China and warning, it will come at a cost to Americans. Another day of whiplash on Wall Street. The Dow closing down more than 1,000 points, reversing about a third of yesterday’s historic gains. It is down 6.2% since President Trump announced new tariffs last week, and today the president hinting the worst is not over.
“There will be a transition cost and transition problems. But in the end, it will be a beautiful thing.”
Just 24 hours after he said people’s nervous reactions to the market prompted his abrupt pause on most of the tariffs.
“People were jumping a little bit out of line. They were getting yippy, you know. A little bit yippy, a little bit afraid.”
Tonight investors showing they are still worried about the growing trade war with China, with the White House clarifying, it will now total 145%.
“We’ll see what happens with China. They’ve really taken advantage of our country for a long period of time. They’ve ripped us off beyond anybody. All we’re doing is putting it back in shape.”
Today the Treasury Secretary insisting what he sees in the market is not unusual. That allies are calling to make deals to lower their trade barriers on American companies.
“We will end up in a great certainty over the next 90 days on tariffs. We have very good inflation number today.”
That bright spot, consumer prices fell in March from the month before, bringing the inflation rate to 2.4%. Better number than expected. For so many small businesses, it is the ongoing terminal over tariffs that is having the biggest impact.
“Your little small business that you love to walk to, we’re really going to be hurting.”
Kate Nelson owns the Greenwood Shop in California and on Instagram where she sells goods from all over the world. She said she’ll hold off ordering from China for now. All other imports still face that baseline 10% border tax.
“We have Mother’s Day coming up. Mother’s Day, for small business, is basically mini Christmas. And we are all terrified that our mini Christmas is not going to happen.”
“I know you have some new reporting about some of the deals the president is trying to cut with these other countries?”
“A couple of the president’s advisers saying there are about 15 countries made offers. They’re going to present those to the president. No movement on the…”
Source: raialkhalij + aljazeera