U.S. President Donald Trump on Saturday (5/4) called on Americans to endure temporary economic hardships caused by the administration's tariff policies, promising that the end result would bring "historic" economic prosperity.
"THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HOLD ON, it won't be easy, but the end result will be historic," Trump wrote on the Truth Social platform.
The US stock market closed the weekend with significant declines, as the trade war heated up after Trump announced the implementation of reciprocal tariffs globally.
Trump claims his economic policies have sparked massive economic activity. “We’re bringing jobs and businesses back like never before,” he said.
He also said that China is suffering more from the escalating trade tensions. "China is being hit much harder than the U.S., not even comparable," Trump said.
On Friday, Trump called China “panicking” after it imposed retaliatory tariffs of 34 percent on all US imports, matching the 34 percent tariffs Washington had imposed earlier on Wednesday.
Trump justified his aggressive trade stance by pointing to the current trade imbalance, and reiterated that other countries have treated the US “very badly and unsustainably.”
“We have been stupid and helpless ‘easy targets’, but not anymore,” he stressed.
Trump has consistently described the current economic conditions as a time of transformation, even recently calling it “the best time to get rich,” while pushing policies that emphasize strengthening domestic manufacturing.
His administration says reciprocal tariffs are essential to revitalizing American industry and attracting large amounts of foreign investment.
“Already over FIVE TRILLION DOLLARS IN INVESTMENT, and growing rapidly,” Trump claimed.
Source: Anadolu
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