Donald Trump Us Tariffs: Donald Trump warned the court that if the tariffs are removed, Great Depression like 1929 will come. Applicable from 50% US Import Duty Aug 27 on India, reason Russian Crude Oil Import.
Donald Trump Us Tarifs: US President Donald Trump warned on Friday that the US may face economic devastation like 1929 Great Depression if the court justified the tariffs. The case is going on in the US Court of the Appeals for the Federal Circuit in which many businesses and the states have challenged Trump Tariff Policy.
Tariffs are game Changes for stock markets. Nearly new records are being made almost daily, Billions of Dollers are coming to the treasures of our country. He said that tariffs will promote domestic manufacturing and can replace income tax. Trump warned that if the ‘Radical Left Court’ overturned, it would eliminate the wealth, strength and power of America and would be the havoc such as the 1929 Great Depression. Trump wrote on Truth Social
Also read: PM Modi’s telephone talks with President Putin, China will welcome Modi at Shanghai Summit
50% import duty shock on India
Trump announced to impose 50% tariff on India imports on Wednesday, it is the Highest Tariff so far that Washington has put on a trading partner. The US claimed that India was being imposed tariffs due to Russian crude oil imports. Earlier 25% Tariff was applicable, which has now been doubled to 50%. The US tariff on India will be effective from 27 August 2025.
Also read: If India stops taking Russian oil under pressure from American tariff, the economy will be double pressure, big disclosure in SBI report
Increased tension in global trade, tariff in danger after losing case
In April, the US installed tariffs on several countries including China, Canada, Mexico. After this, the list of new Tarifs came in February. With this move of America, tension in global trade is seen increasing. The economy of many countries is being affected by this. A case has been filed against the tariff against the American trading partner. Indeed, the US President gets the Power International Emergency Economic Powers Act (IEEPA). It empowers the President in the time of Unusual and Extraordinary Threats. Trump has imposed tariffs using these rights. But if the case trump loses, the new tariff plan may also be in danger.