WEST PALM BEACH, Fla. (AP) — Two days after sending the financial system reeling by announcing widespread tariffs, President Donald Trump insisted his commerce insurance policies won’t ever change as he remained ensconced in a bubble of wealth and energy in Florida.
He wakened on Friday morning at Mar-a-Lago, his personal membership in Palm Seashore, and headed to his close by golf course just a few miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”
A number of supporters stood on the sidewalk as Trump, sporting his signature crimson “Make America Nice Once more” hat and white polo shirt, glided down a avenue lined with palm bushes. They waved to him and he waved again, part of a ritual that performs out each weekend that he’s on the town.
The Republican president was not anticipated to seem publicly, though he’s scheduled to attend a candlelit dinner for MAGA Inc., an allied political group, on Friday night. He spent Thursday in Miami at a special one in all his golf programs, the place he attended a Saudi-funded tournament. He landed in Marine One and was picked up in a golf cart pushed by his son Eric.
Trump has typically proved impervious to the type of scandals or gaffes that will injury one other politician, however his determination to spend the weekend at his gilded properties might take a look at Individuals’ persistence at a time when their retirement financial savings are evaporating along with the stock market. The tariffs are anticipated to extend costs by 1000’s of {dollars} per 12 months and gradual financial progress, and there are fears about a potential recession.
Democrats known as out Trump for being in a “billionaire bubble,” as Sen. Chuck Schumer put it, whereas thousands and thousands watched their investments sink.
“Whereas the American individuals are making an attempt to place meals on the desk, I see that Donald Trump’s on the market enjoying golf,” stated Sen. Ben Ray Luján, a Democrat from New Mexico. “The president must be listening to folks throughout the nation. Possibly he ought to go right into a grocery retailer, do some strolling, speaking to people.”
Federal Reserve Chair Jerome Powell stated Friday that the tariffs have been “considerably bigger than anticipated” and are “highly likely” to trigger extra inflation — no less than within the quick time period however presumably in the long run as properly.
Nevertheless, Trump has described his insurance policies as a painful but crucial step to encourage corporations to relocate their operations to the US. Treasury Secretary Scott Bessent advised Tucker Carlson in an interview launched Friday that “I believe we now have to do that, and I’ve a excessive confidence ratio it’s going to work.”
The president spent Friday morning defending himself on Truth Social, his social media platform, and vowing to remain the course.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote.
Though specialists have harshly criticized the tariffs, he’s discovered some help on TikTok. He shared a video that stated “Trump is crashing the inventory market” and “he’s doing it on goal” as a part of a “secret sport he’s enjoying, and it might make you wealthy.”
The video featured a supposed quote from legendary investor Warren Buffett praising Trump, however Buffett’s firm issued a press release saying it was fabricated. The video additionally stated that Trump’s aim is to push the Federal Reserve to decrease rates of interest, one thing that the president explicitly known as for later within the morning.
“This is able to be a PERFECT time” for Powell to chop rates of interest, he wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
With overseas leaders scrambling in response to Trump’s announcement this week, the president lashed out and regarded to chop offers.
He stated he spoke with Vietnamese chief To Lam and claimed Vietnam needs to eradicate its tariffs on U.S. items if it could possibly make a take care of the U.S.
He additionally criticized China for saying its personal tariffs on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!” he wrote.
Republicans instructed that Trump’s insurance policies can be the beginning of a parley with overseas international locations.
“The president is a dealmaker if nothing else, and he’s going to proceed to deal nation by nation with every of them,” stated Sen. John Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had advised Senate Republicans this week that the tariffs can be a “excessive stage mark with the final word aim of getting them decreased” until different international locations retaliate.
In the meantime, Trump additionally celebrated a brand new report exhibiting the U.S. added 228,000 jobs in March, beating expectations. Though the numbers have been a snapshot of the financial system earlier than the tariff announcement, Trump claimed vindication, saying they already present his strikes are working.
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“HANG TOUGH,” he wrote. “WE CAN’T LOSE!!!”
Megerian and Groves reported from Washington.
