'There is no inflation': Donald Trump doubles down on tariffs as market fell sharply
PTC News Desk: US President Donald Trump doubled down on tariffs and said that there was no inflation in the country even though the market fell significantly. Trump rather blamed past leaders for their economic policies which benefited other countries like China at the cost of America.
In response to the worldwide market meltdown, Trump said, “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place.”
He added, “This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate. They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past ‘leaders’ are to blame for allowing this, and so much else, to happen to our Country.”
Trump also called China the biggest abuser of them all and said that Chinese markets were crashing due to global economic slump.
Asian stock markets witnessed a massive plunge on Monday after US President Donald Trump announced a new round of tariffs. The markets opened with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth.
In Asia, Japan’s Nikkei index dropped more than 7 per cent in early trading. The broader Topix was down nearly 8 per cent. The Kospi in South Korea fell 4.8 per cent.
- PTC NEWS
