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.

Defending his tariff orders, Trump posted: "If a Radical Left Court ruled against us at this late date, in an attempt to bring down or disturb the largest amount of money, wealth creation and influence the U.S.A. has ever seen, 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!" if the court ruled against "wealth, strength, and power of America", adding that America might never have a chance at "this kind of GREATNESS again".

"Our Country deserves SUCCESS AND GREATNESS, NOT TURMOIL, FAILURE, AND DISGRACE. GOD BLESS AMERICA!" Trump wrote.

Trump imposed massive tariffs on several US trading partners in April, as well as in February against China, Canada and Mexico.

If Trump loses the case, it would undermine the latest round of tariffs he imposed on countries that he unveiled on Thursday, although the losing party is expected to appeal to the Supreme Court.

In the recent action, Trump imposed a total of 50 percent tariff on all imports from India, slamming the South Asian country for buying oil from Russia.