Trump Warns of New 'Great Depression' in the US Over Tariffs

Former President Donald Trump has warned of a potential economic collapse in the US, similar to 1929, if courts overturn the emergency powers he used to impose tariffs.

In a post on Truth Social, Trump stated that an unfavorable court ruling could lead to a 'GREAT DEPRESSION,' making it impossible to recover or repay vast sums of money.

The US Court of International Trade ruled that Trump exceeded his legal authority by imposing sweeping tariffs on foreign goods. The Trump administration appealed, but the United States Court of Appeals expressed skepticism about the legality of the tariffs.

Trump argued that the tariffs have a positive impact on the stock market and bring billions of dollars into the country's coffers. He believes that a decision against the emergency powers would be a 'judicial tragedy'.