Egypt Daily News – On Monday, U.S. President Donald Trump turned to social media to claim that the United States is in a better economic position, despite the significant decline in both U.S. and global markets.
He wrote in a post on “Truth Social and X”: “Oil prices are down, interest rates are low (though the Federal Reserve is slow to cut rates!), food prices are down, inflation is stable, and the United States, which has been mistreated for so long, is now making billions of dollars every week from countries that took advantage of it through tariffs already imposed.”
The U.S. president claimed that the country would earn billions from tariffs imposed on other nations, while the stock market is experiencing the worst start to a presidential term in modern history, according to CNN.
He continued in his post: “This is despite the fact that the biggest offenders ever, China, whose markets are collapsing, just raised their tariffs by 34%, in addition to their absurdly high long-term tariffs, ignoring my warning to the countries that exploited us by not responding. They’ve made enough over the decades, exploiting the United States! The blame lies with our past leaders for allowing this to happen to our country. Make America Great Again!”
Asian markets sharply declined on Monday, driven by Trump’s trade war and China’s strong reaction to increased tariffs.
Speaking aboard Air Force One on Sunday evening, he said he didn’t want “anything to drop,” but emphasized that “sometimes you have to take medicine to fix something,” as his administration sent mixed signals about whether its trade policies were open to negotiation.
