How Trump is sitting on annihilating, threatening to Supreme Court, such a thing has happened on tariff

Trump wrote on the social media platform ‘Truth Social’, “If a radical left court gave a decision against us so long, it will be a ‘Great Depression’ like 1929!” His statement has come at a time when his new tariff rules have been implemented since Thursday. The US duty has now been increased manifold on imports coming from dozens of countries. Its impact is going to be directly on global trade and America’s domestic market.

Significantly, under the new tariff, 25% additional duty has been imposed on some special imports from India. Due to this, the total fee rate has increased to 50%. Indian exporting organizations say that this decision will affect about 55% of exports going to America and old business relations can be broken. The goods coming from the European Union, Japan and South Korea have been charged a 15% fee, while the products coming from Taiwan, Vietnam and Bangladesh will be taxed at 20%.

Danger bell on American economy
Trump claims that the US is earning ‘hundreds of billion dollars’ from these tariffs and will be ‘unaware of development’. But the warnings of economists say something else. Jobs in America have been decreasing since the first phase of these tariffs in April. Also, inflation is increasing and the prices of houses are falling. Germany’s industrial production fell 1.9% in June, while Switzerland failed to postpone 39% tax on its exports.