Trump asserts that he has “solved inflation” in spite of the current market turbulence brought on by his imposition of international tariffs.
Trump took advantage of the most recent monthly consumer price report, which indicates a 2.4% inflation rate for March, while he was in the Oval Office on Monday meeting with El Salvador’s president, Nayib Bukele.
“Inflation is one of the issues we have already resolved. As a matter of fact, the numbers are astounding when you look at them. The market for stocks is up. Additionally, Trump told reporters, “We’re not allowing other nations to exploit this country as they have for the past 40 years.”
The tech giant Nvidia’s declaration that it will manufacture artificial intelligence supercomputers in the US for the first time was also used by the US President as proof that his tariffs were effective.
It’s one of the most significant things you will ever hear since, as you are aware, Nvidia controls nearly the whole industry, which is among the most significant in the world, including chips, semiconductors, and everything else. Trump added, “And they’re the biggest.”
“And the reason they did it is because of the election on November 5th and because of a thing called tariffs, as I said, the most beautiful word in the dictionary,” he continued.
After a tumultuous week in which his government reversed some of its most punitive tariffs, President Trump spoke.
Following Trump’s temporary easing of some tariffs, international stock markets witnessed gains Monday, and tensions inside the US bond market also seemed to ease.
After Trump said that laptops, cellphones, and a number of other electronic devices would not be subject to the most recent round of tariffs, Wall Street was bolstered by impressive results from Apple and other IT firms. By taking this action, possible price increases for American consumers on Chinese imports were avoided.
US importers, who would otherwise have to make the difficult decision of either passing on the higher costs to customers or bearing the financial burden themselves, are anticipated to profit from this exception.
Additionally, the US president has stated that he intends to temporarily exempt automakers from his tariffs.
Trump told reporters assembled in the Oval Office, “I’m looking at something to help some of the car companies with it.”
The car sector needs more time, he continued, to move its production back to the United States from nations like Canada and Mexico.
They require some time since they intend to get them here, but they require some time. That’s what I’m talking about,” he added.
As tensions in Trump’s trade war with China, the second-largest economy in the world, started to subside, global stock markets also recovered. In France, Germany, Japan, and South Korea, market indexes increased by 2.4%, 2.9%, and 1.2%, respectively.
