Repeatedly Defends Tariff Policy on Social Media
"Will Pay $2,000 from Tariff Revenue... Remaining Funds to Repay National Debt"
Donald Trump, President of the United States, claimed on November 10 (local time) that if the Supreme Court rules his tariff policy illegal, the government would have to refund over $2 trillion (about 2,913 trillion won) in tax revenue and investment funds, warning that this would be a disaster for national security.
On the same day, President Trump wrote on his social networking service, Truth Social, that if he loses the Supreme Court case, "the actual amount we would have to return in tariff revenue and investment would exceed $2 trillion," adding, "That alone could be a catastrophe for national security."
He asserted, "Radical left-wing fanatics want us to lose on the tariff issue," arguing, "because they know how bad the consequences would be for our country." He continued, "Opponents within the U.S. Supreme Court are presenting low numbers to make it seem as if the Court can easily resolve this, even though these anarchists and thugs have driven us into this terrible situation."
This is a claim that the plaintiffs are intentionally presenting a lower estimate of the refund amount so that the burden would be reduced if the government loses in the Supreme Court.
Previously, Jamieson Greer, the representative of the United States Trade Representative (USTR), predicted that if the government loses in the Supreme Court, the tariff refund amount could exceed $100 billion. However, President Trump raised the warning level by mentioning a much larger figure of $2 trillion, including investment funds from overseas into the U.S.
These remarks came as the Supreme Court began reviewing the legality of the Trump administration's tariff policy on November 5. The Supreme Court is currently deliberating whether President Trump's imposition of tariffs on various countries, based on the International Emergency Economic Powers Act (IEEPA) after declaring the U.S. trade deficit a "national emergency," was lawful. As even conservative justices have expressed skepticism during this review, raising the possibility of a defeat, President Trump has been actively defending his tariff policy day after day.
Although the Supreme Court currently has a conservative majority (six conservatives and three liberals), during the hearing on November 5, even conservative Chief Justice John Roberts, Justice Amy Coney Barrett, and Justice Neil Gorsuch expressed skepticism toward the government's argument. This has led to speculation that the Supreme Court may partially block the Trump administration's sweeping tariffs. Both the district and appellate courts had previously ruled the tariffs illegal.
If the Supreme Court also rules the tariffs illegal, the Trump administration may be required to refund some tariffs to foreign companies. Investment funds from foreign governments and companies that were attracted to the U.S. using tariffs as leverage may also become subject to refund claims.
In this context, President Trump has continued to mention "tariff dividends" for two consecutive days to rally public support for his tariff policy. In another post on the same day, he stated, "With the massive tariff revenue flowing into our country from abroad, we will pay $2,000 (about 2.91 million won) to low- and middle-income American citizens, and any remaining funds will be used to pay down the national debt." This followed his statement the previous day on social media, pledging to pay a minimum dividend of $2,000 per person to everyone except high-income earners.
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