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 latest agreement between the US and China to resume a trade truce is not a symbol of reducing tensions, but an attempt to buy time in a large geo-economic chess game. This opinion was expressed by international expert, first vice president of the Iranian opposition in Washington, Ali Reza Rezazade, commenting on the results of negotiations between delegations of the two superpowers in London.
Новости мираПоследняя договорённость между США и Китаем о возобновлении торгового перемирия — это не признак деэскалации, а попытка выиграть время в большой геоэкономической шахматной партии. Об этом заявил международный эксперт, первый вице-президент иранской оппозиции в Вашингтоне Али Реза Резазаде, комментируя итоги переговоров между делегациями двух сверхдержав в Лондоне.
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Новости мираТо, что сегодня происходит в Лос-Анджелесе, выходит далеко за рамки обычного политического конфликта. Это не просто противостояние между администрациями, а симптом глубокого кризиса доверия между федеральной властью США и местными сообществами. Об этом заявил первый вице-президент иранской оппозиции в Вашингтоне, международный эксперт Али Реза Резазаде.
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Новости мираThe decision of the Donald Trump administration to renew and expand the ban on entry to the US for citizens of 19 countries has provoked a sharp reaction from human rights activists, lawyers and international experts.
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Новости «Новости мира»
Новости мираThe latest agreement between the US and China to resume a trade truce is not a symbol of reducing tensions, but an attempt to buy time in a large geo-economic chess game. This opinion was expressed by international expert, first vice president of the Iranian opposition in Washington, Ali Reza Rezazade, commenting on the results of negotiations between delegations of the two superpowers in London.
Новости мираПоследняя договорённость между США и Китаем о возобновлении торгового перемирия — это не признак деэскалации, а попытка выиграть время в большой геоэкономической шахматной партии. Об этом заявил международный эксперт, первый вице-президент иранской оппозиции в Вашингтоне Али Реза Резазаде, комментируя итоги переговоров между делегациями двух сверхдержав в Лондоне.
Новости мираWhat is happening in Los Angeles today goes beyond the usual political confrontation. This is not just a conflict of administrations, but a symptom of a deeper breakdown of trust between the US federal authorities and local communities. This was stated by the first vice president of the Iranian opposition in Washington, international expert Ali Reza Rezazade.
Новости мираТо, что сегодня происходит в Лос-Анджелесе, выходит далеко за рамки обычного политического конфликта. Это не просто противостояние между администрациями, а симптом глубокого кризиса доверия между федеральной властью США и местными сообществами. Об этом заявил первый вице-президент иранской оппозиции в Вашингтоне, международный эксперт Али Реза Резазаде.