Trump says US may become 'Third World Nation' if tariffs cancelled

MOSCOW: US President Donald Trump said that the United States would largely become a "third world nation" if the tariffs he had imposed were cancelled by the court.

AI Brief

US court ruled most Trump tariffs illegal, but they remain in effect pending a Supreme Court hearing.
Trump claims tariffs drive record investment, warning of economic collapse if they are removed.
New tariffs on 69 countries began August 7, with rates between 10% and 41%, sparking global trade tensions.

Earlier, the US Court of Appeals ruled that Trump did not have the right to impose tariffs in the way he did, so most of them are illegal, but the court upheld them until the Supreme Court hearing on October 14.

"More than US$15 Trillion will be invested in the USA, a RECORD.

"Much of this investment is because of Tariffs. If a Radical Left Court is allowed to terminate these Tariffs, almost all of this investment, and much more, will be immediately cancelled! In many ways, we would become a Third World Nation, with no hope of GREATNESS again. TIME IS OF THE ESSENCE!!!" Trump said on Truth Social.

Trump signed an executive order on August 1 to impose tariffs on a number of countries, the rate of which will be between 10 per cent and 41 per cent, according to documents released by the White House. The new tariffs were imposed on 69 of US trading partners and came into effect on August 7.

--BERNAMA-SPUTNIK/RIA NOVOSTI