Following Donald Trump’s so-called“Reciprocal tariff” executive order on April 2, US stocks had their worst few days in about five years.
On April 7, the first day of the new week for U.S. stock markets, the opening of U.S. stock markets immediately kicked off the“Black Monday”. Within 10 minutes, the three major stock indexes in New York all fell more than 3% .
On the market generally continue to bearish situation, a”90-day suspension of tariffs” news will be forced”Falling” U. S. stocks pull back.
However, the news was eventually identified by the white house as“Fake News”, the U. S. stock market has subsequently turned down again.
U. S. stock market is rescued by”Fake news”
On April 7, several U.S. media outlets reported that White House National Economic Council director Kevin Hasset said President Donald Trump is considering suspending tariffs for 90 days on some countries.
stocks, which had plunged at the start of trading, rallied on the news, with the S & P 500 alone surging 8.4 percent in 34 minutes on the news.
The S & p 500 index surged 8.4 percent in 34 minutes after a sharp drop in the opening bell Monday because of“Fake news.”.
The S & p 500 index surged 8.4 percent in 34 minutes after a sharp drop in the opening bell Monday because of“Fake news.”.
However, it was later verified that Hassert’s exact words in an interview with the Fox News Channel on the same day were”The president will make the decisions he has to make.”, it is not clear that”Donald Trump is considering suspending 90-day tariffs on some countries”. White House press secretary Carolyn Levitt called it”Fake news.”. As a result, the U. S. stock market once again from up to down.
Although the“Fake news” had some effect on the stock market, as of the close of the 7th, the three major stock indexes did not show widespread closing gains. Only the NASDAQ edged up 0.1% , while the S & p 500 index fell 0.23% , the Dow fell 0.91 percent.
The website of the Financial Media Business Insider, after the US stock market fluctuated violently due to“Fake news” on the 7th, gave the following comments: the sharp fluctuations in the stock market on Monday show that, how eagerly investors are seeking Donald Trump’s turnround.
“Sydney Morning Herald” also believes that the day of the stock market volatility showed investors eager to see Donald Trump can relax its tariff policy signs.
EU plans two counter-measures against us
It is expected to take effect this month and on the 15th of next month
Meanwhile, in response to Donald Trump’s tariffs, the EU’s long-mooted countermeasures have finally been unveiled.
On April 7, local time, European Commissioner for Trade and Economic Security Sergeyevich officially announced the European Union’s counter plan, it said the EU is prepared to use“All means of trade defense” to deal with the impact of US tariffs. The first round of countervailing tariffs against the US will be implemented on April 15, and the second round will be implemented on May 15.
It was stated that the European Commission’s programme of countermeasures would be adopted as long as it was not opposed by 15 member states representing 65 per cent of the population of the European Union.
Donald Trump prescribes tariffs
Neither Americans nor investors are buying it
President Donald Trump took to social media on the 7th to point to the fact that many countries have discussed tariffs with him as an achievement.
President Donald Trump took to social media on the 7th to point to the fact that many countries have discussed tariffs with him as an achievement.
However, according to Donald Trump’s latest statement on the 7th, Donald Trump has not wavered in its determination to continue to impose tariffs. ‘the European Union treated us badly, ‘ Mr. . Donald Trump said again in a Benjamin Netanyahu with the visiting Israeli Prime Minister after the European Union unveiled its countermeasures, blaming European countries for not buying enough American goods.
On the 7 th, Donald Trump met with the visiting Benjamin Netanyahu.
On the 7 th, Donald Trump met with the visiting Benjamin Netanyahu.
Donald Trump also took to social media the same day to discuss tariffs with the Japanese prime minister, insisting that his country was taking advantage of the US in the auto trade. Later in the day, Donald Trump and the Benjamin Netanyahu’s press conference, he said that the Japanese need to open up the market.
Earlier, Donald Trump compared tariffs to medicine for the US and vowed: “I don’t want any stock to go down, but sometimes you have to take medicine to fix things.”
Internet users didn’t buy Donald Trump’s comparison of tariffs to“Bitter medicine” that caused market chaos.
“Good medicine? It’s poison.”
Donald Trump, some netizens said bluntly, said it was easier said than done. “He’s not the one who has to take medicine.”.
“He is the one who should take some medicine,” another user quipped.
Even so, United States Secretary of the Treasury Bessent has opted to stick with Donald Trump, saying yesterday that changes in the stock market would not have a serious impact on the fortunes of ordinary Americans.
According to United States Secretary of the Treasury Besant, zero per cent of Americans are not on the market, so they will not be badly affected by the volatility.
But the facts contradicted Besant’s claims. Some 62% of American adults own stocks, according to Gallup, a pollster.
In addition, there are U. S. Media pointed out that the recent U. S. stock market crash in the post-world War II history of the United States is extremely rare.
American media have gone back in time and found that, of all the presidents, the current one is Donald Trump, except for Bush Bush in 2001, when the S & P 500 fell 15% after he inherited the bull market. But the Bush Bush crash was the dot-com bust. Only Donald Trump, thanks to his self-imposed tariffs, left the S & P 500 down 15% after inheriting the bull market.
Who is hurt by US Tariff Policy?
Donald Trump has a full schedule of“Revenue-producing items” even as US tariffs wreak havoc in the markets.
stocks fall as president scrambles to generate revenue
“Just as the financial collapse was unfolding, the Donald Trump family’s cash register rang,” read a New York Times article yesterday.
As recently as last weekend, Donald Trump was swinging at a saudi-sponsored golf tournament at his family’s Dólar golf resort in Florida, the article said, a private dinner at mar-a-lago on the grounds of“Political fund-raising”.
Tickets to the golf tournament, which sell for up to $1,400, were quickly sold out, and Donald Trump’s pricey meal cost him just an hour or two, raised as much as $20 million.
“Everything here is about money,” Terri Davis, an American entrepreneur, was quoted as saying. “That’s what it’s all about
Infighting in the White House
Musk blasts White House trade adviser
Donald Trump’s tariffs have rattled markets and decimated the net worth of wealthy Americans. Donald Trump, the head of the US government’s efficiency department and the world’s richest man, was also finally“Tempted” to criticise Mauricio Navarro, Donald Trump’s chief trade adviser and a supporter of tariffs.
In the U.S. stock market crash on April 3 and 4, the seven largest U.S. tech stocks lost $1.6 trillion in market value, and tech billionaires saw their fortunes plummet. According to data from Bloomberg’s rich list on the 6th, Musk’s net worth fell by more than $30 billion in the past two days, bezos, founder of Amazon, and Mark Zuckerberg, founder of Yuan, the world’s second-and third-richest man, also lost $23.5 bn and $27.3 bn respectively. More than $80bn has been wiped off the combined net worth of the world’s three richest people in the past two days.
Musk chose not to criticise Donald Trump personally, but focused his fire on Mauricio Navarro, one of the main architects of the new tariffs. On April 5, Elon Musk said on social media platform“X” that it was a bad thing that Mauricio Navarro had a phd in economics from Harvard University, and that it was leading people to lack wisdom because of their egos.
In an online appearance at a party event in Florence, Italy, on April 5th, Elon Musk called on Europeans and Americans to move towards zero tariffs, effectively creating a transatlantic free trade area, it also facilitates the movement of people.
Mauricio Navarro shot back at Musk:
You’re a car salesman
Mauricio Navarro hit back at Elon Musk in a Fox News Channel interview yesterday.
Mauricio Navarro, the White House trade adviser, responded to Musk’s attack by describing Elon Musk as a businessman acting on his own behalf, not caring about the American auto industry. “We’re more concerned with having Detroit factories making american-branded cars with American engines,” Mauricio Navarro said in a rejoinder to Elon Musk