The best economic officials of US President Donald Trump advocated extensive Occasion and rejected the concerns of investors from inflation and recession. They offered no apologies for confusion of the market caused by sweeping global tariffs, and defiantly insisted that it was on the horizon.
Trump’s economic team made bikes in Sunday morning politics and claimed that tariffs and downplaying the risks of recession, the Wall Street Journal reported.
On Sunday, the Minister of Finance Scott Bessnt, Minister of Commerce Howard Lutnick and others, said on the heels of the huge global stock market, and said Trump would persist in his tariff agenda, whether they could do the markets.
“The tariffs are coming,” Lutnick said on the face of the CBS, adding that Trump “announced it and did not joke.”
“I see no reason why we need a recession prize,” said Besbent NBC’s Meet the Press with Kristen Welker, despite JPMORGan economists, they say on Friday that they are now expecting the US to slip into the recession this year.
When Trump posted videos that in Florida, Florida, the White House’s shop Czar Peter Navarro said that investors should believe Trump’s determination, even if the level changes by negotiations. Bessnt said that more than 50 countries called the administration, but any interviews will have time.
More than 50 countries approached Trump and his team to start negotiations on tariffs, said Kevin Hassett, director of the National Economic Council, ABC, and quoted the report he had received from the US sales representative.
“They’ve been bad actors for a long time. And it’s not a thing you can negotiate in days or weeks,” Bessnt said. The US will first have to find out whether the offers of other countries were “believable”.
“We’ll have to see the way forward. Because you know, after 20, 30, 40, 50 years of bad behavior you can’t just erase the slate.”
Two days after Trump 2.
Trump urged his followers in a post on the social media on Saturday to “hang hard, it will not be easy, but the end result will be historical”.
The former manager of Hedge funds, who built his assets through his own key square group and in Soros Fund Management, played bloodshed on markets he described as “organic animals”.
“The market consistently underestimate Donald Trump,” he said.
Navarro predicted that the current faints in stocks will eventually turn into a roaring market. “We find the bottom on this market,” he said Sunday morning futures Fox News. “By the end of this semester we can easily hit 50,000 on Dow.”
Outside Trump’s administration, the others were less Sanguine.
Former Finance Minister Larry Summers said he met last week from the second largest two -day step since World War II, after the market accident in 1987, the financial crisis in 2008 and the 2020 Covid pandemia.
“A drop of this size indicates that it is likely that there will be problems ahead of us and people should be very careful,” said Summers, Professor Harvard University and paid the contributors to Bloomberg TV, in the X post.
Trump’s team comments came the day after another 10% duty on all imports in the US came into force on Saturday. Other adapted tariffs up to 50% can enter imports from about 60 countries on Wednesday. In more than a century, the announced tariffs will lead us to their highest level.
The prices of consumer
Kevin Hassett, head of the National Economic Council of the White House, acknowledged that US consumer prices “could go up”, but suggested that concerns between economists, federal reserve and some legislators were exaggerated.
Hassett also spoke about ABC this week, also said that Americans would benefit taxes and cuts Trump wants to push through Congress.
Both Bessnt and Hassett have downplayed concerns that tariff fire will be inflation and will create permanent disagreement with the federal reserve and economists of Wall Street.
Fed chairman Jerome Powell said it is “clear on Friday that the increase in the tariff will be significantly larger than expected” will probably lead to higher inflation and slower growth.
United comments from the best economic advisors Trump on Sunday strengthened the growing view that the President intends to make his tariffs with permanent accessories and sees any resulting economic pain that is behind the long -term transformation of the US economy.
Trump believes in tariff efforts and considers it his inheritance to reign American production, the administration official said. Trump wanted to do it in his first term and never did it, and it is the main belief he has been talking about from the age of 80.
The official added that, given the scope and scope of what the White House announced, the market could be worse.
Agenda
Trump said he was moving to transform the global economy to the advantage of America, and claims that tariffs will bring out a wave of investment because companies are building new factories in the US and bring jobs and wealth of homes to the US.
The main goal of its anger is the US trade deficit in goods that reached $ 1 trillion last year. Trump and his team say it is a priority of national security and “makes America again rich”.
Marc Short, who served in the first term of Trump as the director of legislative matters and then, as the Chief of Staff Vice President Mike Pence, said the markets assumed that Trump means that tariffs as a negotiating chip in the first administration, but Trump heard various advice this time.
A short, who, like Pence does not support tariffs, said on Saturday in an interview that he expected that the administration for the markets to expect a possible “surrender”. “But I don’t think it will be soon,” he said. “And when it comes, it will be framed as a victory.”
As evidence, he briefly pointed to Trump’s announcement on Friday that he could soon talk to the leader of Vietnam on the Agreement on lower obstacles. Vietnam, which was hit by 46% fee, offered at the weekend to remove all tariffs in US imports.
Short also said that the potential recession would risk other elements of Trump’s agenda, including interviews in the Congress to extend the tax cuts from the first term, if the Republicans face voters’ pressure about rising costs.
The search for explanations of tariffs meant that some administration officials had to go in an unusual direction on Sunday.
He asked in the face of the nation why the US deposited tariffs on the island of Heard Island and McDonald, a remote area between Australia and Antarctica, which has only penguins as residents, Loutnicko quoted Trump like, “Look, I can’t let any part of the world be where China or other country could be sent.”
(With Bloomberg inputs)
(Tagstotranslate) Trump
