Trump warns of 1929-style crash if courts shut down tariffs

President Donald Trump on Friday warned that the stock market would suffer a 1929-style crash if the courts ruled against his imposition of tariffs and suggested the U.S. would be unable to repay its debts.

The U.S. International Trade Court struck down Trump's tariffs in May, though an appeals court speedily reversed the move and the matter is expected to make it to the Supreme Court. The essence of the challenge is the assertion that Trump's invocation of the 1977 International Emergency Economic Powers Act (IEEPA) to impose the tariffs exceeded his authority.

"Tariffs are having a huge positive impact on the Stock Market. Almost every day, new records are set. In addition, Hundreds of Billions of Dollars are pouring into our Country’s coffers," he warned. "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!"

"If they were going to rule against the wealth, strength, and power of America, they should have done so LONG AGO, at the beginning of the case, where our entire Country, while never having a chance at this kind of GREATNESS again, would not have been put in 1929 style jeopardy," he added. "There is no way America could recover from such a judicial tragedy, 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. Our Country deserves SUCCESS AND GREATNESS, NOT TURMOIL, FAILURE, AND DISGRACE. GOD BLESS AMERICA!"

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.