President Donald Trump put out a cryptic message Friday amid global meltdown over his tariffs as he wrote 'only the weak will fail'. The aftershocks of Donald Trump's massive tariff moves started with China announced an additional 34 per cent tariff on all US goods in retaliation with US tariff. Dow Jones market lost 2,000 points by midafternoon trading as investors are spooked by the tariff impacts.
“China played it wrong, they panicked - The one thing they cannot afford to do!" Trump wrote on Truth Social. China has also filed a lawsuit with WTO after US slapped the reciprocal tariffs.
Federal Reserve chair Jerome Powell Friday said inflation is likely to pick up because of the sweeping tariffs. “While uncertainty is high and downside risks have risen, the economy is still in a good place,” Powell said. He noted the March jobs report, released earlier Friday, showed unemployment ticked up to a still-low 4.2% last month. Employers added a nearly booming 228,000 jobs.
Just ahead of Powell's speech today, Trump urged him to cut interest rates. "This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image, and quickly."
For the stock market, Friday started badly for the Dow when it lost 1,000 points at the opening and continued from there. The NASDAQ wasn’t doing any better, losing 865 points by mid-Friday. That comes after it lost 1,000 points on Thursday during a historically bad day.
When asked how the tariffs are going amid the market decline, Trump responded: “I think it's going very well. It was an operation. I like when a patient gets operated on and it's a big thing.”
Trump marked his win with Vietnam as he announced that Vietnam wants to bring Us tariffs down to zero after US slapped it with reciprocal tariffs. "Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future," Trump posted.
“China played it wrong, they panicked - The one thing they cannot afford to do!" Trump wrote on Truth Social. China has also filed a lawsuit with WTO after US slapped the reciprocal tariffs.
Federal Reserve chair Jerome Powell Friday said inflation is likely to pick up because of the sweeping tariffs. “While uncertainty is high and downside risks have risen, the economy is still in a good place,” Powell said. He noted the March jobs report, released earlier Friday, showed unemployment ticked up to a still-low 4.2% last month. Employers added a nearly booming 228,000 jobs.
Just ahead of Powell's speech today, Trump urged him to cut interest rates. "This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image, and quickly."
For the stock market, Friday started badly for the Dow when it lost 1,000 points at the opening and continued from there. The NASDAQ wasn’t doing any better, losing 865 points by mid-Friday. That comes after it lost 1,000 points on Thursday during a historically bad day.
When asked how the tariffs are going amid the market decline, Trump responded: “I think it's going very well. It was an operation. I like when a patient gets operated on and it's a big thing.”
Trump marked his win with Vietnam as he announced that Vietnam wants to bring Us tariffs down to zero after US slapped it with reciprocal tariffs. "Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future," Trump posted.
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