U.S. President Donald Trump noted on the 31st via social media platform Truth Social that, just a year ago, the United States was a dead country, but now it has become the "hottest" country in the world.
Trump said, "Tariffs are making the United States great and wealthy again." He continued, "For decades, tariffs have been used against the United States, destroying the future and survival of the country in collusion with foolish and corrupt politicians," and claimed, "Now that trend has been completely reversed, and the United States has successfully defended itself against tariff attacks."
It is interpreted that Trump evaluated the achievement of reaching trade agreements with major countries ahead of the expiration of the mutual tariff suspension on August 1. The Trump administration has completed trade negotiations with Korea, Japan, the European Union (EU), Vietnam, Indonesia, the Philippines, Thailand, and Cambodia.
Instead of applying a lower reciprocal tariff rate of 15% than previously announced for Korea, Japan, and EU, which have large export volumes to the United States, the administration secured a promise of substantial local investment in the United States.
Trump also wrote on Truth Social, "I wish for a good outcome in America's important lawsuit today," adding, "If the United States cannot protect itself with tariffs, it would have been destroyed." This appears to refer to the U.S. Federal Appeals Court entering a hearing on whether the Trump administration's reciprocal tariffs are legal.
Previously, the United States Court of International Trade (USCIT) ordered Trump to withdraw the reciprocal tariffs he implemented under the International Emergency Economic Powers Act (IEEPA), stating that the exclusive authority to impose tariffs lies with Congress. The Trump administration immediately appealed, leaving the USCIT's order currently in effect.
There is a prevailing view that whether Trump's reciprocal tariffs were beyond authority will ultimately be determined by the Supreme Court.