As fears of a global recession mount and stock markets continue to slide, US President Donald Trump has one simple message for Americans: “BE COOL!”
Trump attempted to calm nerves after US markets opened in the red for the fifth straight session, following four consecutive days of steep declines.
Posting on Truth Social just minutes after the markets opened, Trump assured investors that “everything is going to work out well” and encouraged them to view the market turmoil as a buying opportunity.
“THIS IS A GREAT TIME TO BUY!!!” he added confidently.
The president’s remarks come amid escalating tensions around his newly imposed tariffs, which took effect earlier this week.
In a fiery speech at the National Republican Congressional Committee Dinner in Washington, Trump claimed that world leaders are eager to strike trade deals with the US to avoid the harsh economic fallout.
“These countries are calling us up, kissing my a**,” Trump said, theatrically mimicking foreign leaders begging for concessions.
“They are dying to make a deal. ‘Please, please, sir, make a deal. I’ll do anything, sir,’” he added.
On April 2, Trump announced sweeping tariffs targeting a wide range of imported goods, with massive 104 percent duties specifically on Chinese products.
The new trade barriers officially kicked in Wednesday morning, setting off a fresh wave of global market volatility.
Besides China, dozens of other countries, along with the European Union, are now subject to tariffs ranging between 11 percent and 50 percent.
The impact was immediate across Asian financial markets. Japan’s Nikkei 225 index plunged over 5 percent, while the broader TOPIX index slid 4.6 percent.
In Hong Kong, the Hang Seng index dropped 4.3 percent, and Taiwan’s stock market tumbled by more than 5.7 percent.
Investors, already anxious about slowing global growth, responded swiftly to the trade uncertainty and the rising risk of a full-blown global trade war.
Adding to the turbulence, Trump revealed plans for additional tariffs targeting pharmaceutical imports.
“We’re going to tariff our pharmaceuticals, and once we do that, they’re going to come rushing back into our country because we’re the big market,” he said.
Analysts warn that such moves could further disrupt global supply chains and fuel inflationary pressures at home.
Meanwhile, investors are grappling with the possibility of prolonged economic weakness.
With global leaders threatening retaliatory tariffs, fears of a prolonged trade war are intensifying.
Financial experts say this could drag down consumer spending, squeeze corporate profits, and slow economic growth even further.
Despite Trump’s reassurances, markets remain on edge. Analysts caution that the combination of aggressive tariffs, geopolitical tensions, and tightening financial conditions could push the global economy closer to recession territory.
As the situation unfolds, traders are closely watching the next moves from both Washington and major economies like China and the EU.
For now, Trump’s advice to “be cool” may not be enough to soothe battered markets.
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