US President Donald Trump on Tuesday (local time) called the Supreme Court's ruling on tariffs 'unfortunate'. defending his move that has turned many countries against Washington. The Republican president said that the tariffs would help in easing the financial burden on the Americans, replacing the current income tax system in the country.
The 79-year-old made the remarks while delivering the first State of the Union address of his second term to a joint session of Congress in the House Chamber of the United States Capitol in Washington.
"I believe the tariffs, paid for by foreign countries, will, like in the past, substantially replace the modern-day system of income tax, taking a great financial burden off the people that I love," Trump said.
Trump called the Supreme Court ruling on tariffs unfortunate but noted that nearly all other countries and organisations are interested in keeping the deal that they already made. He said that the countries work along the same successful path that has been negotiated "before the Supreme Court's unfortunate involvement".
"One of the primary reasons for our country's stunning economic turnaround, the biggest in history, where the Dow Jones broke 50,000 four years ahead of schedule and the S&P hit 7,000 where it wasn't supposed to do it for many years, were tariffs," Trump said.
"I used these tariffs, took in hundreds of billions of dollars to make great deals for our country, both economically and on a national security basis. Everything was working well," he added.
US Supreme Court ruling on Trump's global tariffs
Last week, the Supreme Court of the US struck down Trump's global tariffs. In a 6-3 decision, the court found that the Constitution "very clearly" gives Congress the power to impose taxes, which include tariffs. Chief Justice John Roberts wrote that that the framers did not vest any part of the taxing power in the Executive Branch.
Following the verdict, the US president had hiked the global tariffs from 10 per cent to 15 per cent. According to Trump, the decision was taken on a "thorough, detailed, and complete review" after the Supreme Court ruling.
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