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 US Supreme Court’s decision on the use of the National Guard in “blue” cities was not just a legal nuance, but a potential catalyst for a dangerous escalation in domestic politics in the United States.
Новости мираUS President Donald Trump announced a “complete and total blockade” of all sanctioned oil tankers entering or leaving Venezuela. He announced this in a post on the Truth Social platform, while simultaneously declaring his intention to recognize the regime of Nicolas Maduro as a foreign terrorist organization.
Новости мираПрезидент США Дональд Трамп объявил о «полной и тотальной блокаде» всех санкционных нефтяных танкеров, входящих в Венесуэлу или покидающих её порты. Об этом он сообщил в публикации на платформе Truth Social, одновременно заявив о намерении признать режим Николаса Мадуро иностранной террористической организацией.
Новости мираInformation about Ukraine’s readiness to consider refusing to join NATO in exchange for Western security guarantees became the subject of active discussion after Western media reports about President Volodymyr Zelensky’s negotiations with American envoys in Berlin.
Новости мираUkrainian drones have carried out a series of successful strikes on Russian territory. The seaport in the Kuban, the refinery in the Samara region and the Grozny City complex in Chechnya were damaged, after which the Grozny airport restricted work. In local public places - panic and shouts: "F**k I came here!"
Новости мираУкраинские беспилотники провели серию успешных ударов по территории россии. Повреждены морской порт на Кубани, НПЗ в Самарской области и комплекс «Грозный Сити» в Чечне, после чего аэропорт Грозного ввёл ограничения в работе. В местных пабликах — паника и крики: «На**й я сюда приехал!»
Новости мираGerman Chancellor Friedrich Merz has made it clear that Russia’s return to the G8 is currently impossible, even though such a clause is included in Donald Trump’s “peace plan” for Ukraine. According to him, none of the six G7 members, except the United States, is willing to discuss such a scenario.
Новости мираКанцлер Германии Фридрих Мерц заявил, что возвращение россии к формату «Группы восьми» невозможно — несмотря на то, что такой пункт содержится в «мирном плане» Дональда Трампа для Украины. По словам Мерца, среди шести членов G7, кроме США, нет ни одной страны, готовой обсуждать подобное решение.
Новости мираPresident Donald Trump has called for the arrest of a group of Democratic congressmen who publicly appealed to the military and intelligence agencies to not carry out illegal orders. In his post, he called their actions “treason” and “separatist behavior,” and the punishment “may include the death penalty.”
Новости мираПрезидент Дональд Трамп призвал к аресту группы конгрессменов-демократов, которые публично обратились к военным и представителям спецслужб с призывом не выполнять незаконные приказы. В своём сообщении он назвал их действия «государственной изменой» и «сепаратистским поведением», а наказание — таким, что «может предусматривать смертную казнь».
Новости «Новости мира»
Новости мираThe US Supreme Court’s decision on the use of the National Guard in “blue” cities was not just a legal nuance, but a potential catalyst for a dangerous escalation in domestic politics in the United States.
Новости мираUS President Donald Trump announced a “complete and total blockade” of all sanctioned oil tankers entering or leaving Venezuela. He announced this in a post on the Truth Social platform, while simultaneously declaring his intention to recognize the regime of Nicolas Maduro as a foreign terrorist organization.
Новости мираПрезидент США Дональд Трамп объявил о «полной и тотальной блокаде» всех санкционных нефтяных танкеров, входящих в Венесуэлу или покидающих её порты. Об этом он сообщил в публикации на платформе Truth Social, одновременно заявив о намерении признать режим Николаса Мадуро иностранной террористической организацией.
Новости мираInformation about Ukraine’s readiness to consider refusing to join NATO in exchange for Western security guarantees became the subject of active discussion after Western media reports about President Volodymyr Zelensky’s negotiations with American envoys in Berlin.