By Chris Megerian, Associated Press
Washington (AP) – President Donald Trump remained provocative on Monday while the world markets continued to dive and the fears of a recession increased after the announcement of his price last week.
He said that other countries had “benefited from the good old USA!” In an article on Truth Social, its social media platform.
“Our past” leaders “are to blame for having allowed that, and many other things, arrives at our country,” wrote Trump. “Build America again great!”
Trump insisted that his prices are necessary to rebalance world trade and rebuild national manufacturing. He distinguished China as “the greatest attacker of all” and criticized Beijing for having increased his own rates in retaliation.
The republican president also called on the federal reserve to reduce interest rates. Friday, the president of the federal reserve, Jerome Powell, warned that the prices could increase inflation, and he declared: “There is a lot of expectations and to see taking place, including by us”, before any decision is made.
Trump spent the weekend in Florida, arriving Thursday evening to attend a tournament funded by Arabia in his Miami golf course. He stayed in Mar-A-Lago, his private club in Palm Beach, and a golf course in two of its nearby properties.
On Sunday, he published a video of himself with a trip, and he told journalists on the Air Force one that evening that he had won a club championship.
“It’s good to win,” said Trump. “You heard that I won, right?”
He also declared that he would not back up his prices despite the turmoil in the world markets.
“Sometimes you have to take medication to repair something,” said Trump.
Goldman Sachs has published new forecasts indicating that a recession has become more likely even if Trump is falling from his prices. The financial firm said that economic growth would slow down considerably “as a result of a net tightening of financial conditions, boycotts of foreign consumers and a continuous increase in political uncertainty which is likely to repress capital expenses more than what we had supposed before”.
On Monday, the president is expected to welcome the Los Angeles Dodgers to the White House to celebrate their World Series victory. He also met Israeli Prime Minister Benjamin Netanyahu, and they should hold a joint press conference in the afternoon.
Trump tried from a united front after the chaotic intestine struggles of his first mandate. However, economic turbulence has exposed certain fractures within its disparate coalition of supporters.
Bill Ackman, a healing fund manager, was unleashed to the Commerce Secretary Howard Lutnick on Sunday as “indifferent to the stock market and the economy that crashes”. He said that Cantor Fitzgerald, the financial company led by Lutnick before joining the Trump administration, took advantage of profit due to bond investments.
Ackman apologized for his criticism on Monday, but reiterated his concerns about Trump’s prices.
“I am just frustrated to see what I think is a major political error occurs after our country and the president has made enormous economic progress which is now at risk due to the prices,” he wrote on X.
The top economic advisor of the White House, Kevin Hassett, told Fox News Channel that Jckman should “reduce rhetoric a little.”
He insisted that other countries, not the United States, “will bring the weight of prices”.
Billionaire Elon Musk, one of Trump’s main advisers on the revision of the federal government, expressed his skepticism as for the prices during the weekend. Musk said prices would increase costs for Tesla, its electric car manufacturer.
“I hope it is agreed that Europe and the United States should ideally evolve in my opinion towards a zero tariff situation, effectively creating a free trade area between Europe and North America,” Musk said during a video with Italian politicians.
He added: “It was certainly my advice to the president.”
Peter Navarro, a Trump sales advisor and a faresist, later told Fox News that Musk “does not understand” the situation.
“He sells cars,” said Navarro. “That’s what he does.” He added that “he simply protects his own interests as any businessman would.”
Originally published:
California Daily Newspapers
