The president warns if his tariff policy does not pass the nation may be in «1929 style jeopardy»
President Donald Trump took out his frustration with the “radical left court” Friday, saying if his tariff-heavy trade policy does not pass, the United States will face a “GREAT DEPRESSION.”
“Tariffs are having a huge positive impact on the Stock Market,” he wrote in a post on Truth Social.”If a Radical Left Court ruled against us at this late date, in an attempt to bring down or disturb the largest amount of money, wealth creation and influence the U.S.A. has ever seen, it would be impossible to ever recover, or pay back, these massive sums of money and honor.”
It would be 1929 all over again, a GREAT DEPRESSION!” he added.
The president’s backlash has come as a federal appeals court hears arguments on how to handle his tariff policy. The U.S. Court of International Trade ruled that Trump overstepped his legal authority to impose many of his sweeping tariffs on foreign goods last spring. The ruling is expected to be appealed to the Supreme Court.
Trump warned that ruling against his tariff policy would put the nation in “1929 style jeopardy.”
“There is no way America could recover from such a judicial tragedy,” the president’s statement continued. “But I know our Court System better than anyone, there is no one in history that has gone through the trials, tribulations and uncertainties such as I, and absolutely terrible, but also amazingly beautiful, things can happen.”
The tariff policy review comes at the U.S. economy is under tense scrutiny.
After the head of the Bureau of Labor Statistics gave Trump a weak jobs report, the president swiftly fired her. Thursday Trump presented his updated labor statistics and job growth data from the conservative-leaning Heritage foundation, saying he was pleased with the “corrected” figures. This firing decision has led Wall Street and economists nationwide to be more discerning about the numbers the White House presents.
Trump’s warning of economic insecurity if the tariffs do not pass did not register well with some online, as many cite his tariffs as a high risk for the economy.