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 мираThe conflict over Iran is gradually taking on the characteristics of a broader international confrontation. According to American officials, Russia is providing Tehran with intelligence information that could be used to attack US military facilities in the Middle East.
Новости мираКонфликт вокруг Ирана постепенно приобретает признаки более широкого международного противостояния. По данным американских чиновников, россия передаёт Тегерану разведывательную информацию, которая может использоваться для атак на военные объекты США на Ближнем Востоке.
Новости мираThe latest statements of US President Donald Trump indicate that Israel plays one of the central roles in shaping the strategy of the military campaign against Iran.
Новости мираПоследние заявления президента США Дональда Трампа свидетельствуют о том, что Израиль играет одну из центральных ролей в формировании стратегии военной кампании против Ирана.
Новости мираStatements by the Pentagon leadership about the end of the era of “politically correct wars” indicate a possible change in the United States’ approach to military operations in the Middle East. At the same time, Washington continues to deploy additional forces to the region, which increases tensions around Iran.
Новости мираЗаявления руководства Пентагона о завершении эпохи «политкорректных войн» могут свидетельствовать о смене подходов Соединённых Штатов к военным операциям на Ближнем Востоке. Параллельно Вашингтон продолжает перебрасывать дополнительные силы в регион, усиливая напряжённость вокруг Ирана.
Новости мираAn Iranian drone attacked the international airport in Nakhichevan (Azerbaijan), causing a fire. This is the first case of the use of such UAVs to strike the territory of the country, which creates a dangerous precedent for the entire region.
Новости мираИранский беспилотник атаковал международный аэропорт в Нахичевани (Азербайджан), в результате чего был зафиксирован пожар. Это первый случай применения подобных БПЛА для удара по территории страны, что создаёт опасный прецедент для всего региона.
Новости мираThe New York Times has published satellite images of destroyed facilities, which, according to the publication, were used by Iran to store and produce ballistic missiles. According to the newspaper, the elimination of Iran's missile potential has become one of the key goals of President Donald Trump in the framework of the military campaign against Tehran.
Новости мираThe New York Times опубликовала спутниковые снимки разрушенных объектов, которые, по данным издания, использовались Ираном для хранения и производства баллистических ракет. По информации газеты, ликвидация иранского ракетного потенциала стала одной из ключевых целей президента Дональда Трампа в рамках военной кампании против Тегерана.
Новости «Новости мира»
Новости мираThe conflict over Iran is gradually taking on the characteristics of a broader international confrontation. According to American officials, Russia is providing Tehran with intelligence information that could be used to attack US military facilities in the Middle East.
Новости мираКонфликт вокруг Ирана постепенно приобретает признаки более широкого международного противостояния. По данным американских чиновников, россия передаёт Тегерану разведывательную информацию, которая может использоваться для атак на военные объекты США на Ближнем Востоке.
Новости мираThe latest statements of US President Donald Trump indicate that Israel plays one of the central roles in shaping the strategy of the military campaign against Iran.
Новости мираПоследние заявления президента США Дональда Трампа свидетельствуют о том, что Израиль играет одну из центральных ролей в формировании стратегии военной кампании против Ирана.