Early in his administration, President Donald Trump was criticized for placing a congratulatory call to Turkish President Recep Tayyip Erdoğan — an authoritarian leader. But now, the relationship appears to have gone sideways.
Amid a steep drop in Turkey’s currency, the Lira, the president announced on Twitter Friday that he has given the greenlight to sharply increased tariffs.
“I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Trump wrote. “Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!”
On Saturday, President Donald Trump praised his tariff plan and insisted, “steelworkers are working again, and big dollars are flowing into our Treasury.”
“Tariffs are working far better than anyone ever anticipated,” Trump tweeted out. “China market has dropped 27% in last 4 months, and they are talking to us. Our market is stronger than ever, and will go up dramatically when these horrible Trade Deals are successfully renegotiated. America First.”
Then in the first follow-up tweet, he added: “Tariffs have had a tremendous positive impact on our Steel Industry. Plants are opening all over the U.S., Steelworkers are working again, and big dollars are flowing into our Treasury. Other countries use Tariffs against, but when we use them, foolish people scream!”
He was not done yet.
A few minutes later, he tweeted again, writing, ” Tariffs will make our country much richer than it is Continue reading "Trump Insists Tariffs Will Make Our Country ‘Much Richer’: ‘Only Fools Would Disagree’"
Look, it’s hard talking politics on TV. You’ve got to have all of facts together, you need to make sure you’re articulating your points well…and then you have to make the best of things when accidents happen because of technological snafus.
Former Pennsylvania senator Rick Santorum had an accidentally-funny moment today on CNN while he was participating in a discussion about GOP midterm candidates rushing to fall in line with President Donald Trump‘s agenda. At one point, CNN anchor Poppy Harlow asked Santorum if that strategy would really work for candidates trying to get the vote from constituencies that have been hurt by the president’s tariffs.
Apparently, the feed for Santorum wasn’t coming in clear since he couldn’t tell Harlow was asking him about tariffs. And that’s when things fell apart.
President Donald Trump will be making a joint statement with European Commission President Jean-Claude Juncker after their White House meeting.
And based on multiple reports, it sounds like they’re going to have a big announcement on trade:
President Donald Trump defended his tariffs today in a speech to the VFW with multiple shots at the “fake news,” including a pretty remarkable line about how people shouldn’t believe any of it.
Trump said people shouldn’t “believe the crap you see from these people, the fake news” before defending the tariffs.
He talked about China, called the EU a “big abuser,” and then said, “But it’s all working out. And just remember, what you’re seeing and what you’re reading is not what’s happening.”
“What you’re seeing and what you’re reading is not what’s happening.”
You can watch Trump actually saying that above, via Fox News.
[image via screengrab]
Follow Josh Feldman on Twitter: @feldmaniac
It seems Donald Trump is prepared to take America’s trade wars up a notch, though not everyone agrees with his latest proclamation that “tariffs are the greatest!”
The president got back on the Twitter machine today to insist that trade negotiations are going just fine, despite all the recent tension with America’s trading partners.
Countries that have treated us unfairly on trade for years are all coming to Washington to negotiate. This should have taken place many years ago but, as the saying goes, better late than never!
CNBC anchor Joe Kernen interviewed President Donald Trump this week in an exclusive that aired on Squawk Box Friday morning, that focused heavily on the economy and only lightly on politics. During that interview, the President quintupled down on his tariff and trade war policy.
President Trump said he is “ready” to impose more tariffs on China to “level the playing field.”
“I’m ready to go to 500,” he said.
That’s $500 billion, and means the President is saying he’s prepared to impose tariffs on more imports than he already has.
The President began his explanation, in answer to a prompt from Kernen that the economy is “hot” right now, by suggesting his trade war and domestic economic policy are working.
“What I really am happy about is, a lot of cash is coming back in through the billions and trillions of dollars, as you know, that was overseas, Continue reading "Trump Tells CNBC He’s ‘Ready’ to Impose Tariffs on Every Chinese Good Imported to US"