| March 10, 2025 08:35:56 AM |
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| March 10, 2025 08:35:56 AM |
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President Donald Trump is dismissing business concerns over the uncertainty caused by his planned tariffs on a range of American trading partners and the prospect of higher prices. We take a look at his latest comments.
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President Donald Trump walks down the stairs of Air Force One upon his arrival at Joint Base Andrews, Md., Sunday, March 9, 2025. (AP Photo/Luis M. Alvarez) |
Trump downplays business concerns about uncertainty from tariffs |
The president last week imposed and then quickly paused 25% tariffs on imports from Mexico and Canada that sent markets tumbling over concerns of a trade war. Trump said in a taped interview with Fox News Channel’s “Sunday Morning Futures” that his plans for broader “reciprocal tariffs” will go into effect April 2, raising them to match what other countries assess. Asked about the Atlanta Fed's warning of an economic contraction in the first quarter of the year, Trump seemingly acknowledged that his plans could affect U.S. growth. Still, he claimed, it would ultimately be "great for us.” The comments came after a week on Wall Street with wild swings dominated by tariff uncertainty and worries about the economy.
When questioned whether he was expecting a recession in 2025, Trump responded: “I hate to predict things like that. There is a period of transition because what we’re doing is very big. We're bringing wealth back to America. That's a big thing.” He then added, “It takes a little time. It takes a little time.
Trump brushed aside concerns from businesses seeking stability as they make investment decisions. He said that “for years the globalists, the big globalists have been ripping off the United States" and that now, "all we’re doing is getting some of it back, and we’re going to treat our country fairly." Read more.
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Of note:
More tariffs are coming this week, with Commerce Secretary Howard Lutnick telling NBC's “Meet the Press” that 25% tariffs on steel and aluminum imports will take effect Wednesday. Lutnick said Trump's threatened tariffs on Canadian dairy and lumber though would wait until April. |
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Trump's transactional diplomacy is a driving force on the world stage |
Politics and presidents to a certain degree are all transactional. But Trump, who helped make himself a household name by burnishing an image as an intrepid real estate dealmaker, is taking it to another level.
Money talks, and Trump on Thursday told reporters that he has decided to make Saudi Arabia the first overseas visit of his new term because the oil-rich kingdom has agreed to make a huge investment in the United States over the next four years.
“They’ve gotten richer, we’ve all gotten older. So I said, ’I’ll go if you pay a trillion dollars, $1 trillion to American companies,’” Trump said. He also made the kingdom his first overseas stop during his first White House term after the Saudis promised $450 billion in U.S. investment.
Trump is also keeping his eye on who appears to have the upper hand among other countries. In his dealings with Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin, Trump repeatedly said Putin has “the cards” and Zelenskyy does not.
Zelenskyy appeared to be making some strides in assuaging Trump after their recent rocky meeting in the Oval Office ended with Trump and Vice President JD Vance criticizing the Ukrainian leader for what they said was insufficient gratitude for the tens of billions of dollars in U.S. assistance provided in the three years since Russia invaded. Read more.
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Of note:
Zelenskyy later said how the meeting went down was “regrettable,” with Trump acknowledging Zelenskyy’s fence-mending efforts – only to go back to saying the Ukrainian leader doesn’t have the leverage to keep fighting the war with Russia. |
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Bernie Sanders steps into leadership of the anti-Trump resistance |
At 83 years old, Vermont Sen. Bernie Sanders is not running for president again. But the stooped and silver-haired democratic socialist has emerged as a leader of the resistance to Trump's second presidency.
In tearing into Trump's seizure of power and warning about the consequences of firing tens of thousands of government workers, Sanders is bucking the wishes of those who want Democrats to focus on the price of eggs or “roll over and play dead.” For now, at least, Sanders stands alone as the only elected progressive willing to mount a national campaign to harness the fear and anger of the sprawling anti-Trump movement.
He drew a crowd of 4,000 in Kenosha, Wisconsin, on Friday and faced another 2,600 or so the next morning a few hours away in Altoona, Wisconsin, a town of less than 10,000 residents. And Sanders’ crowd of 9,000 in suburban Detroit exceeded his own team's expectations, each stop intentionally designed in a swing U.S. House district represented by a Republican.
The voters who packed weekend venues composed a diverse group, including some who did not support Sanders’ past presidential campaigns. Most said that Democratic leaders have not done enough to stop Trump. Read more. |
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| Of note:
Sanders' team waited in the early weeks of the Trump presidency to launch what they are now calling his “stop oligarchy tour” to see if a high-profile Democrat would fill the leadership void.
“I’m not running for president and this is not a campaign,” Sanders told The Associated Press. “You gotta do what you gotta do. The country’s in trouble and I want to play my role.” |
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U.S. Rep. Hakeem Jeffries, D-NY, U.S. Rep. Maxine Waters, D-Calif., Rev. Al Sharpton, Rev. Jesse Jackson and NAACP President Derick Johnson, from left, march across the Edmund Pettus bridge during the 60th anniversary of the march to ensure that African Americans could exercise their constitutional right to vote, Sunday, March 9, 2025, in Selma, Ala. (AP Photo/Mike Stewart) |
- According to Commerce Secretary Howard Lutnick, 25% tariffs on steel and aluminum imports take effect Wednesday.
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