![\"US](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/08\/Donald_Trump_1754666392874_1754666393086.jpg\" "\\"US")
US President Donald Trump points as he boards Air Force One at RAF Lossiemouth, north-east Scotland.(AFP File) <\/p>\nPresident Donald Trump on Thursday hailed his sweeping tariffs as a catalyst for record-breaking stock market gains and a surge in government revenue, while warning of catastrophic consequences if courts overturn his policy.<\/p>\n
US President Donald Trump points as he boards Air Force One at RAF Lossiemouth, north-east Scotland.(AFP File) <\/p>\n
\u201cTariffs are having a huge positive impact on the Stock Market. Almost every day, new records are set,\u201d Trump wrote in a post on Truth Social. He claimed \u201chundreds of billions of dollars\u201d were flowing into US coffers and warned that if a \u201cRadical Left Court\u201d struck down the measures, \u201cit would be 1929 all over again, a GREAT DEPRESSION!\u201d<\/p>\n<\/p>\n
The post came just hours after tariffs of 10% or more took effect on goods from over 60 countries and the European Union. Products from the EU, Japan, and South Korea now face 15% duties, while imports from Taiwan, Vietnam, and Bangladesh are taxed at 20%.<\/p>\n
Days earlier, Trump<\/a> also announced a 25% surcharge on Indian goods<\/a>, citing its purchases of Russian oil, bringing its total tariff rate to 50 per cent<\/a>, and imposed steep new levies on Swiss exports, pharmaceuticals, and computer chips.<\/p>\n In his message, Trump argued that the tariffs were essential to preserving America\u2019s \u201cwealth, strength, and power,\u201d and that opponents should have challenged them at the outset, not after they had begun delivering economic gains. \u201cOur Country deserves SUCCESS AND GREATNESS, NOT TURMOIL, FAILURE, AND DISGRACE. GOD BLESS AMERICA!\u201d he declared.<\/p>\n Trump\u2019s defence comes amid growing criticism from economists who warn the duties are already slowing hiring, raising prices, and straining US trade relationships. But the president pointed to the S&P 500\u2019s more than 25% rise since April and the recent tax cuts he signed as evidence that the economy is on the verge of \u201cunprecedented\u201d growth.<\/p>\n \u201cThere\u2019s no one in history that has gone through the trials, tribulations and uncertainties such as I,\u201d Trump wrote, casting himself as uniquely prepared to guide the country through the tariff fight. \u201cAmazingly beautiful things can happen.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump on Thursday hailed his sweeping tariffs as a catalyst for record-breaking stock market gains and…\n","protected":false},"author":2,"featured_media":329883,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,5286,1700,118665,118664,479,118666,16,15],"class_list":{"0":"post-329882","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economic-growth","10":"tag-economy","11":"tag-government-revenue","12":"tag-stock-market-gains","13":"tag-tariffs","14":"tag-trumps-defense","15":"tag-uk","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114997431453576325","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/329882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=329882"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/329882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/329883"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=329882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=329882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=329882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}