India, Aug. 9 -- Defending his recent actions, US President Donald Trump on Friday warned of a '1929-style Great Depression' if the court rules against tariffs.

The US Court of Appeals for the Federal Circuit is set to pass judgment on Trump's tariffs in a case that involves businesses and states impacted by tariffs.

"Tariffs are having a huge positive impact on the Stock Market. Almost every day, new records are set. In addition, Hundreds of Billions of Dollars are pouring into our Country's coffers", Trump wrote on Truth Social.

The US president has argued that tariffs will promote domestic manufacturing and will substitute for income taxes.

"It would be 1929 all over again, a GREAT DEPRESSION!" if the court ruled against "wealth, s...