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In arguments before the supreme court, the white house backed away from its claims that president trump’s tariffs were about raising revenue. “we took $88 billion in tariffs in two months, far beyond what anybody expected,” the president. But even for this court, allowing any president to impose the largest tax increase since 1982 ($3.9 trillion over a decade, trump’s own budget office estimates) without any input from congress.
President donald trump on sunday said his tariffs, most of which an appellate court ruled illegal, have brought in “trillions of dollars”—which matches estimates from some economists for. Trump first made the claim while speaking to reporters at a june 11 event at the kennedy center In a labor day post, trump claimed that the u.s
Has “already taken in trillions of dollars” from tariffs, including an image suggesting “$8 trillion in tariff revenue.” there is no evidence that tariff revenue under trump’s second term totals anywhere near $8 trillion.
The congressional budget office estimates that the tariffs trump has implemented since january will generate an estimated $3.3 trillion over 10 years—significantly less than the $8 trillion. The supreme court will decide whether president trump’s sweeping global tariffs are legal in a case with major consequences for the global economy and presidential power.
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