President Trump has defended him vigorously A drastic tariff What he dubbed was revealed by his administration “Liberation Day” Even if they threatened to cause a global trade war last week, Stock market You will fall all over the world.
In the US, many people are worried about taxation driving the prices of daily items, and Goldman Sachs Economist on Monday quoted them in a report Increase the chances of a recession Up to 45%. JP Morgan CEO Jamie Dimon warned that tariffs could slow the economy, “It could increase inflation.”
On April 2nd, Trump announced additional “mutual” tariffs from 90 countries, in addition to a baseline 10% tax on all US imports. He pitched tariffs as a strategy to reduce the trade deficit between the US and China and other global authority, including the European Union.
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In addition to the baseline tax, Trump said China faces a 34% “mutual” collection. Beijing retaliation tariffs The president threatened to impose additional charges on US exports China’s 50% tariff If these obligations are not lifted by Tuesday.
As the market drops, and with him Mutual import duties Here’s what Trump said about tariffs, which is due to come into effect Wednesday:
Trump flip-flop suspends tariffs
Two days after Trump said during a Meeting with the Israeli Prime Minister Benjamin Netanyahu has not seen a suspension of tariffs, he announced a 90-day suspension for most of him New tariffs Also, with the exception of China, the “mutual tariff” rate will be reduced to 10%.
US The stock market has skyrocketed Immediately after the president’s announcement.
When reporters asked about a mixed message from his administration about whether tariffs are permanent or open to negotiations, the president said Monday that “they could be true.”
“There are a lot of countries that are coming to negotiate a deal with us, and they’re going to be fair,” Trump said. “No other presidents are going to do this, what I do.”
On Wednesday afternoon, citing that China doesn’t want to negotiate, Trump announced that he is actually raising China’s taxes to 125%, socially. China announced it on Wednesday Increases tariffs on US products to 84%.
The president previously said there are “non-tariffs” that could be opened up to negotiations, similar to the “standards and tests” that Trump said makes deals more difficult, but he did not provide further details.
“Hang Tough”
Trump urged Americans on Saturday’s Truth Social Post as his 10% universal tariffs were enacted “Hang Tough” And he admitted that it was “not easy.”
“China has been hit much harder than the US, not even close. They and many other countries have treated us badly unsustainably,” he writes.
“We were stupid and helpless ‘whipposts’, but no longer. We are bringing back jobs and businesses more than ever before. Already, it’s an investment of over $5 trillion and is rising rapidly. This is an economic revolution.
“Sometimes you have to take medication.”
While speaking with reporters in Air Force 1 on Sunday, Trump doubled his trade position, revealing that he has no intention of moving mutual tariffs that are expected to take effect later this week, and that a universal taxation has already not been implemented.
addressing The US market is falling sharply It was his April 2nd announcement, the worst on Wall Street in five years – and appears to be preparing Americans for more market pain, the president said, “I don’t want anything to fall, but I have to take medicines to fix something.”
“I can’t tell you what will happen in the market, but I can say that our country has become stronger,” Trump added.
He also said that various world leaders had expressed interest in negotiating a rollback of tariffs, as global markets began to rush in response to taxation.
“I’ve spoken to a lot of European and Asian leaders from all over the world,” Trump said. “They want to do business and they said we’re not going to have a deficit with your country. I’m not going to do that because for me, deficits are a loss.
Reflecting Trump’s sentiment, Commerce Secretary Howard Lutnick suggested that the administration would not shake up new tariffs. “Faced with Margaret Brennan and the People” on sunday. When insisting that claims that policy would protect U.S. factories and “reset the power of the United States,” Rutnick admitted that “it would be a huge change.”
“This is a moment when the United States holds its grip on itself, and Donald Trump has been talking about his life,” Lutnick said. “This is Donald Trump’s agenda and we’re here to help him do it.”
“Don’t be a panican (a new party based on weak and stupid people!”)
In the time before he began trading on Wall Street on Monday, the president appeared to be working on the true society to support his tariff gusts and creating a new Trumpism that references panic.
“The US has the opportunity to do what should have been done decades ago,” Trump said in the post. “Don’t be weak! Don’t be stupid! Don’t be panicans (a new party based on weak and stupid people!). Strong, courageous, patient, and greatness will result!”
He experienced significant losses as international markets experienced significant losses and indicators for Australia, Germany, Hong Kong, Shanghai, South Korea, Taiwan and Tokyo all declined. The US market continued Roller Coaster Daythe S&P 500 finished a modest 12 points (0.2%) with 5,062, losing 349 points (0.9%).
Additional tariffs in China
Trump vowed on Monday Increases the obligations imposed on China From 50% from Wednesday after Beijing issued a 34% retaliation fee in the US over the weekend.
Truly socially, the president said Beijing had acted despite his previous “warning” that the US would only respond to retaliatory tariffs with higher taxes on issuing countries, urging its leader to either withdraw the 34% increase by Tuesday or face higher costs.
“And further, all consultations with China regarding the requested meeting with us are over!” Trump said. “Negotiations with other countries requesting meetings will begin to take place soon. Thank you for paying attention to this issue!”
