The Supreme Court's 6-3 decision to invalidate Donald Trump's tariffs, based on the 1977 International Emergency Economic Powers Act, offers a temporary reprieve from policies that disproportionately harm working families. While Justices Gorsuch and Barrett, Trump appointees, sided with the majority, Trump's immediate response invoking a 1974 trade law to impose new tariffs reveals a continued commitment to an outdated economic nationalism that ultimately undermines American workers.

Trump's insinuation that Gorsuch and Barrett were influenced by “foreign interests” is a dangerous echo of nativist rhetoric that deflects from the real issues: decades of deindustrialization, corporate greed, and a failure to invest in sustainable, equitable economic growth. The 10% tariff imposed for 150 days will likely increase costs for consumers and businesses, further squeezing working-class families already struggling with inflation.

Trump's nostalgia for the 1970s, an era he believes offers a blueprint for “restoring strength,” ignores the profound shifts in the global economy. While anxieties about economic insecurity and distrust in elites are understandable, Trump's policies fail to address the root causes of these problems. Instead of fostering genuine economic security, they scapegoat foreign nations and promote a zero-sum mentality that pits workers against each other.

The real challenge facing the United States is not a simple balance-of-payments crisis, but a long-term erosion of industrial and technological power fueled by corporate decisions to prioritize short-term profits over long-term investment in American jobs and communities. The decline in manufacturing has disproportionately impacted communities of color and rural areas, exacerbating existing inequalities.

The situation in countries like Sri Lanka, forced to accept harsh austerity measures from the IMF due to dollar-denominated debt, serves as a stark warning. While the U.S. enjoys the privilege of issuing its own currency, this does not insulate it from the consequences of economic decline. A continued surrender of advanced manufacturing and crucial tech supply chains will lead to slower productivity, weaker global leverage, and domestic decay, further marginalizing working families.

The historical example of Britain's decline underscores the need for proactive, forward-thinking economic policies. Britain's failure to adapt to a changing global landscape led to a loss of industrial leadership and a decline in its global power. The U.S. must learn from this history and invest in education, infrastructure, and sustainable industries to ensure a more equitable and prosperous future for all.

We need to move beyond outdated notions of trade wars and embrace policies that promote international cooperation, fair labor standards, and environmental sustainability. This requires a fundamental shift in priorities, from protecting corporate profits to investing in the well-being of working families and building a more just and equitable economy.