(MENAFN) US President Donald Trump asserted on Wednesday that the tariffs imposed by his administration had safeguarded the world from an economic catastrophe, while underscoring the significance of a major Supreme Court case concerning presidential emergency powers and tariff authority.

"Well, I heard the court case went well today," Trump remarked during an interview with Fox News, emphasizing that "it would be devastating for our country if we lost that. Devastating. I think it's one of the most important, maybe the most important, but one of the most important cases in the history of our country."

The US Supreme Court commenced hearings on Wednesday in a historic case that challenges Trump’s invocation of emergency powers to impose extensive tariffs — a legal battle that could reshape the scope of executive influence over international trade policies.

"If I didn't have tariffs, the entire world would be in a depression. Because, you know, that wasn't a threat against us. That was a threat against the entire world. I did this for the world," he asserted, portraying his trade measures as a global safeguard.

Arguing that his tariffs targeting China were vital in maintaining worldwide financial stability, Trump declared: "I can guarantee you this: If I didn't put a 100% tariff immediately on China, the entire world -- because of magnets, a special kind of rare earth, etcetera -- we'd be closed up."

He went on to highlight his diplomatic engagements, noting, "We had a very successful meeting with President Xi (Jinping) of China and others. Without tariffs, that would not have taken place," suggesting that his trade policies were instrumental in facilitating key international discussions.

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