Justifying his sweeping tariffs, President Donald Trump asserted it as a catalyst for record-breaking stock market gains and a surge in government revenue. He also warned of catastrophic consequences if courts overturn his policy.
“Tariffs are having a huge positive impact on the Stock Market. Almost every day, new records are set,” Trump wrote in a post on Truth Social. He claimed “hundreds of billions of dollars” were flowing into US coffers and warned that if a “Radical Left Court” struck down the measures, “it would be 1929 all over again, a GREAT DEPRESSION!”
In his message, Trump argued that the tariffs were essential to preserving America’s “wealth, strength, and power,” and that opponents should have challenged them at the outset, not after they had begun delivering economic gains. “Our Country deserves SUCCESS AND GREATNESS, NOT TURMOIL, FAILURE, AND DISGRACE. GOD BLESS AMERICA!” he declared.
Last week, Trump had announced 25 per cent reciprocal tariffs on India that came into effect from August 7. The US president also signed an executive order slapping an additional 25 per cent levy on India for New Delhi’s purchases of Russian oil, bringing the total duties to 50 per cent, among the highest imposed by the US on any country in the world. The additional 25 per cent duty will come into effect after 21 days or August 27.
“There’s no one in history that has gone through the trials, tribulations and uncertainties such as I,” Trump wrote, casting himself as uniquely prepared to guide the country through the tariff fight. “Amazingly beautiful things can happen.”
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