An ill -cited statement that President Donald Trump is considering a 90 -day break on his large -scale reciprocal rates is “false news,” said the White House on Monday, while Trump defends his levies while the American markets are faced with historical sales.
Trump defended his prices despite a historic sale on the US markets, claiming its samples … More
AFP via Getty ImagesThe White House said on Monday that Kevin Hassett, director of the national economic council, had never indicated that Trump would consider a 90 -day break on his prices during an appearance in Fox News, and the press secretary of the White House, Karoline Leavitt, told CNN that reports citing this statement are “false news”.
During his interview, Hassett was asked if Trump could call a “90 -day dead time” on his prices, to which Hassett replied: “I think the president will decide what the president will decide.”
Hassett’s quote seemed to be misinterpreted on X, where some users said that Hassett confirmed that Trump was considering a break, leading to reports citing his declaration.
The industrial average of Dow Jones, the S&P 500 and the NASDAQ, each increased briefly as a result of reports, including the S&P increasing more than 6% over a period of 30 minutes, before the markets fell again after refutation of the White House.
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Post, Trump wrote in the United States “has a chance to do something that should have been done decades ago”, saying that the Americans – that Trump warned not to be “weak” or “stupid” – had to be “patient” as “grandeur will be the result”. Trump praised oil prices as a victory for his prices and called on the federal reserve to reduce interest rates, although he falsely affirmed that there was “no inflation”, because economists and political decision-makers have declared that inflation would get worse under its prices and that inflation remains above the 2% target of the Fed. Other messages shared by Trump on Truth Social have presented Fox News clips while commentators and legislators have supported his prices, including a video of the host Maria Baritromo saying: “The prices fall, the oil prices fall, deregulation occurs”, while adding: “President Trump will not bend.” Last week, Trump seemed to refer to samples as an “operation” that would allow the economy to be “much stronger, larger, better and more resilient than ever before”, and while being on board the Air Force One on Sunday, Trump said: “Sometimes you have to take medication to repair something.”
“One day, people will realize that the prices, for the (United States), are a very beautiful thing!” Trump wrote on Truth Social on Sunday, adding “massive financial deficits” with China, the European Union and other business partners would be “healed” with prices.
Some billionaire donors from Trump have criticized or addressed economic problems that may arise as a result of Trump’s prices. The founder of Pershing Square and Trump’s supporter, Bill Ackman, said on Sunday about prices: “We head for a self-induced economic nuclear winter and we have to start silent.” Ackman said on Monday that he was “crushed by looking at what I think is a major political error”, after Trump has made “enormous economic progress that is now at risk” due to prices. The CEO of JPMorgan Chase, Jamie Dimon, told the shareholders on Monday that there are “legitimate reasons” to impose prices, they will probably increase inflation and “will cause that many envisage a greater probability of recession” while potentially affecting “long -term economic alliances of America”. The billionaire of hedge funds Daniel Loeb, who previously declared that he thought that Trump’s initial prices in Mexico and Canada would not harm the stock market, said on Monday that a recent sale was “everything in the head of a person” who could “change his mind at any time”. Virgin Group’s founder Richard Branson warned in a series of social networks publications that the United States could “face the ruin for the coming years” unless Trump decides to “change course” on his pricing policies. Elon Musk, CEO of Tesla and a close ally of Trump, criticized Trump’s best sales advisor and recently shared a video of the economist Milton Friedman, who defended free trade and defended the benefits of importing goods.
During what Trump announced as “release day” on Wednesday, he announced a reference rate of 10% in most American business partners. Trump argued that prices would return and increase manufacturing in the United States, a decision that would punish countries for what he called unfair commercial practices. The details on the prices were largely unknown before its announcement, as the White House said that Trump and his advisers “perfect” rates a few hours earlier, said Leavitt. Trump previously launched a universal tariff of 20% on all products imported during his 2024 campaign, and the Treasury Secretary, Scott Bessent, said that last month prices would target 15% of countries that explain most of the trade with the United States, some market analysts have warned Trump’s prices could increase the prices of many products, including coffee, rice, chocolate and electronics. The White House argued that the prices would not have had an impact on consumer prices, citing a declaration by the former secretary of the Treasury, Janet Yellen, last year. Yellen’s quote: “I do not believe that American consumers will see a significant increase in the prices they face”, seems to be shortened, because it later says that the prices have been “very carefully targeted” in the sectors already supported by the Biden administration.
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