Washington DC [US], September 16 (ANI): US President Donald Trump on Tuesday claimed that a victory in the ongoing US Supreme Court case over his sweeping global tariffs would position America as 'by far the richest country anywhere in the world', granting 'tremendous' negotiating power to Washington.

Speaking to reporters ahead of his upcoming visit to the United Kingdom, Trump once again credited his tariff policy with resolving multiple international conflicts while highlighting the high stakes of the legal battle that challenges his use of powers to impose tariffs on imports from countries across the world.

'If we win the Supreme Court case, which is the finalisation of tariffs, we will be by far the richest country anywhere in the world... We'll have tremendous power to negotiate. By using tariffs, I settled seven wars. Four of them were because I was able to do tariffs,' Trump asserted.

Trump was referring to the case in the US Supreme Court to reverse a lower court's decision that found his administration acted illegally when it imposed several import taxes.

These include the 'Liberation Day' tariffs announced on April 2, as well as tariffs targeting China and India.

According to CNN, the US Supreme Court last week agreed to take up a case challenging Trump's wide-ranging global tariffs, which were a key part of his economic policy. Until the court issues a ruling, the tariffs will stay in effect.

The case brings a major economic issue before the conservative-leaning court and centres on whether a president can impose emergency tariffs without explicit authorisation from the US Congress, CNN reported.

The Supreme Court said it will hear oral arguments in the case during the first week of November. While decisions are typically issued by the end of June, the court noted it will expedite the process in this case.

This comes after a federal appeals court in August invalidated several of his administration's tariffs, ruling that he exceeded his authority by using emergency powers to impose the import duties, as reported by CNN.

According to CNN, in an unsigned opinion affirming a lower court's decision, the US Court of Appeals for the Federal Circuit concluded that the International Emergency Economic Powers Act (IEEPA) does not permit the kind of tariffs that Trump enacted earlier this year.

The court emphasised that Trump's use of the law represented an unprecedented overreach of executive authority, noting that the power to levy taxes and tariffs is a fundamental responsibility granted by the Constitution to Congress. (ANI)