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Washington DC [US], April 7 (ANI): US President Donald Trump made sharp remarks towards China as the US has implemented retaliatory tariffs with a goal of bridging the trade deficits with several countries. This has also impacted the stock markets.
Making the remarks on board US Air Force One, Trump said, “We have a tremendous deficit problem with China.”
He noted that because of the tariffs implemented by the US, “China is right now taking a big hit, because everyone knows we’re (the US) right… we’re talking about a trillion dollars. You know that, right? We’re not going to lose a trillion dollars for the privilege of buying pencils from China.”
Speaking about how the tariffs would affect the stock market, Trump added, “With the tariffs that I’ve already instituted, what’s going to happen with the market… I can tell you, our country has gotten a lot stronger, and eventually. It’ll be a country like no other. It’ll be the most dominant country economically in the world.”
On being asked about the bloodbath in the stock market, Trump added, “I don’t want anything to go down, but sometimes you have to take medicine to fix something.”
He criticised former US President Joe Biden and accused him saying, “We have been treated so badly by other countries because we had stupid leadership that allowed this to happen. They took our businesses, they took our money, they took our jobs, they moved it to Mexico, to Canada, they moved a lot of it to China, and it’s not sustainable. We’re not going to do it now. We have hundreds of millions of dollars is pouring into our country on a monthly basis. It’s pouring it’s already started, because they put tariffs on and eventually it’s going to straighten out, and our country will be solid and strong again,” Trump said in his remarks.
Asian stock markets witnessed a major sell-off on Monday after US President Donald Trump announced a new round of tariffs. The markets opened with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth. (ANI)
“Don’t be weak, don’t be stupid, don’t be a PANICAN…”: Trump to people minutes before US markets opened
With stock markets globally taking a plunge due to his tariff decisions and the US stocks also feeling the impact, US President Donald Trump on Monday urged people not to be “weak, stupid” and said they should be “courageous and patient” and the result “will be greatness”.
Trump made the remarks on his social media platform Truth Social, minutes before US stock markets opened.
“The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!” he said.
“Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other ‘things.’ It all has to change, but especially with CHINA!!!” he said in another post.
In keeping with the turmoil in global markets following President Donald Trump’s tariff decisions, the US markets also witnessed a bloodbath as it opened on Monday morning.
Trump’s reciprocal tariffs have led to a broad-based fall in financial markets globally with indices plunging in Asia as well as Europe. The reciprocal tariffs have set off a sell-off in equities globally, and the US itself is no exception. Investors fear that the moves concerning global trade may raise inflation, risking economic growth.
US benchmark indices – Nasdaq, S&P, and Dow Jones, slumped in a range of 4-5 per cent soon after the opening bell.
In an earlier post, Trump said the United States is bringing in billions of dollars a week from “the abusing countries on tariffs that are already in place.”
“Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place,” he said.
“This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate. They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past ‘leaders’ are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!” he added.
Asian stock markets witnessed a major sell-off and European markets also witnessed a plunge due to Trump’s decisions concerning tariffs.
Asian stock markets opened on Monday with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth. Japan’s Nikkei 225 index dropped sharply by 5.79 per cent, leading the decline across the region. (ANI)
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