President Donald Trump on Friday warned U.S. courts against blocking his tariff policy, citing its “positive impact” on the stock market and saying such a move could cause a severe economic downturn.
“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,” Trump wrote on his Truth Social platform Friday morning.
“It would be 1929 all over again, a GREAT DEPRESSION,” he added.
Trump’s comments come as a federal appeals court is hearing arguments on how to handle his tariff policy. Former House Speaker Paul Ryan told CNBC this week that the Supreme Court could end up disqualifying the duties that have been ordered under the International Emergency Economic Powers Act enacted by Congress in 1977.
“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,” Trump said of the courts’ potential actions around tariffs. “There is no way America could recover from such a judicial tragedy.”
