Washington: US President Donald Trump proclaimed Friday that the US stock markets are experiencing unprecedented strength, attributing this surge to the tariffs he has implemented since his return to the White House earlier this year. "THE STOCK MARKET IS STRONGER THAN EVER BEFORE BECAUSE OF TARIFFS!" Trump announced on his Truth Social platform.

According to Anadolu Agency, the New York Stock Exchange has witnessed a tumultuous journey over the past six months following Trump's tariff announcement in April. Despite facing several challenges, the three major indexes have recorded gains during this period, reaching all-time high levels. The Dow Jones rose by over 17%, the Nasdaq composite saw a 34% increase, and the SaP 500 went up by 23%.

In another message, Trump highlighted that the United States is now "WEALTHY, POWERFUL, AND NATIONALLY SECURE AGAIN, ALL BECAUSE OF TARIFFS!" However, many economists have voiced concerns, arguing that the tariffs are detrimental, counterproductive, and have led to increased prices, adversely affecting both US consumers and businesses.

Furthermore, Trump addressed the ongoing tariffs case set to be heard by the US Supreme Court, labeling it as "THE MOST IMPORTANT CASE EVER" to reach the court. The Supreme Court is scheduled to hear arguments on November 5 regarding the legality of Trump's use of emergency powers to impose extensive global tariffs.

In recent developments, an August ruling by a federal appeals court, with a 7-4 decision, stated that Trump had overstepped his authority under the International Emergency Economic Powers Act, a 1977 statute permitting economic sanctions against 'unusual and extraordinary' threats. Several lower court rulings, including one from the US Court of Appeals for the Federal Circuit on August 29, concluded that Trump had unlawfully exceeded Congress' powers by imposing significant duties on imports from numerous countries.