WEST PALM BEACH, Fla. (AP) — Two days after sending the financial system reeling by announcing widespread tariffs, President Donald Trump insisted his commerce insurance policies won’t ever change as he remained ensconced in a bubble of wealth and energy in Florida.
He awakened on Friday morning at Mar-a-Lago, his personal membership in Palm Seaside, and headed to his close by golf course a number of miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”
A number of supporters stood on the sidewalk as Trump, sporting his signature crimson “Make America Nice Once more” hat and white polo shirt, glided down a road lined with palm bushes. They waved to him and he waved again, part of a ritual that performs out each weekend that he’s on the town.
The Republican president was not anticipated to look publicly, though he’s scheduled to attend a candlelit dinner for MAGA Inc., an allied political group, on Friday night. He spent Thursday in Miami at a distinct considered one of his golf programs, the place he attended a Saudi-funded tournament. He landed in Marine One and was picked up in a golf cart pushed by his son Eric.
Trump has usually proved impervious to the sort of scandals or gaffes that might injury one other politician, however his choice to spend the weekend at his gilded properties may check Individuals’ endurance at a time when their retirement financial savings are evaporating along with the stock market. The tariffs are anticipated to extend costs by 1000’s of {dollars} per 12 months and gradual financial progress, and there are fears about a potential recession.
Democrats known as out Trump for being in a “billionaire bubble,” as Sen. Chuck Schumer put it, whereas hundreds of thousands watched their investments sink.
“Whereas the American persons are attempting to place meals on the desk, I see that Donald Trump’s on the market enjoying golf,” mentioned Sen. Ben Ray Luján, a Democrat from New Mexico. “The president ought to be listening to folks throughout the nation. Possibly he ought to go right into a grocery retailer, do some strolling, speaking to of us.”
Federal Reserve Chair Jerome Powell mentioned Friday that the tariffs have been “considerably bigger than anticipated” and are “highly likely” to trigger extra inflation — at the least within the brief time period however presumably in the long run as nicely.
Nevertheless, Trump has described his insurance policies as a painful but essential step to encourage firms to relocate their operations to america. Treasury Secretary Scott Bessent instructed Tucker Carlson in an interview launched Friday that “I believe now we have to do this, and I’ve a excessive confidence ratio it’s going to work.”
The president spent Friday morning defending himself on Reality Social, his social media platform, and vowing to remain the course.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote.
Though specialists have harshly criticized the tariffs, he’s discovered some assist on TikTok. He shared a video that mentioned “Trump is crashing the inventory market” and “he’s doing it on objective” as a part of a “secret sport he’s enjoying, and it may make you wealthy.”
The video featured a supposed quote from legendary investor Warren Buffett praising Trump, however Buffett’s firm issued an announcement saying it was fabricated. The video additionally mentioned that Trump’s aim is to push the Federal Reserve to decrease rates of interest, one thing that the president explicitly known as for later within the morning.
“This could be a PERFECT time” for Powell to chop rates of interest, he wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
With international leaders scrambling in response to Trump’s announcement this week, the president lashed out and seemed to chop offers.
He mentioned he spoke with Vietnamese chief To Lam and claimed Vietnam needs to remove its tariffs on U.S. items if it could possibly make a take care of the U.S.
He additionally criticized China for asserting its personal tariffs on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!” he wrote.
Republicans recommended that Trump’s insurance policies can be the beginning of a parley with international international locations.
“The president is a dealmaker if nothing else, and he’s going to proceed to deal nation by nation with every of them,” mentioned Sen. John Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had instructed Senate Republicans this week that the tariffs can be a “excessive degree mark with the final word aim of getting them lowered” until different international locations retaliate.
In the meantime, Trump additionally celebrated a brand new report exhibiting the U.S. added 228,000 jobs in March, beating expectations. Though the numbers have been a snapshot of the financial system earlier than the tariff announcement, Trump claimed vindication, saying they already present his strikes are working.
“HANG TOUGH,” he wrote. “WE CAN’T LOSE!!!”
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Megerian and Groves reported from Washington.
