US President Donald Trump in a post on Truth Social issued a stark warning that the United States could face an economic collapse akin to the 1929 Great Depression if a federal court were to strike down his tariff policies.<\/p>\n
In his post on Friday, Trump claimed that tariffs have delivered “a huge positive impact” on the US stock market. In addition, he said that the markets hit new record highs almost daily. He added that \u201chundreds of billions of dollars\u201d are flowing into the country\u2019s coffers due to the tariffs.<\/p>\n
\u201cIf 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 USA has ever seen, it would be impossible to ever recover,\u201d Trump warned. \u201cIt would be 1929 all over again \u2014 a GREAT DEPRESSION (sic),\u201d he said.<\/p>\n
During the Great Depression, industrial production plunged by nearly 50%, stock market crashed wiping out billions, and banks failed.<\/p>\n
Notably, the Federal Circuit Court of Appeals court heard arguments against Trump’s tariff policy on July 31. The hearing was held for around two hours, with no interim ruling delivered.<\/p>\n","protected":false},"excerpt":{"rendered":"US President Donald Trump in a post on Truth Social issued a stark warning that the United States…\n","protected":false},"author":2,"featured_media":56297,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,1376,46,182],"class_list":{"0":"post-56296","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-donald-trump","12":"tag-economy","13":"tag-us"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/56296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=56296"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/56296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/56297"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=56296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=56296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=56296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}