President Donald Trump and his Justice Department have issued doomsday warnings recently on what would happen if a federal appeals court rules against the administration in a legal challenge to his so-called reciprocal tariffs. James Lucier at Alpha Capital Partners said the court could issue a ruling later this month or next month.

The Trump administration sees complete disaster for the U.S. economy if its reciprocal tariffs are struck down, revealing its level of concern as a court is expected to issue a critical decision soon.

On July 31, a federal appeals court heard arguments in a case challenging the tariffs’ legal basis under the International Economic Emergency Powers Act (IEEPA), and the judges expressed deep skepticism about the administration’s side.

In a note this past week

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