Stock markets across Asia and Europe crashed, recalling the mayhem markets witnessed in the past. This time, the trigger was Trump’s trade tariffs, which were announced last week. The US President has doubled down on his stance and said, “Oil prices are down…there is no Inflation” as experts have warned of a high risk of recession.
Mr Trump posted on his social media platform, Truth Social and said, “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place.”
He called China the “biggest abuser of them all” on tariffs after Beijing retaliated with counter tariffs.
The US President said, “This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate. They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past “leaders” are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!”
The US’s economic rival, China, retaliated against Trump tariffs by announcing new 34-per-cent tariffs on US imports starting April 10.
China said it would sue Washington at the World Trade Organization and restrict the export of rare earth elements used in high-end medical and electronics technology.
