Trump says it's the 'perfect time' for Powell to cut rates as markets plummet after his shocking tariff announcements

Key Points

  • President Trump defended his tariff policies and called for interest rate cuts on Truth Social.
  • The March jobs report exceeded expectations, adding 228,000 jobs, which Trump praised as a result of his policies.
  • Trump announced new tariffs affecting 185 countries, with rates varying from 10% to 54% for different nations.
  • China retaliated with a 34% tariff on all US goods, exacerbating market volatility.
  • Stocks plummeted, with the Dow Jones Industrial Average dropping significantly due to the tariff war and comments from Fed Chair Powell.

Summary

President Trump took to Truth Social to defend his tariff policies, urging Federal Reserve Chairman Jerome Powell to cut interest rates amidst market volatility. He highlighted recent economic successes, including a robust jobs report for March, which added 228,000 jobs, far surpassing expectations. Trump's aggressive tariff stance was further solidified with the announcement of new tariffs impacting 185 countries, with rates ranging from a 10% baseline to a 54% total tariff on Chinese imports. This move prompted immediate retaliation from China, which imposed a 34% tariff on all US goods, intensifying the trade war. The financial markets reacted sharply, with major indices like the Dow Jones Industrial Average experiencing significant drops. Trump's comments and the ongoing tariff disputes have led to increased economic uncertainty, with investors and analysts closely watching the unfolding situation.

yahoo
April 4, 2025
Stocks
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