U.S. president Donald Trump said he did not effort to sink the stock marketplace erstwhile he announced his duties. "I don't want anything to fall down, but sometimes you request to take medicine to fix something," he told reporters.
"We were treated so badly by another countries due to the fact that we had stupid leadership that allowed this," he continued.
Let us remind you: Last Wednesday Trump announced tariffs to 185 countries. The stakes begin with a 10% base rate and concern a wide scope of US "enemies and friends", including major allies in Europe and Asia.
"April 2, 2025 will forever be remembered as the day of the American industry's revival, the day of America's restoration and the day on which we began to make America rich again," Trump said in a statement.
It's not going well so far. The American stock marketplace is down. The S&P 500 index fell by almost 14% compared to the start of the year, Nasdaq Composite by 19%. No wonder, due to the fact that "tariffs" hit Asian states that are U.S. production facilities. He ran the Nike course, which has many factories in the charged Vietnam duties. It was revealed that the cost of producing an iPhone (composed in Asia) would increase by 60 percent.
But according to Trump (he wrote this on Sunday on fact Social), the imposition of duties is the only way America can resolve its "great financial deficits with China, the European Union and many others".
"The surplus in these countries increased during 'presidentship' of sleeping Joe Biden. We'll turn it around and turn it around fast. 1 day people will realize that customs for the United States of America are something beautiful!", Trump wrote.
"For me, the most beautiful word in the dictionary is customs," Trump said during the economical Club of Chicago event in October 2024.
Now the president of the United States has argued that abroad trade partners in America are coming to him to negotiate. He pointed out that this is only possible if they agree to balance their trade with the US.
He said that on the weekend he spoke with leaders from Europe and Asia who hope to convince him to cut tariffs by up to 50 percent.
– They're coming to dinner. They want to talk, but there's no talking until they pay us quite a few money all year. First for the present, but besides for the past – he spoke mysteriously. He suggested that the word "for the past" meant any form of compensation for the fact that Europe "has taken many assets".
And if we are in Europe, it is worth noting that Trump spoke very briefly about negotiations with Russia and the war in Ukraine. He stated that talks with Moscow continue, but "he does not like bombing".
