By FATIMA HUSSEIN and CHRIS MEGERIAN
WEST PALM BEACH, Fla. (AP) — Two days after sending the financial system reeling by saying widespread tariffs, President Donald Trump insisted his commerce insurance policies won’t ever change as he remained ensconced in a bubble of wealth and energy in Florida.
He awakened on Friday morning at Mar-a-Lago, his personal membership in Palm Seaside, and headed to his close by golf course a number of miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”
A number of supporters stood on the sidewalk as Trump, sporting his signature purple “Make America Nice Once more” hat and white polo shirt, glided down a avenue lined with palm timber. They waved to him and he waved again, a part of a ritual that performs out each weekend that he’s on the town.
The Republican president was not anticipated to look publicly, though he’s scheduled to attend a candlelit dinner for MAGA Inc., an allied political group, on Friday night. He spent Thursday in Miami at a distinct one in every of his golf programs, the place he attended a Saudi-funded event. He landed in Marine One and was picked up in a golf cart pushed by his son Eric.
Trump has typically proved impervious to the form of scandals or gaffes that will harm one other politician, however his resolution to spend the weekend at his gilded properties may take a look at People’ endurance at a time when their retirement financial savings are evaporating together with the inventory market. The tariffs are anticipated to extend costs by 1000’s of {dollars} per 12 months and sluggish financial development, and there are fears about a possible recession.
Federal Reserve Chair Jerome Powell mentioned Friday that the tariffs have been “considerably bigger than anticipated” and are “extremely probably” to trigger extra inflation — a minimum of within the brief time period however probably in the long run as effectively.
Nevertheless, Trump has described his insurance policies as a painful but crucial step to encourage corporations to relocate their operations to america, and he spent the morning defending himself on Reality Social, his social media platform, vowing he’s sticking together with his insurance policies.
Though specialists have harshly criticized Trump’s tariffs, he’s discovered some help on TikTok. He shared a video that mentioned “Trump is crashing the inventory market” and “he’s doing it on goal” as a part of a “secret sport he’s enjoying, and it may make you wealthy.”
The aim, the video mentioned, is to push the Federal Reserve to decrease rates of interest, one thing that Trump explicitly known as for later within the morning.
“This could be a PERFECT time” for Powell to chop rates of interest, he wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
With overseas leaders scrambling in response to Trump’s announcement this week, the president lashed out and regarded to chop offers.
He mentioned he spoke with Vietnamese chief To Lam and claimed Vietnam needs to get rid of its tariffs on U.S. items if it may make a cope with the U.S.
He additionally criticized China for saying its personal tariffs on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!” he wrote.
Republicans advised that Trump’s insurance policies can be the beginning of a parley with overseas international locations.
“The president is a dealmaker if nothing else, and he’s going to proceed to deal nation by nation with every of them,” mentioned Sen. John Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had informed Senate Republicans this week that the tariffs can be a “excessive degree mark with the final word aim of getting them lowered” until different international locations retaliate.
Senate Democratic chief Chuck Schumer of New York known as Trump’s tariffs “a brutal pincer transfer with American households trapped within the center.”
In the meantime, Trump additionally celebrated a brand new report displaying the U.S. added 228,000 jobs in March, beating expectations. Though the numbers have been a snapshot of the financial system earlier than the tariff announcement, Trump claimed vindication, saying they already present his strikes are working.
“HANG TOUGH,” he wrote. “WE CAN’T LOSE!!!”
Megerian reported from Washington. Related Press author Stephen Groves contributed to this report from Washington.
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