President Donald Trump on Thursday hailed his aggressive tariff policy as the force driving record-breaking stock market gains and a flood of new revenue into federal coffers. Speaking through a fiery Truth Social post, Trump said, “Tariffs are having a huge positive impact on the Stock Market. Almost every day, new records are set.”
Trump claimed “hundreds of billions of dollars” were flowing into U.S. government accounts thanks to the duties. He also warned that if a “Radical Left Court” overturned his policy, America could face “1929 all over again—a GREAT DEPRESSION!”
Massive Tariff Wave Hits Global Trade Partners
Hours before his post, Trump’s latest round of tariffs took effect—hitting goods from more than 60 countries and the European Union with duties of at least 10%. Products from the EU, Japan, and South Korea now carry 15% tariffs, while imports from Taiwan, Vietnam, and Bangladesh face 20%.
Earlier this week, Trump went further against India, imposing a 25% surcharge on top of existing duties, bringing the total tariff rate on Indian goods to a staggering 50%. The White House linked the move to India’s continued purchase of Russian oil. Swiss exports, including high-value pharmaceuticals and computer chips, also landed in Trump’s crosshairs with steep new levies.
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Trump Frames Tariffs as a Battle for U.S. Power
In his message, Trump defended the tariffs as essential to preserving what he called America’s “wealth, strength, and power.” He blasted opponents for waiting until now to challenge the policy instead of during its rollout.
“Our Country deserves SUCCESS AND GREATNESS, NOT TURMOIL, FAILURE, AND DISGRACE. GOD BLESS AMERICA!” Trump declared, doubling down on his America-first message.
The president’s camp points to strong market performance as proof of success. The S&P 500 has climbed more than 25% since April. Trump also touted his recent tax cuts, saying they will fuel “unprecedented” economic growth alongside the tariff measures.
Critics Warn of Economic Fallout
Economists and trade analysts remain deeply divided. While Trump’s supporters cite higher government revenue and stock market gains, critics warn of cracks forming beneath the surface.
Analysts point to rising consumer prices, slower hiring in key industries, and growing tension with major trade partners. They warn that sustained trade conflicts could trigger supply chain disruptions and a slowdown in U.S. exports. Some fear that if foreign governments retaliate with tariffs of their own, the short-term boom could quickly unravel.
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Trump Positions Himself as the Man for the Job
In a personal flourish, Trump cast himself as uniquely equipped to weather the trade fight. “There’s no one in history that has gone through the trials, tribulations and uncertainties such as I,” he wrote. “Amazingly beautiful things can happen.”
The president framed the moment as a test of national resolve, urging Americans to back his trade war. For Trump, the gamble is clear: double down on tariffs to protect U.S. dominance or risk the collapse he warns will come if courts tear his policy apart.
