White House bats down tariffs doubts on Liberation Day eve – Washington Examiner
The article discusses the recent statements made by the Trump management regarding the forthcoming “Liberation Day,” during which proposed tariffs are set to be announced. white House Press Secretary Karoline Leavitt asserted that concerns about the tariffs leading to a depressed stock market and higher consumer prices are unfounded, insisting that the administration’s strategy is effective. Despite recent turbulence in the stock market, which experienced its worst quarter as 2022, Leavitt maintains confidence in Wall Street’s resilience.
She emphasized that the administration is focused on reducing living costs, blaming inflation on prior government spending and regulations. Additionally,she noted potential retaliatory actions from countries like China,Japan,and South Korea but encouraged domestic production to mitigate tariff impacts. Leavitt stated that any announcements made by Trump regarding tariffs on Wednesday would take effect immediately, suggesting that those who manufacture in the U.S. would not face such tariffs.
White House bats down tariff doubts and stock market jitters on Liberation Day eve: ‘Going to work’
President Donald Trump‘s administration swatted down suggestions that his proposed “Liberation Day,” when sweeping tariffs will be unveiled on Wednesday, would lead to a depressed stock market and increased prices for the public.
“They’re not going to be wrong. It is going to work,” said White House press secretary Karoline Leavitt during a Tuesday press briefing.
“And the president has a brilliant team of advisers who have been studying these issues for decades, and we are focused on restoring the golden age of America,” Leavitt continued.
The uncertainty of Trump’s proposal of reciprocal tariffs on the nation’s trading partners and a flat 20% tariff rate has shaken the financial stock market.
On Monday, the S&P 500 and the Nasdaq Composite had their worst quarters since 2022, but on Tuesday, the S&P 500 rose 0.1% while the Nasdaq Composite rose 0.6%.
However, Leavitt claimed that “just like they were in his first term, Wall Street will be just fine” when discussing the stock market.
Business owners and economists have warned that tariffs will be passed on to consumers through higher prices, which Leavitt was questioned about.
“The president is doing everything he can, and this entire administration is doing everything we can, to bring down the cost of living in this country, an inflation mess that was fueled by the previous administration’s reckless spending, [and] over-burdensome regulations that this administration is focused on slashing every single day,” Leavitt responded.
Other foreign nations claimed they would retaliate against the United States, with China, Japan, and South Korea saying in a joint statement that they would push back against Trump’s actions.
The White House remains unimpressed, with Leavitt saying the best way to avoid tariffs is to build products in the U.S.
“I would point you to the investments that have already trickled into this country, and the president hasn’t even made his tariff announcement yet tomorrow,” said Leavitt. “There have been billions of dollars in private investments from around the world pouring into American communities.”
Leavitt’s statements reflect Trump’s repeated claims that countries that invest in the U.S. will not see negative consequences.
WHAT TO KNOW ABOUT ‘LIBERATION DAY’ AS TRUMP PREPARES TO TARIFF THE WORLD
“It’s simple. If you make your product in America, you will pay no tariffs,” said Leavitt.
Leavitt also said that whatever tariff announcement Trump makes during Wednesday’s Rose Garden event “will be effective immediately.”
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