WASHINGTON (TNND) — President Trump issued a stark warning of "economic ruination" if the courts rule against his tariff policy. This statement was made in a post on Truth Social following a week in which a court deemed his tariffs illegal.

Despite setbacks, the Trump administration remains optimistic.

Commerce Secretary Howard Lutnick said, "The president is going to win like he always does, but rest assured, tariffs are not going away. Congress has given this authority to the president, and he’s going to use it."

The U.S. Court of International Trade and others argue that the authority to impose tariffs lies with Congress, rendering the tariffs imposed by Trump on April 2 illegal. Although initially blocked, the tariffs were later reinstated by another court.

President Trump continues to use tariffs as a tool, recently raising tariffs on imported steel from 25 to 50%. He also touted a deal with Japan to sell U.S. steel to Nippon Steel, a deal he once opposed.

Japan very much wants to make a trade deal," Trump said. "I don't think this has much to do with it, but certainly it certainly won't hurt because we have a very good relationship with Japan."

Relations with China remain tense, with Trump accusing China of violating a trade deal and insisting he will "no longer be Mister Nice Guy." China has not lifted its ban on rare earth minerals, which are crucial for global supply chains.

Treasury Secretary Scott Bessent said, "What China is doing is they are holding back products that are essential to the industrial supply chains of India, of Europe and that is not what a reliable partner does."

The White House is also promoting trade as a security tool.

"I think the deal I'm most proud of, that we're dealing with India, we're dealing with Pakistan, and we were able to stop potentially a nuclear war through trade as opposed through bullets," Trump said.

As the legal battles over Trump's tariff policy continue, investors appear unfazed, with May showing the best stock market performance in 30 years.