President Donald Trump on Monday said the United States will face an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs against nearly every country.

Trump said his administration planned to issue a $2,000 payment to lower- and middle-income residents using the tariff dividends, while using the remaining proceeds to lower U.S. debt.

Trump also hailed what he called a decline in inflation since he took office, saying food prices and energy prices were coming down.

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(Reporting by Steve Holland and Andrea Shalal; Editing by Chris Reese)