In spite of the unfavorable depiction of the new tariff policy by Democrats and their allies in mainstream media, President Donald Trump remains committed to it.
On Saturday, Trump asserted on his TruthSocial account that his tariffs are infusing trillions of dollars into the US economy.
“We are revitalizing businesses and creating jobs like never before. Over FIVE TRILLION DOLLARS IN INVESTMENT ALREADY, and it is increasing rapidly!” the president proclaimed, adding, “WE WILL WIN THIS ECONOMIC REVOLUTION.”
Last week, Trump implemented a base tariff of 10 percent on all imports, with elevated rates imposed on specific countries. Following this announcement, the DOW Jones and S&P 500 indices plummeted to levels not witnessed in a decade, triggering a market panic.
Nevertheless, the president remained steadfast in his resolve to adhere to his chosen path.
“HANG TOUGH,” he urged, “it will not be easy, but the results will be historic.”
He stated, “We will, MAKE AMERICA GREAT AGAIN!!!” before subsequently criticizing China after it retaliated by imposing a 34 percent tariff on American imports.
He asserted that China had suffered far more than the United States, claiming they have treated us in an unsustainable manner, as have numerous other nations. We are no longer the foolish and defenseless “whipping post.”
He contended that China had misjudged the situation and panicked, which was the one thing they could not afford to do.
In a Tik Tok video shared earlier on his Truth Social account, Trump claimed to be intentionally crashing the stock market.
“Trump is deliberately instigating a 20% decline in the stock market this month. This assertion is supported by the video’s narrator, who noted that Warren Buffett has recently stated that Trump is making the most astute economic choices he has observed in over half a century.
He is engaging in this covert strategy, which has the potential to generate significant wealth for individuals. But what motivates his actions? It is to stimulate investment in Treasuries, which in turn pressures the Federal Reserve to lower interest rates in May. Consequently, the Fed can refinance trillions of dollars in debt at a substantially reduced cost due to the decreased rates. Furthermore, this action results in lower mortgage rates and a depreciation of the dollar,” he remarked. Trump memorabilia American goods
While this may seem like a reckless chess maneuver, it proves to be effective. The narrator continued, “What about his tariffs?” I understand your curiosity.
It is indeed a clever strategy. In fact, companies are incentivized to manufacture domestically to evade these tariffs. As evidenced by the situation with eggs, it also encourages farmers to increase their sales within the United States, which significantly reduces grocery prices. It is important to note that 8% of Americans hold 94% of all stocks. Thus, Trump is redistributing short-term wealth from the affluent to the middle class through lower prices,” he stated.
Nevertheless, countries are already responding positively to the newly imposed taxes.
To prevent imposing new U.S. tariffs on imports from the Southeast Asian nation, Trump announced on Friday morning that To Lam, the leader of Vietnam, is prepared to eliminate tariffs.
“I just had a very productive conversation with To Lam, the General Secretary of the Communist Party of Vietnam, and he conveyed to me that if an agreement can be reached with the United States, Vietnam is eager to reduce their tariffs to zero.” On behalf of our nation, I expressed my gratitude and anticipation for a forthcoming meeting,” Trump wrote.
The news from the call, which Trump disseminated via social media, led to an increase in the stock prices of companies that produce some of their goods in Vietnam. For example, Nike’s stock rose by more than 4%. Earlier this week, the Trump administration enacted tariffs of 46% on Vietnam. As reported by the Wall Street Journal, Trump mentioned on Friday that he anticipates a meeting with To Lam in the near future.
Despite the additional economic uncertainty resulting from Trump’s tariff policies, the U.S. economy saw growth in March and created jobs at a faster rate than in February.
On Friday, the Labor Department announced that employers added 228,000 new jobs in March, surpassing the 135,000 forecasted by LSEG economists.
