Donald Trump insists that the trade war that has begun most of the world “was doing very well” despite the growing fears of recession and despite the fact that Beijing has counterattacked by increasing the US exports to China to 125% today.

As the US president argued that his offensive strategy for tariffs is “moving fast”, with a closer look revealing that US consumer expectations to raise prices had been launched in four decades.

The White House claims that the US economy is on the verge of a “golden age”, and that dozens of countries now facing 10% of the US duties are trying to conclude agreements with it.

“The phones are ringing to make agreements,” the White House spokesman told reporters on Friday.

Beijing increased Chinese tariffs on US products to 125% on Friday – the last jump of escalating trade with Washington – and accused Trump of “unilateral bullying and coercion”.

“Even if the US continues to impose even higher duties, it would no longer have any financial importance and would remain a joke in the history of the world economy,” the Chinese finance ministry said.

Some investors were laughing. US government bonds – usually considered one of the safest financial assets in the world – have continued to fall. The dollar also fell against other coins such as the euro and the pound.

The top stock market markers took a “breath” on Friday after the ongoing losses of the previous days.

“We are doing very well with our pricing policy,” Trump wrote on Truth Social. “Very exciting for America and the world !!! It moves quickly. Djt »

Some of Wall Street’s most important personalities were not convinced. “I think we are very close, if not in recession now,” Larry Fink, Managing Director of the Investment Colossus Blackrock, told CNBC. Not only does it provide certainty, but the 90 -day pause for the highest US duties in much of the world “means greater uncertainty,” he added.

Jamie Dimon, chief executive of JPMorgan Chase, the largest bank of the US, said the world’s largest economy is facing “significant upheavals”, as the basic index of consumer confidence has fallen to the lowest level of the Covid-19 pandemic.

The consumer climate in the US decreased by 11% to 50.8 this month, in view of the pause announced by Trump earlier this week, according to a regular research compiled by the University of Michigan.

Expectations for inflation in the meantime have increased, with respondents declaring that they are preparing to increase prices by 6.7% next year.

“Consumers have become anxious to fossilized,” observed Samuel Tobs, US economist at Pantheon Macroeconomics. He added, however, that a bipartisan gap – with the Democrats becoming more pessimistic, while Republicans become more optimistic – suggests that people leave their political views to blur their financial confidence.

In a letter to the US Securities and Exchange Commission (SEC), the Senate Democrats, including Elizabeth Warren and Chuck Sumer, wrote: “It is unconscious that as US families are concerned about their financial security during this financial crisis, commit possible fraud in the US financial audience. “

Meanwhile, Tesla stopped accepting orders in China for two models that has previously introduced from the US as companies are trying to adapt to the banning duties imposed by the Trump trade war.

Border duties make the trade of goods between the two countries prohibitively expensive and the US -imported cars are now much less attractive to China than those produced there.

In the United Kingdom, economists have warned that the strongest of the expected growth of 0.5% in February is likely to prove to be short -lived as the impact of Trump’s trade war is felt throughout the world economy.