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 мираNew evidence of mass repressions in Iran has shocked the international community. Photos and videos have appeared on the Internet, showing traces of torture and ill-treatment on the bodies of deceased protesters. According to human rights sources and the Iranian opposition, the number of people killed and tortured may reach more than 50 thousand people.
Новости мираНовые свидетельства массовых репрессий в Иране шокировали международное сообщество. В сети появились фото и видео, демонстрирующие следы пыток и издевательств на телах погибших протестующих. По данным правозащитных источников и иранской оппозиции, число убитых и замученных может превышать 50 тысяч человек.
Новости мираThe initiative announced by US President Donald Trump to create the so-called "Board of Peace" has already caused a controversial reaction among world leaders and has actually divided the international community into several camps.
Новости мираОбъявленная президентом США Дональдом Трампом инициатива по созданию так называемого «Совета мира» (Board of Peace) уже вызвала противоречивую реакцию среди мировых лидеров и фактически разделила международное сообщество на несколько лагерей.
Новости мираCanadian Prime Minister Mark Carney, speaking at the World Economic Forum in Davos, said there was a radical shift in the global order - a "break" in the world order, one that is no longer based on rules but on competition and coercion by powerful states.
Новости мираПремьер-министр Канады Марк Карни в Давосе, на Всемирном экономическом форуме, заявил о радикальных изменениях в глобальном устройстве — о «разрыве» мирового порядка, который больше не опирается на правила, а на конкуренцию и принуждение сильных государств.
Новости мираThe Donald Trump administration is increasingly relying on military force as a key element of foreign policy, but this is precisely what creates a strategic trap for the United States — especially in relations with Iran.
Новости мираАдминистрация Дональда Трампа всё активнее опирается на военную силу как ключевой элемент внешней политики, однако именно это, по мнению экспертов, создаёт для США стратегическую ловушку — особенно в отношениях с Ираном. Об этом заявил международный эксперт и первый вице-президент иранской оппозиции в Вашингтоне Али Реза Резазаде, комментируя усиление милитарной риторики Белого дома.
Новости мираВ воскресенье, 18 января, возле посольства Ирана в Киеве состоялась акция солидарности с иранцами, которые с конца декабря выходят на массовые антиправительственные протесты против Исламской республики. В мероприятии приняли участие десятки людей, большинство из которых — этнические иранцы, проживающие сегодня в Украине.
Новости мираOn Sunday, January 18, a rally in solidarity with Iranians who have been taking part in mass anti-government protests against the Islamic Republic since late December was held near the Iranian embassy in Kyiv. Dozens of people took part in the event, most of whom are ethnic Iranians currently living in Ukraine.
Новости «Новости мира»
Новости мираNew evidence of mass repressions in Iran has shocked the international community. Photos and videos have appeared on the Internet, showing traces of torture and ill-treatment on the bodies of deceased protesters. According to human rights sources and the Iranian opposition, the number of people killed and tortured may reach more than 50 thousand people.
Новости мираНовые свидетельства массовых репрессий в Иране шокировали международное сообщество. В сети появились фото и видео, демонстрирующие следы пыток и издевательств на телах погибших протестующих. По данным правозащитных источников и иранской оппозиции, число убитых и замученных может превышать 50 тысяч человек.
Новости мираThe initiative announced by US President Donald Trump to create the so-called "Board of Peace" has already caused a controversial reaction among world leaders and has actually divided the international community into several camps.
Новости мираОбъявленная президентом США Дональдом Трампом инициатива по созданию так называемого «Совета мира» (Board of Peace) уже вызвала противоречивую реакцию среди мировых лидеров и фактически разделила международное сообщество на несколько лагерей.