By Admin 
US President Donald Trump on Friday warned the American courts not to weaken the International Emergency Economy Power Act (IEEPA). Ieepa is often used in the US restriction policy. This law gives the US President the additional power of economic transactions. Using this, Trump has imposed 50 percent tariff on India.
America is getting a lot of economic benefit- Trump
Trump posted on Truth social and claimed that America is benefiting from tariff. He wrote, “Tariff is having a great positive impact on the stock market. Almost every day new records are being made. Apart from this, hundreds of billion dollars are coming to our country’s treasures.”
Trump warns US court
Trump warned the court that if a verdict is given regarding the use of IEEPA, then America’s economy will be destroyed. He said, “If this happens, there will be a gathering like 1929. Then America will not be able to recover from such a judicial tragedy. However, I have confidence in the US judicial system. This decision should have been taken long ago, so that the economic pace of the country would have been better.”
Why Donald Trump is afraid?
Trump has repeatedly resorted to IEEPA to implement trade restrictions citing national security concerns. His remarks have come amid the increasing legal investigation on the limits of the President’s powers under IEEPA. Many legal experts argue that the use of this law in business policy is a cheating from its basic purpose.
The Greatness, which started after the decline in the US stock market in 1929, was one of the most serious economic recession in modern history. Due to this, large -scale banks became bankrupt, people became unemployed, industrial production and global trade declined drastically. This affected the US and the world’s economy for a long time.
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