US President Donald Trump has ignored the earthquake in his country’s stock market due to tariff war. He has defended his aggressive stance on the issue of trade. Trump has claimed that his policies will eventually promote the US economy. In a post on Truth Social, Trump said, ‘Big business tariffs are not worried about, as they know they will remain here, but their focus is on the Big Beautiful Deal, which will promote our economy. This is very important and its process is still going on.
His remarks have come amidst the worst crisis after the Kovid-19 epidemic on Wall Street (US stock market). Standard and Puers 500 (S&P 500) has fallen by 6%, due to which the market value has fallen by $ 5 trillion in just two days. While Dow Jones Industrial Average (DJIA) declined by 5.5% and 5.8% in NASDAQ, which has reached the stock market recession. The selling in the US stock market began when China imposed equal fee in response to Trump’s new tariff. China will now collect 34% tariffs on all American imports, which will be effective from April 10.
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This is a great time to become rich: Trump
The possibility of increasing trade war and global recession has shaken the trust of investors. Donald Trump told his supporters, ‘This is a great time to become rich’, and emphasized that this economic pain is part of an essential process to cure trade imbalance. Comparing this with surgery, he suggested that temporary discomfort would get long -term benefits. On Beijing’s counter-tariffs applying the counter-tariff, the US President wrote in another post on Truth social, ‘China played the wrong game, they were nervous- one thing he cannot tolerate.’ He also indicated a trade agreement with other countries. He said, “If Vietnam gets a chance to compromise with America, then he is ready to reduce his tariff to zero on our imports.”
Also read: Trade war started! China gives a befitting reply to Trump, now Dragon will charge 34% tariff on American goods
Only weak will fail: Trump
Tariff War also led to a decline in foreign stock markets. Germany’s DAX dropped 5%, France’s CAC 40 4.3% fell and Japan’s Nikkei fell 2.8% 2.8%. Meanwhile, oil prices came to their lowest level since 2021 and a similar decline in the price of metals like copper. American Federal Reserve President Jerome Powell warned that the tariff may reach the peak and reduce GDP growth, which is a sign of caution on interest rate cuts. But Donald Trump posted him urging him to take action, ‘Cut interest rates, stop doing geom, and politics.’ Due to China’s counter -tariff, companies like GE Healthcare and DuPont suffered heavy losses, but Trump continued to present a positive picture. Playing golf on the weekend at his Mar-e-Lago Resort in Florida, he said, “Only weak will fail.”