- Trump calls tariffs case before US Supreme Court next month 'the most important case' it has ever heard

ISTANBUL

US President Donald Trump said Friday that US stock markets are "stronger than ever" thanks to the tariffs he has imposed since returning to the White House earlier this year.

"THE STOCK MARKET IS STRONGER THAN EVER BEFORE BECAUSE OF TARIFFS!" Trump wrote on his Truth Social platform.

The New York Stock Exchange has had a rough, up-and-down ride in the six months since the announcement of Trump's tariffs in April.

Despite some setbacks, the three main indexes gained in the six-month period, also hitting record high levels. The Dow Jones increased more than 17%, the Nasdaq composite surged 34%, and the S&P 500 climbed 23%.

In a separate post, the president emphasized that the country "IS WEALTHY, POWERFUL, AND NATIONALLY SECURE AGAIN, ALL BECAUSE OF TARIFFS!"

Many economists argued that the tariffs are harmful, unproductive, and have pushed up prices, hurting the US consumer as well as businesses.

US Supreme Court to hear tariffs case

Trump also touched on the tariffs case before the US Supreme Court, calling it "THE MOST IMPORTANT CASE EVER” to reach the court.

The Supreme Court has set Nov. 5 to hear arguments on whether Trump lawfully used emergency powers to impose sweeping worldwide tariffs.

In August, a federal appeals court ruled 7-4 that Trump exceeded his authority under the International Emergency Economic Powers Act, a 1977 law allowing economic sanctions against “unusual and extraordinary” threats.

Several lower court rulings, including one on Aug. 29 from the US Court of Appeals for the Federal Circuit, concluded that Trump illegally overstepped Congress’ authority to slap steep duties on imports from many countries.