President Donald Trump on Wednesday acknowledged that his sweeping tariffs were at a political risk but said he would not rush to trade deals to calm the nervous investors.
During a Newsnation The Town Hall meeting enabled by Bill O'Reilly, asked Trump if the duties he threatened with foreign goods suffered from a “Understanding Problem.”
“Yes,” he replied. “But I'm an honest person, and we have to save the country.” The president confirmed the strategy could cost control of the House of Representative's Republicans in the November Midterm election, but insisted he would continue ahead. “I'm just thinking that I can convince people how good it is,” he said.
Comments followed an estimate by the Bureau of Economic Analysis that shows the US economy at the beginning of the year for the first time since 2022. The report cited the flood of pre-tariff imports and lower federal expenditures. A release of ADP research on the same morning said April's rent fell into forecasts, joling on Wall Street.
Many investors want fast trade movements, but Trump told viewers that he is “less rushing” than the market. He said the understanding of the understanding existed in South Korea, Japan and India, even though he warned the announcements would not come overnight. “We are sitting in a cat's bird seat. They like us. We don't need to,” he declared, adding that India wanted to “make a bad deal.”
In China, Trump says there is a “very good chance” of a conclusion, but only “in our terms and it should be fair.” When O'Reilly suggested that the agreements confirm a stock rally, the president replied that the packages were “potential deal,” adding, “that's okay, it can wait two weeks.”
Trump admits that his tariff playbook is hard to explain because he often opens with the hardest line, then returns. “You can't be a hard line, and I'm going to run right on a wall and I'll never go around or around it, I'm going straight – you have to dodge and move,” he said.
Officers make sure
US trade representative Jamieson Greer said Fox News That an initial group of agreements is “week and not moon” away. “I will say we have deals nearby,” Greer said. He emphasized that he was talking about a “first tranche” of trading packages, not the entire agenda.
Greer said negotiations in India are not “ending the line,” even though he regularly speaks to the lead envoy of New Delhi. He hopes to meet South Korea's “relatively close,” which describes those conversations as “going in the right direction.”
On Thursday, he planned sessions in Japan, Guyana and Saudi Arabia, followed by a meeting with representatives from the Philippines. Administration officials said Asian partners engaged in advance could see their agreements announced first.
The trade envoy also called the newly elected Prime Minister of Canada Mark Carney, a “serious man” and said his office was willing to get involved once Carney visited Washington.
Trump spent part of the day defending his economy and blaming the GDP slide to former President Joe Biden. “This is Biden's economy,” he told twelve -two business leaders in the White House before added, “We have happened a lot since November 5.”
Executives from General Electric, Hyundai Motor, Toyota Motor, Johnson & Johnson, Eli Lilly, Nvidia, and Softbank attended the event, featuring capital spending on Trump's first 100 days in the office.
The S&P 500 has dropped more than 8 percent since the day of the inauguration, and the consumer's confidence in April fell to a near -five low -year -old. However, Trump has argued that his tariffs are walking a “unimaginable” in domestic manufacture.
“Every new factory and every new job created is a sign of strength in the American economy and an expression of American future trust,” he said as the meeting was wrapped.
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