1 week Ago By Brigid Brown
Donald Trump’s newly enforced trade tariffs are having a grave effect on Wall Street , but rather than reconsidering the high rates, the President decided to give the US public a pep talk. Friday was reportedly the worst trading week since 2020 with the Dow Jones down by 2,200 points at closing. The Nasdaq and the S&P 500 also had a bad day, closing at 5.
8% and 5.9%, respectively. It’s not just the US, Trump ’s tariffs triggered a plunge in world financial markets, reports Reuters.
According to Trump, the US has been “the dumb and helpless whipping post” when it came to past trade deals, but “not any longer,” now that he’s in office. He concedes that it will be tough, but “the end result will be historic,” according to a post on Truth Social. Just because something goes down in the books does not necessarily mean it's a good thing as we may be heading into a recession , it's been predicted.
Trump wrote: “We have been the dumb and helpless ‘whipping post,’ but not any longer.” He touted: “We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN.
HANG TOUGH, it won’t be easy, but the end result will be historic.” He ended with his catch-phrase: “We will, MAKE AMERICA GREAT AGAIN!!!” DON'T MISS: Newsmax shares plunge nearly 80 percent after wild meme stock changed valuation Donald Trump own goal as tariffs 'could cost US households up to $4,200 a year' Global stock markets rattled by Trump tariff announcement While the President is shouting from the rooftops that the trade tariffs will pay off in the long run, his "friend and adviser" Elon Musk was speaking to Italy’s League leader Matteo Salvin about why they won’t work. The Tesla CEO doesn’t agree with the tariffs that Trump has put in place and would prefer to see a “zero tariff situation.
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