Members of the US government have defended America’s U-U-turn in trading policy with the imposition of the highest import duties since the 1940s and subdued hopes that the tariffs could only be short-term or even to be postponed. It was neither to be reckoned with a recession nor by the fact that American consumers feel the tariffs. The government officials are obviously trying to appease their population, according to surveys in the majority rejects high tariffs. The nervousness increases after the stock markets had to accept one of the worst price losses after the Second World War. The stock exchanges only recorded larger burglaries in 1987, in the financial crisis and during pandemic. Course losses within two days added up to six trillion dollars. Bank economists now warned of an impending recession. Finance Minister Scott Bessent, on the other hand, said there was no reason for investors to calculate a recession. In addition, short -term market movements are less relevant to investors than the fact that the oil price has dropped. However, this is also interpreted by economists as a crisis signal, and some Trump supporters warning hedge fund managers Bill Ackman, a close supporter of President Donald Trump, also advised to push up their tariffs. “If we do not do this, there is a risk that the economy will fall into a possibly severe recession due to the massively increased uncertainty.” Minister of Commerce Howard Lutnick, one of the most important propagandists of Trump’s Protectionist course, made it clear: “There is no shift”. According to Trump’s business advisor Kevin Hassett, more than 50 countries tried to take negotiations with the US government to postpone or reduce the tariffs. Vietnam went the most. With the Southeast Asian country, the United States has the largest trade deficit in China and Mexico. It offered to delete all tariffs to US imports after Trump announced a delivery of 46 percent. This emerges from a letter from the Vietnam Communist Party of April 5, from which Bloomberg quotes. Trump’s trade advisor Peter Navarro gave the country little hope: Vietnam cheated on so -called trade barriers and serves as a platform for Chinese exports that were so duties to avoid. External content activate Hassett evaluated the states’ advance that they were aware that they themselves had to bear the costs of the tariffs. Therefore, American consumers would not feel little of the tariffs. Investigations from Trump’s first term, however, showed that consumers carried the tariffs to imports almost completely. Thousands of dollar loss and the new customs round has another dimension: The tariffs announced by Trump on April 2 will increase the average effective US customs set from 2.5 percent in 2024 to around 22.5 percent, the Yale Budget LAB calculated. In combination with the tariffs imposed by Trump in February and March, this will lead to a loss of purchasing power of $ 3,800 for an average household. The tariffs are in force because Trump sees national security at risk through high trade deficits. Lutnick repeated the president’s interpretation, who sees in trade deficit deficit activities at work. Trump, meanwhile, tried first perseverance: “This is an economic revolution, and we will win. It will not be easy, but the final result will be historical,” he wrote on Truth Social. He pointed out that companies have already announced investments in the trillion height in the United States. Musk for the same welfare is the first cracks in the government camp. This is how Trump’s confidante Elon Musk Trump’s trade advisor Peter Navarro, who is considered one of the architects of trade policy. Before a meeting of Italian politicians, he said that he wanted more and no less free trade. When an X-user Navarro praised and pointed out that he had a doctorate in economics from Harvard University, Musk replied: “A doctorate in economics from Harvard University is a bad thing, not a good thing.” When another X-user Navarro defended, Musk replied that he had built nothing. Navarro struck back because of Musk’s statements and pointed out that the production companies of the Tesla CEO would probably suffer a significant blow under the new customs regime. “Elon is great when he is on his dog lane, but we understand what is going on here: Elon sells cars, he simply protects his own interests.”
