President Trump. [AP=Yonhap News]

U.S. President Donald Trump said on the 2nd (local time) that "it would be a terrible blow to America if we lose the ability to impose tariffs on other countries that treat us unfairly."

Trump said on his social media platform Truth Social, "Tariffs are an overwhelming benefit to our country, and they have greatly contributed to national security and prosperity at levels never seen before," adding to his remarks.

With the U.S. Supreme Court reviewing the legality of President Trump's broad tariff policy, Trump has been continuing a public relations campaign to highlight the benefits of his tariff policy for the American people.

The argument is that tariffs can correct unfair trade practices, induce investment from foreign companies in the U.S., and create jobs.

Trump has also warned that if the Supreme Court does not uphold the executive branch's authority to impose tariffs, the U.S. could face tariff refund lawsuits worth trillions of dollars.

The Supreme Court is currently deliberating whether President Trump's designation of the U.S. trade deficit as an "emergency" and his subsequent imposition of so-called "reciprocal tariffs" (tariffs by country) under the International Emergency Economic Powers Act (IEEPA) was legally justified.

A Supreme Court ruling is possible as early as this month.

If the Supreme Court rules in favor of President Trump, his tariff policy is expected to gain further momentum.

Conversely, if President Trump loses the case, while other legal alternatives like Section 232 of the Trade Expansion Act may be available for imposing tariffs, it is predicted that it would be difficult to impose tariffs as broadly as before.