In a 7-4 vote over the weekend, the US appeals court ruled that Mr. Trump had unlawfully invoked the International Emergency Economic Powers Act to impose tariffs on countries around the world by signing a presidential executive order. The appeals court noted that Mr. Trump's actions had exceeded the authority given to the White House by the court, not only to repeal the tariffs now, but also not to do so in the future. This is tantamount to a bolt from the blue for Trump.That night, he posted dozens of tweets on social media, criticizing the Court of Appeal for “destroying the U.S. economy” as a catastrophe.
Emergency Economic Powers Act
The International Emergency Economic Powers Act, passed by both houses of Congress and signed into law by then-President Jimmy Carter on Oct. 28, 1977, gives the president more power in peacetime to respond to threats to the nation. In short, it is a plug-and-play countermeasure.
The United States was in a crucial period of the Cold War.They once believed that the Soviet Union would become a thousand-year empire that would coexist with the United States for a long time.The introduction of the bill would allow the White House to respond faster to attacks from the Eastern camps and defend American interests. Over the years, the bill has been activated several times, mainly to sanction transactions involving the United States, confiscate other countries, or be identified as assets of hostile organizations.This is of course a typical long-arm jurisdiction, which belongs to using the domestic laws of the United States to interfere in other countries 'internal affairs, and we also suffer greatly from it.
Not to mention, Trump's two predecessors, Obama and Biden, both used this emergency power to sanction Russia during the Ukrainian Square Revolution in 2014 and after the outbreak of the Russia-Ukraine conflict in 2022. But Trump's approach is to redefine "emergency power",He and his team believe that the White House can do whatever it wants as long as a national emergency is declared.
Trump is furious
Now, the Court of Appeal has ruled that you cannot do this. It seems that this is the separation of powers system in the United States and has finally begun to correct mistakes, but in fact, there is still a power struggle between the two parties in the United States. Unlike the Republican Party, which controls traditional capital, the Democratic Party is more powerful in the legal arena. As Trump said, the Court of Appeal's decisions are "highly politicized" and they want to completely destroy the United States.
Trump also said that the U.S. Treasury would "collapse in an instant" if his tariffs were lifted and some of the tariffs had to be refunded. This is true, because the U.S. federal debt has just exceeded the $37 trillion mark, and the Federal Reserve is still holding on to interest rates.If Trump did not "subsidize households" for such high tariffs, the basic functioning of the government would not be sustained.
And this also brings up a more crucial question, what happened to the U.S. economy, as the world's first economic power, how suddenly, they can't play? in fact, the U.S. economic problems are not complicated, that is, after decades of industrial emptiness, they have lost the ability to make commodities for money, the United States still has monetary hegemony,But after the epidemic in 2020, the global economy entered a period of contraction, and the dominance of the dollar appeared very serious problems.
The deadly wounds of the US economy
A currency that wants to maintain hegemony must be used by enough countries, and can only increase and not decrease. Global economic contraction means that the use of the dollar is trading less, and the internationalization of the yuan is also crushing the dollar’s survival space. Based on these major changes, the U.S. economic collapse is what will inevitably happen.Even Trump said when he elected president last year that he hoped the economic crisis would happen before he took office.
Now, he is only using tariffs, robbing global and U.S. taxpayers, to sustain the U.S. economy, typically drinking and thirsting.Maybe the Court of Appeal is not troubled, he can hold up to the midterm elections, or even the entire term, but the problems facing the U.S. economy and the U.S. dollar hegemony are ultimately unresolved.There is a Chinese saying that early death and early survival,For the Trump administration, that moment may have arrived.
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