President Donald Trump has issued a dire warning about the potential consequences of court rulings against his tariff policies. In a post on Truth Social, he stated that such a ruling could lead to "economic ruination" for the United States. Trump emphasized that if the courts decide against his tariffs, it would empower other nations to impose retaliatory tariffs, which he claims would hold the U.S. "hostage" to anti-American measures.

This warning comes as the Trump administration continues to navigate legal challenges surrounding its tariff policies. Recently, a court deemed some of Trump's tariffs illegal, although another court later reinstated them. Commerce Secretary Howard Lutnick expressed confidence in the administration's position, stating, "The president is going to win like he always does, but rest assured, tariffs are not going away. Congress has given this authority to the president, and he’s going to use it."

The U.S. Court of International Trade has argued that the authority to impose tariffs lies with Congress, raising questions about the legality of Trump's actions. Despite these challenges, Trump has recently increased tariffs on imported steel from 25% to 50%. He also announced a deal with Japan to sell U.S. steel to Nippon Steel, a move he previously opposed. Trump remarked, "Japan very much wants to make a trade deal. I don't think this has much to do with it, but certainly it certainly won't hurt because we have a very good relationship with Japan."

Tensions with China remain high, as Trump accused the country of violating trade agreements. He stated that he will "no longer be Mister Nice Guy" in dealings with China, which has not lifted its ban on rare earth minerals essential for global supply chains. Treasury Secretary Scott Bessent commented on China's actions, saying, "What China is doing is they are holding back products that are essential to the industrial supply chains of India, of Europe and that is not what a reliable partner does."

In addition to tariffs, the White House is promoting trade as a tool for national security. Trump noted, "I think the deal I'm most proud of, that we're dealing with India, we're dealing with Pakistan, and we were able to stop potentially a nuclear war through trade as opposed through bullets."

As the legal battles over Trump's tariff policies continue, the stock market appears to remain resilient. May marked the best performance for the stock market in 30 years, indicating that investors are currently unfazed by the ongoing tariff disputes.