President Donald Trump lashed out Friday at what he called a “radical left court,” voicing fears that his sweeping tariffs could be overturned as federal judges continue to litigate his authority on the matter.
“If 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, or pay back, these massive sums of money and honor,” Trump wrote in an online post. “It would be 1929 all over again, a great depression!”
Trump’s new wave of tariffs went into effect on Thursday, unleashing turmoil in some markets and backlash from some countries. Whether Trump had the authority to impose the tariffs, however, remains an open question.
Trump has argued he holds the authority to impose sweeping tariffs under the International Emergency Economic Powers Act, which expands the president’s authority to impose sanctions and trade agreements in situations where there exists an “unusual and extraordinary threat.” The United States’ long-running trade deficits with some countries is that “unusual and extraordinary threat,” Trump has claimed.
But in the Federal Circuit U.S. Court of Appeals, Trump’s argument has received a “frosty reception,” with legal experts calling Trump’s position a losing one.
Apparently in an effort to get ahead of a ruling that may roll back his tariffs, Trump upped the ante in spelling out what he argued would be a catastrophic decision that would put the United States in “1929-style jeopardy.”
“There is no way America could recover from such a judicial tragedy, but I know our court system better than anyone, there is no one in history that has gone through the trials, tribulations and uncertainties such as I, and absolutely terrible, but also amazingly beautiful, things can happen,” he wrote.
“Our Country deserves success and greatness, not turmoil, failure, and disgrace. God bless America!”