Trump Claims U.S. Tariff Policy Averted a Global Economic Depression

November 6, 2025 | 09:41 pm

TEMPO.CO, Jakarta - United States President Donald Trump claims that the tariff policy implemented by his administration has prevented a global economic depression.

Trump also emphasized the importance of the Supreme Court case discussing the president's emergency authority to implement trade tariffs.

"Well, I heard the court case went well today," Trump said in an interview with Fox News on Wednesday, as quoted by Anadolu. "It would be devastating for our country if we lost that. I think it's one of the most important, maybe the most important, but one of the most important cases in the history of our country."

The U.S. Supreme Court has begun hearing arguments in a historic case that challenges Trump's use of emergency powers to impose large-scale tariffs. This dispute could potentially redefine the limits of presidential authority in trade policy.

"If I didn't have tariffs, the entire world would be in a depression. Because, you know, that wasn't a threat against us. That was a threat against the entire world. I did this for the world," he said.

Trump claims that the tariffs on China are crucial for stabilizing the global economy. "I can guarantee you this: If I didn't put a 100% tariff immediately on China, the entire world - because of magnets, a special kind of rare earth, etcetera - we'd be closed up," he added.

Trump also mentioned that the meeting with Chinese President Xi Jinping was successful thanks to the tariff policy. "Without tariffs, that would not have taken place," he said.

Trump's tariff policy began with a 10 percent tariff for some countries, increasing to 50 percent for most products from Brazil and India.

By the end of the fiscal year in September, U.S. tariff revenue reached $195 billion(around Rp3.254 trillion). From February to September, approximately $176 billion (around Rp 2.937 trillion) was transferred to the U.S. Department of the Treasury.

The day before, Trump had called the case a "life-or-death" issue for the country, emphasizing that the Supreme Court's decision would have a significant impact on the U.S.'s economic and national security.

Opponents of the tariff policy argue that using the International Emergency Economic Powers Act (IEEPA) to unilaterally regulate global imports raises constitutional issues.

However, the Trump administration asserts that the retaliatory tariffs imposed are fully legal.

Should the Supreme Court reject Trump's arguments, future U.S. presidents would no longer be able to use the IEEPA to unilaterally impose tariffs.

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