOTUS ruling against tariffs would cause 'economic pain and hardship'

Core Argument - The Supreme Court's skepticism regarding the president's legal authority to impose tariffs under emergency economic powers raises concerns about the future of these tariffs and their impact on the economy [1][2][4]. Tariffs and Economic Policy - The administration believes it has made a compelling case for the president's authority to declare emergencies related to foreign policy and impose tariffs as a response to trade deficits and national security issues [2][4]. - Tariffs are viewed as a key tool for addressing economic emergencies, with the International Economic Emergency Powers Act (IEEPA) granting the president the authority to regulate imports, potentially including embargoes [6][7]. - The current tariff policy is integral to the administration's economic agenda, aimed at re-industrializing the U.S. economy and reducing trade deficits [8][13]. Economic Impact of Tariff Reversal - A ruling against the administration could lead to significant economic pain, including increased uncertainty and a drag on economic growth, as highlighted by Federal Reserve officials [9][10]. - The administration has collected nearly $200 billion in tariff revenue as of September 30, which underscores the financial implications of these tariffs [10]. - Financial markets have reacted positively to the current tariff policies, and any reversal could damage market confidence and economic stability [12][13]. Contingency Plans - The administration is prepared with contingency plans to enact tariffs through other legal avenues if the Supreme Court rules against them [15][16]. - Various sections of trade law, such as Section 232, could be utilized to impose additional tariffs if necessary [15]. Government Shutdown and Economic Consequences - The ongoing government shutdown, now the longest on record, poses risks to economic stability, with estimates suggesting a loss of up to $15 billion per week, potentially impacting GDP growth [20][21]. - The shutdown has already affected military payments and essential benefits, leading to broader economic implications if it continues [17][21]. - The administration emphasizes the need for bipartisan cooperation to resolve the shutdown and prevent further economic damage [22].