US President Donald Trump on Friday issued a stark Trump tariff warning, claiming that any court ruling against his trade policies could trigger a “1929-style Great Depression.” He asserted that his tariffs were fueling record stock market gains and bringing “hundreds of billions of dollars” into the country’s coffers.
In a lengthy online post, Trump argued that tariffs had a “huge positive impact” on the economy, with “new records set almost every day.” He cautioned that if a “Radical Left Court” struck down his measures, it would be “impossible to ever recover” and would erase America’s “wealth, strength, and power.” Trump insisted the courts should have ruled earlier if they intended to intervene, warning that a negative verdict now would cost the US its “chance at greatness.”
Trump Tariff Warning Comes as New Trade Rates Hit India and Others
The latest tariffs, which took effect Thursday, impact imports from over 60 countries and the European Union. India now faces an additional 25% duty on certain goods due to its purchases of Russian oil, bringing the total tariff rate to 50%. Exporters warn this could hit 55% of India’s outbound shipments to the US and strain long-standing trade ties.
SC Ralhan, president of the Federation of Indian Export Organizations, told the Associated Press that absorbing the sudden cost hike was “not viable” due to already thin profit margins.
Imports from the EU, Japan, and South Korea now face 15% tariffs, while goods from Taiwan, Vietnam, and Bangladesh are taxed at 20%. The US also imposed 100% tariffs on computer chips and increased duties on pharmaceuticals.
Economists Caution Over Long-Term Impact of Trump Tariff Warning
While Trump predicts “unprecedented” economic growth from his policies, economists point to slowing hiring, rising inflation, and declining home prices since the initial rollout in April. Germany’s industrial output fell 1.9% in June, and Switzerland failed to avoid a 39% tariff on its exports.
Global markets have so far stayed resilient — the S&P 500 has risen over 25% since April — but analysts warn that the negative effects of the tariff hikes may take time to materialize.
Get Latest News Live on MTIMES along with Breaking News and Top Headlines, Political News and around The World.
You May Like
Trending Searches Today |
NEET PG 2025 Exam Analysis: Difficulty Level, Paper Review & Good Attempts
“India Struck Pakistan Hard and Smart”: Tharoor Praises Operation Sindoor in the US
India-US Joint Mission NISAR Launched Successfully by ISRO’s GSLV-F16
Trump Signs Executive Order Imposing New Tariffs on 68 Countries, Including India Allies
Asia Cup 2025: India to Clash with Pakistan on September 14 in UAE
AI for India 2.0 Empowers Rural Youth
- APS-C size, 24.2-megapixel ExmorTM CMOS sensor
- 4K movie recording in high-bit-rate XAVC S format
- Unparalleled Autofocus performance for breathtaking shots
- Class leading image quality, ISO range, image processing and metering equivalent to the award-winning D500
- Large 3.2″ 922K dot, tilting LCD screen with touch functionality
- 51-point AF system with 15 cross-type sensors and group-area AF paired with up to 8 fps continuous shooting capability
- High Image Quality 24.2 megapixels APS-C sized CMOS sensor.; DIGIC X Image Processor with a native ISO range of 100-3200…
- Dual Pixel CMOS AF II covering approximately 100% width and height(2) with up to 651 zones down to EV -4.
- High speed shooting 15fps mechanical(3,4), 23fps electronic shutter(4,5) and RAW Burst Mode with ½ second preshooting