President Donald Trump said on Sunday that business leaders who oppose his reciprocal prices do not appreciate what he does for them.
“Businessmen who criticize the prices are bad in business, but really bad in politics,” Trump wrote in a social article on Truth on Easter Sunday.
“They do not understand or do not realize that I am the greatest friend that American capitalism has ever had!” Added Trump.
Trump announced scanning prices on more than 180 countries on April 2.
A reference rate of 10% entered into force on April 5, while a set of higher rates that varied by the country entered into force on April 9 before Trump announced a 90 -day break on the same day. Trump’s prices have triggered a massive market sale.
Trump included no name in his social article on Sunday, but several eminent entrepreneurs and leaders have publicly criticized Trump’s decision to impose prices on American trade partners.
JPMorgan CEO Jamie Dimon told Financial Times in an interview published Tuesday that the uncertainty created by Trump’s prices challenged America’s reputation as “paradise”.
“I do not worry as much for the markets as to keep the Western world together, free and safe for democracy,” Dimon told FT.
“And that, for me, means that you want to strengthen economic relations. If there is an injustice, manage it. But yes, we must be cautious. I do not think that anyone assumes that he has a divine right to success, and therefore, do not worry,” added Dimon.
Earlier, on April 9, Dimon said in an interview with Fox Business that a recession is a “probable result” with Trump’s prices. Trump said in a social article of truth, a few hours before announcing a 90 -day break on the prices, which he had watched Dimon’s interview.
Dimon is not the only business manager to warn against the risks that Trump’s prices could have on the economy.
The star of “Shark Tank” Mark Cuban has repeatedly shot Trump’s prices. On April 2, the day Trump announced his radical prices, Cuban wrote on Bluesky that people should “buy a lot of consumables” now before prices increase.
“Even if it is made in the United States, they will increase the price and blame it on the prices,” wrote Cuban.
Then, on April 9, a few hours before Trump returned his prices, Cuban said that companies probably react to prices by reducing jobs to save costs.
“What some people do not take into account their analysis is the reality that companies bought tons of inventory to beat the prices. It is money taken to be able to invest or hire,” wrote Cuban in an article on Bluesky.
Elon Musk, one of Trump’s largest donors, also broke with the position of administration on prices. Tesla CEO and SpaceX called for a “free trade area” between Europe and the United States and criticized Trump’s best sales advisor Peter Navarro after Trump’s price announced.
Elon Musk’s younger brother Kimbal Musk was more pointed at his criticism of Trump’s prices.
“Thanks to his pricing strategy, Trump implemented a structural and permanent tax on the American consumer,” wrote Kimbal Musk in an X post on April 7.
The White House did not respond to a request for comments from Business Insider.
businessinsider
