Earlier this week, the U.S. Court of International Trade ruled the tariffs were illegal. Yesterday, a second court followed suit.

There is no other way to say it: liberal judges are waging unrestricted lawfare against President Trump.

First, they protected illegal immigrants from deportation—literally sheltering criminals from justice.

Now, they’re protecting foreign governments and multinational corporations from President Trump’s tariffs.

This is not surprising. Wall Street is engaging in total warfare against President Trump. Why? Because Wall Street profits tremendously from the trade deficit, to the tune of over $1.2 trillion per year. If President Trump is successful, this gravy train comes to an end.

How Wall Street Sold America for [$25 Trillion] Pieces of Silver

America has run a chronic trade deficit every year since 1974. The total cumulative value of this trade deficit (adjusted for inflation) is over $25 trillion.

That is, Americans bought $25 trillion more than they sold. Of course, we didn’t get the goods for free—we still had to pay for them. How? By selling assets and debt.

An asset is something that we made in the past that still retains value.

A good example of an asset is a house. The production of a house made in 1974 would contribute towards America’s GDP in 1973, but not today. However, the house—and the land—retains value and can be sold in the current year to buy foreign products. This sale would not count towards America’s GDP, nor would it factor into the trade deficit, but it does balance the payment.

Just like the Canarsee, America trades assets—everything from Iowa’s best farmland to shares in New York’s largest companies—every year to pay for our trade deficit. For example, in 2024, foreigners bought an estimated $42 billion of residential real estate, $8 billion of agricultural land, and $12 billion of commercial real estate.

Needless to say, this buying pressure raises real estate prices. This benefits people with exposure to the market—primarily institutional real estate investors—at the expense of the American people, who struggle to afford their rent or mortgages.

In addition to real estate, Americans also sell ownership of our businesses. As of June 2023, foreign investors own some 17 percent of all American equities. This inflates the stock market by guaranteeing buying pressure—again, benefitting Wall Street. The stock market balloons while factories and jobs vanish on Main Street.

Ownership of our businesses has other dire consequences, such as giving foreign governments direct access to our technologies. This perpetuates the massive theft of American intellectual property, which is estimated to cost America up to $150 billion every year.

Americans also sell debt to pay for the trade deficit.

This is sort of like buying groceries on our credit cards, except it is occurring at the national level. For example, foreigners own some $8.67 trillion of U.S. Treasury securities, accounting for 24 percent of the public debt. Further, America’s corporate and household debt has ballooned since 1973 to the highest levels since World War II.

Debt is especially dangerous because we have to repay the principal, and we pay interest. This inflates the cost of buying foreign products in a way that most economists fail to appreciate.

Consider that America became a debtor nation in 2006—for the first time since the Great Depression. As a result, we are now paying over $150 billion in interest every year to foreign entities for the privilege of buying the products we should be building.

Given the massive profits that Wall Street earns in selling out America, is it any wonder that they are funding litigation to stop President Trump’s tariffs?

The President needs to stand firm. Remember, tariffs are the time-tested solution that was supported by America’s most successful presidents, from George Washington to Abraham Lincoln to Donald Trump.

Tariffs will reshore American industry and shift our economy from consumption to production, protecting our economy, our industry, and our national security.

Most importantly, tariffs will make it harder for Wall Street to betray the American people.