Trump warns of '1929-style Depression' if court rules against his tariffs

US President Donald Trump on Friday claimed his tariff policies are driving record gains in the stock market and bringing “hundreds of billions of dollars” into the country’s coffers, warning that a court ruling against him could plunge America into a “1929-style Great Depression.”

In a lengthy post, Trump said tariffs were having a “huge positive impact” on the economy, with “new records set almost every day.” He cautioned that if a “Radical Left Court” ruled against his administration at this stage, it would be “impossible to ever recover” from the resulting economic damage.

“It would be 1929 all over again, a GREAT DEPRESSION!” Trump wrote, adding that such a decision would wipe out the “wealth, strength, and power of America” and undo the gains made under his leadership.

Trump insisted that the courts



should have ruled earlier in the case if they intended to block his policies, arguing that the US now stood to lose its “chance at greatness” if the decision went against him. “Our country deserves success and greatness, not turmoil, failure, and disgrace. God bless America!” he said.

Trump’s new tariffs on US imports from dozens of countries went into effect on Thursday.

India will now face an additional 25% duty on certain imports over its purchases of Russian oil, taking the total tariff rate to 50%. Exporters say the move will impact nearly 55% of outbound shipments to the US and threaten long-standing trade relationships.

“Absorbing this sudden cost escalation is simply not viable. Margins are already thin,” SC Ralhan, president of the Federation of Indian Export Organizations, was quoted as saying by the Associated Press.