Despite the unfavorable depiction of the new tariff policy by Democrats and their allies in mainstream media, President Donald Trump remains committed to it.
Trump asserted in a post on his TruthSocial account on Saturday that his tariffs are generating trillions of dollars for the US economy.
He stated, ‘We are revitalizing businesses and creating jobs like never before. Over FIVE TRILLION DOLLARS IN INVESTMENT HAS ALREADY BEEN MADE, and it is increasing rapidly! We WILL ACHIEVE VICTORY IN THIS ECONOMIC REVOLUTION.’
Last week, Trump enacted a foundational tariff of 10 percent on all imports, with increased rates for specific nations.
This announcement caused the DOW Jones and S&P 500 to plummet to levels not witnessed in a decade, triggering a panic in the stock market. Nevertheless, the president remained steadfast in his commitment to his chosen path.
“HANG TOUGH,” he stated, “it will not be easy, but the results will be historic.” He proclaimed, “We will, MAKE AMERICA GREAT AGAIN!!!” before subsequently criticizing China after Beijing responded by imposing a 34 percent tariff on American goods.
He asserted that China had suffered significantly more than the United States, stating that their treatment of us, along with that of several other nations, has been unsustainable. We are no longer the defenseless ‘whipping post’ that we once were.
He further alleged that China had misjudged the situation and reacted in panic, which was a critical error on their part. In a TikTok video shared on his TruthSocial account, Trump claimed he was deliberately causing a stock market crash.
The video’s narrator suggested that Trump is orchestrating a 20% decline in the stock market this month, and noted that Warren Buffett recently remarked that Trump is making the most prudent economic decisions he has seen in over five decades.
The narrator explained that Trump is engaging in a strategic maneuver that could lead to wealth creation, aimed at directing funds into Treasuries, which would prompt the Federal Reserve to lower interest rates in May.
This would enable the Fed to refinance trillions of dollars in debt at minimal costs, reduce mortgage rates, and devalue the dollar. While this strategy may seem unconventional, it is proving effective.
The narrator also addressed concerns regarding Trump’s tariffs, describing them as a clever tactic that incentivizes businesses to manufacture domestically to avoid these tariffs. This has already resulted in increased domestic sales of agricultural products, thereby significantly reducing grocery prices.
It is important to note that 8% of Americans hold 94% of all stocks, meaning Trump is redistributing short-term wealth from the affluent to the middle class through lower prices. Furthermore, nations are responding positively to the newly imposed taxes.
On Friday morning, Trump announced that Vietnamese leader To Lamis is prepared to eliminate tariffs to prevent imposing new U.S. duties on imports from Vietnam.
I recently had a productive conversation with To Lam, the General Secretary of the Communist Party of Vietnam, during which he conveyed that Vietnam is interested in reducing their tariffs to zero if an agreement can be reached with the United States.
On behalf of our nation, I expressed my gratitude and my anticipation for a forthcoming meeting,” Trump stated. The announcement of the call, which Trump shared via social media, led to an increase in the stock prices of companies that produce some of their goods in Vietnam, with Nike’s stock rising by more than 4%.
Earlier this week, the Trump administration had imposed tariffs of 46% on Vietnam. According to the Wall Street Journal, Trump mentioned on Friday that he is eager to meet with To Lam soon.
Despite the additional economic uncertainty caused by Trump’s tariff policies, the U.S. economy showed growth in March, adding jobs at a faster rate than in February.
On Friday, the Labor Department reported that employers created 228,000 new jobs in March, surpassing the 135,000 jobs forecasted by LSEG economists.
