President Donald Trump insisted Friday that “MY POLICIES WILL NEVER CHANGE,” doubling down on his aggressive tariff insurance policies amid plummeting U.S. inventory markets.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” Trump wrote in a publish on Fact Social. “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!”
Trump on Wednesday meted out tariffs on U.S. international buying and selling companions, sending a shock wave by way of monetary markets and drawing the nation into an enormous commerce struggle with affected international locations pledging retaliatory measures. Already on Friday, China said it would hit U.S. imports with a 34 p.c tariff beginning April 10. Different main economies, just like the European Union, are more likely to comply with.
The president was fast to chastise Beijing for its retaliatory measures, writing on Fact Social that “CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!”
Trump has painted his tariffs as a forceful effort to reset American commerce relationships that he says have resulted within the U.S. being “looted, pillaged, raped and plundered by nations close to and much, each buddy and foe alike.” Although tariffs imposed by the U.S. within the distant previous have had disastrous outcomes for the American economic system, the president has insisted that his widespread import taxes will entice firms to deliver manufacturing jobs again to American shores.
The White Home dubbed Wednesday, the day the tariffs have been imposed, “Liberation Day” and hosted a celebratory Rose Backyard occasion the place the president laid out his insurance policies. However Trump’s guarantees did little to quell issues on Wall Avenue, the place markets plummeted within the quick aftermath of the announcement. On Thursday alone, the Dow Jones Industrial Common dropped 1,700 factors, and U.S. shares total suffered their worst day since March of 2020, the opening days of the Covid-19 pandemic.
The information was not all dangerous for the White Home on Friday, with Trump shortly claiming credit score for a better than expected March jobs report — although these numbers mirror an economic system untouched by Trump’s sweeping tariff plan. The U.S. added 228,000 new jobs, exceeding expectations and providing the president a chance to assuage issues about financial chaos. The “nice job numbers,” he stated, have been proof that his financial insurance policies have been “already working.”
“Cling powerful, we will’t lose!!!” the president stated.
