Former U.S. President Donald Trump on Friday issued a dire warning that any court ruling against his controversial tariff policy could lead to an economic collapse similar to the Great Depression of 1929. In a strongly worded post on Truth Social, Trump cautioned that such a decision by what he called a “Radical Left Court” would devastate the nation’s economic progress, wealth, and global influence.

“If a Radical Left Court ruled against us at this late date… it would be impossible to ever recover, or pay back, these massive sums of money and honor. It would be 1929 all over again, a GREAT DEPRESSION!” Trump wrote.

He emphasized that any such ruling should have been made much earlier and suggested that overturning the tariff policy now would be catastrophic. Despite this, he expressed confidence that the judicial system would ultimately side with him.

“There is no way America could recover from such a judicial tragedy, but I know our Court System better than anyone,” he asserted, claiming his unique experience with legal challenges has equipped him with unmatched insight into its workings.

Trump’s new tariffs took effect on Thursday, prompting mixed reactions in the financial markets. The Dow Jones Industrial Average fell by 224 points (0.5%) and the S&P 500 dipped by 0.1%, while the Nasdaq showed some resilience, ending the day up 0.4%. However, markets bounced back on Friday, with the Dow gaining 0.6% and the S&P 500 up 0.8%.

The U.S. Court of Appeals for the Federal Circuit is currently reviewing whether Trump’s use of emergency powers under the International Emergency Economic Powers Act (IEEPA) is legally justified for the imposition of such tariffs. The 1977 law permits the president to act economically during an “unusual and extraordinary threat,” though it makes no specific mention of tariffs.

Former House Speaker Paul Ryan predicted this week that the Supreme Court could potentially strike down the use of IEEPA in this context, warning that Trump might then be forced to turn to alternative and more complex legislative tools like Sections 232, 201, or 301 for justification.

As legal challenges intensify and economic stakes grow, the battle over Trump’s sweeping tariff policy continues to stir national debate.