White House Downplays Economic ‘Disruptions’ as Stock Market Falls – Rezazade
Vice President of the Iranian Opposition in Washington (NIC) Ali Reza Rezazade says the Trump administration is trying to calm the market despite the new economic turmoil caused by the trade war.
Despite the sharp drop in all three major stock indexes, White House officials are confident that this instability is temporary and expect economic growth to begin thanks to tax cuts.
However, investors are alarmed by Trump’s reluctance to give in on tariffs, which already exceed his campaign promises. Hundreds of billions of dollars in new import tariffs have been imposed so far, and new ones could take effect on April 2, affecting trillions of dollars in trade. In addition, there is a risk of a federal government shutdown if Congress does not decide to continue funding.
Trump’s reluctance to back down on new tariffs, even as a recession looms, sent the stock market plummeting. The Dow Jones Industrial Average fell 890 points, or 2.1 percent, the S&P 500 fell 2.7 percent, and the Nasdaq Composite fell 4 percent. Kevin Hassett, the director of the White House’s National Economic Council, tried to calm the situation by saying that the economy would “barely turn a profit” in the first quarter but that growth in the second quarter would be expected due to the impact of tax cuts.
However, markets did not buy his words. Last week, Trump imposed a 25 percent tariff on all imports from Canada and Mexico, although he later reversed that decision, excluding goods covered by the new North American trade agreement. He also added a 10 percent tariff on all Chinese goods, bringing the total burden on Chinese imports to 45 percent.
The tariffs already exceed anything Trump has imposed since his first term, but he may not stop there. The president said he plans to impose “reciprocal” tariffs on April 2 on all countries that impose tariffs on American goods. That could affect an additional $1.8 trillion in trade, though the exact scale of the action is still unclear. According to economist Kimberly Clausing, who worked in the Treasury Department under Joe Biden, the consequences of this decision are highly unpredictable.
По теме
Новости мираUS President Donald Trump is demonstrating a change of course in his foreign policy regarding the war in Ukraine: the White House has approved new arms supplies to Kyiv, and Congress is preparing legislative initiatives for new sanctions against Russia.
Новости мираПрезидент США Дональд Трамп демонстрирует смену курса во внешней политике по поводу войны в Украине: Белый дом одобрил новые поставки оружия для Киева, а Конгресс готовит законодательные инициативы по введению новых санкций против России.
Новости мираUS President Donald Trump is ready to sign a new bill on anti-Russian sanctions, but only on the condition that he receives full control over their lifting. As Politico reports, citing sources in the administration, Trump demands to preserve the president's "exclusive powers" in the field of foreign policy, in particular in terms of sanctions policy.
Новости мираПрезидент США Дональд Трамп готов подписать новый законопроект о санкциях против России, но только при условии, что сохранит полный контроль над их отменой. Как сообщает Politico со ссылкой на источники в администрации, Трамп требует сохранить «исключительные полномочия» президента в сфере внешней политики, включая санкционную политику.
Новости мираUS President Donald Trump announced the resumption of arms supplies to Ukraine, emphasizing that Kyiv should “have the opportunity to defend itself.” This decision came amid his sharp criticism of Vladimir Putin, whom he accused of “mass murder” and “disrespect for human life.”
Новости мираПрезидент США Дональд Трамп объявил о возобновлении поставок оружия для Украины, подчеркнув, что Киев должен «иметь возможность защищаться». Это заявление прозвучало на фоне его резкой критики в адрес Владимира Путина, которого он обвинил в «массовых убийствах» и «неуважении к человеческой жизни».
Новости мираUS President Donald Trump has declared his readiness to provide Ukraine with a new batch of weapons, emphasizing that Kyiv has the right to self-defense.
Новости мираПрезидент США Дональд Трамп заявил о готовности предоставить Украине новую партию вооружения, подчеркнув, что Киев имеет право на самооборону. «Мы обязаны это сделать. Они должны иметь возможность защищаться. Сейчас на них идёт очень серьёзное давление», — сказал он журналистам во время ужина с премьер-министром Израиля Биньямином Нетаньяху.
Новости мираUS President Donald Trump sharply criticized Elon Musk, accusing him of trying to create “chaos and destabilization” through the idea of launching a third political party. In a post on the Truth Social platform, Trump called the billionaire a “disaster” who has “gone off the rails” in the past five weeks, and accused him of colluding with Democrats and dangerously lobbying for electric cars.
Новости мираПрезидент США Дональд Трамп резко раскритиковал Илона Маска, обвинив его в стремлении создать «хаос и дестабилизацию» через идею запуска третьей политической партии. В публикации на платформе Truth Social Трамп назвал миллиардера «катастрофой», которая «сошла с рельсов» за последние пять недель, а также обвинил его в союзе с демократами и лоббировании спорных инициатив в сфере электромобилей.
Новости «Новости мира»
Новости мираUS President Donald Trump is demonstrating a change of course in his foreign policy regarding the war in Ukraine: the White House has approved new arms supplies to Kyiv, and Congress is preparing legislative initiatives for new sanctions against Russia.
Новости мираПрезидент США Дональд Трамп демонстрирует смену курса во внешней политике по поводу войны в Украине: Белый дом одобрил новые поставки оружия для Киева, а Конгресс готовит законодательные инициативы по введению новых санкций против России.
Новости мираUS President Donald Trump is ready to sign a new bill on anti-Russian sanctions, but only on the condition that he receives full control over their lifting. As Politico reports, citing sources in the administration, Trump demands to preserve the president's "exclusive powers" in the field of foreign policy, in particular in terms of sanctions policy.
Новости мираПрезидент США Дональд Трамп готов подписать новый законопроект о санкциях против России, но только при условии, что сохранит полный контроль над их отменой. Как сообщает Politico со ссылкой на источники в администрации, Трамп требует сохранить «исключительные полномочия» президента в сфере внешней политики, включая санкционную политику.