This article was originally published by Tyler Durden at ZeroHedge.
President Trump on Monday urged Americans not to panic over tariff-driven turmoil in the markets and said that “Countries from all over the World are talking to us.”
“The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!” Trump posted Monday morning on Truth Social about 15 minutes before cash open on US exchanges.
Ten minutes later, Trump posted that “Countries from all over the World are talking to us.”
Tariffs Bring Pain Without Gain
“Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other “things.” It all has to change, but especially with CHINA!!!”
Trump has insisted that tariffs are necessary to rebalance global trade and rebuild domestic manufacturing – singling out China as “the biggest abuser of them all” and has called on the Federal Reserve to lower interest rates.
In a Friday conversation, Federal Reserve Chair Jerome Powell didn’t give much of an indication on how the fed would react – suggesting only that the tariffs could increase inflation, and that “there’s a lot of waiting and seeing going on, including by us.”
Over the weekend, Trump suggested that the market turmoil was part of the plan, saying, “Sometimes you have to take medicine to fix something.”
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