Trump Warns of Economic Catastrophe if Court Rules Against Tariff Authority

President Donald TRUMP issued a stark warning on Friday, suggesting that a potential U.S. court ruling against his authority to impose global tariffs could trigger an economic collapse akin to the Great Depression of 1929. "If a Radical Left Court ruled against us at this late date, it would be impossible to ever recover," Trump declared in a post on Truth Social. The Treasury Department reported $26.6 billion in customs duties for June, with fiscal year totals reaching $108 billion—a figure that could be jeopardized by pending legal challenges.

Multiple lawsuits contesting Trump's use of the International Emergency Economic Powers Act (IEEPA) are underway, with plaintiffs arguing the president overstepped his authority. Justice Department lawyers and small business importers clashed in court this week, setting the stage for a high-stakes showdown over trade policy and executive power.