Investors lost more than 6 trillion. dollars as the shares sank due to the sweeping new tariff plan – however the Trump government is not worried
If there was a fixed message from officials from the Trump government’s financial staff on Sunday, it was one, observes Axios: We are not worried about the dive of the stock market, and the cavalry does not come to save you from duties.
Investors lost more than $ 6 trillion On Thursday and Friday as the shares sank due to President Trump’s sweeping new tariff plan.
Great investors, such as billionaire Hedge funds manager Bill Akman, are afraid that the situation in the markets can be terrible On Monday, if Trump does not do anything in advance to relax the trade contributions.
However, Trump’s economic team made it clear that No one should count on any last -minute relief From the reciprocal duties to be imposed on Wednesday.
“Duties are coming. He announced it (Trump) and did not make fun of. Duties come, of course and come “ The CBC Minister of Commerce Howard Lutnik said to the CBC.
At the same wavelength was Finance Minister Scott Bessed in the NBC, when asked if Trump was open to tariff negotiations. “No. No, no, no. I think we need to see the course from here on. Why, you know, after 20, 30, 40, 50 years of bad behavior, you can’t just do as if nothing happened “ Bessed categorically said, leaving the US partners.
The US government’s “common echo” on Sunday – by Lutnik, Bessed, National Economic Council chief Kevin Hasset and Supreme Commercial Councilor Peter Navaro – was that the Americans next door were less concerned about the media.
“Americans who want to retire at this time, Americans who have been on the edge for years on their savings accounts – I think they are not considering the daily fluctuations of what is happening.” Bessed supported.
Hasset, for his part, denied that market fall was part of a larger plan for falling shares.
“It’s not a strategy for the markets to collapse. It is a strategy for creating of a golden age for the American worker ” insisted on ABC.
The Minister of Agriculture Brooke Rollins greeted the duties imposed by Donald Trump, characterizing them as ‘New US Economic Plan’and downgrading the uncertainty and extreme instability of markets caused by the president’s commercial policy.
But the US minister avoided clarifying If duties came to stay, or if there is room for negotiations with these countries. ‘We are two business days of this’‘New American Class”. So I think we have a lot to look at ‘, he said.
The conclusion: Economists are widely believed that duties, if not lifted, will cause inflation and decline in growth, and will eventually lead to a global recession, and not just to recession in the US.
But Lutnik ignores these impacts, and considers duties as the only way to restore American production as a matter of national security.
“No postponement” The Minister of Commerce clarifies. ”The president Must make a reset (factory reset) to global trade. “
Source: Skai
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