WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the Supreme Court of the United States overturned tariffs that President Donald Trump has imposed on the basis of the International Emergency Economic Powers Act (IEEPA).

Chairman Smith said, “In just a year, President Trump’s successful America First trade policy has secured massive wins for our farmers, workers and manufacturers in the form of new trade deals with our largest trading partners that unlock unprecedented export opportunities by removing high tariffs and non-tariff barriers to U.S. products, while obtaining commitments from trading partners to invest over $1 trillion in American workers and businesses. In just a single year, President Trump reduced our trade deficit with China by $94 billion, a 32 percent decrease. In October 2025, we had the smallest monthly trade deficit since 2009. American farmers and businesses exported a record $3.4 trillion worth of goods and services last year, fueling more jobs and wealth here at home. And President Trump’s tariffs were on track to shrink the U.S. budget deficit by $3 trillion over a 10-year period. New trade agreements with a wide range of countries have addressed massive barriers to U.S. agricultural exports. For example, U.S. agricultural exports to Cambodia now face zero tariff, compared to an average 11.9 percent tariff one year ago; and Japan has committed to $8 billion in additional purchases of U.S. farm products. These are huge accomplishments. We can’t go back to business as usual and reverse the historic gains for workers, farmers, and businesses won by President Trump’s trade policy.

“President Trump’s announcement this afternoon that he will immediately implement new tariffs under Section 122, while initiating additional Section 301 investigations to address unfair foreign trade practices, is firmly rooted in authority that has been granted to the president, and I’m confident will send a strong message to other nations that the President can and will continue pressing them for a better deal for American workers and farmers. I will work closely with President Trump and his administration to ensure these hard-fought gains are not reversed by a single, unfortunate court decision.”