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Donald Trump escalated global economic tensions on Friday, tackling a series of goals including the European Union, Federal Reserve and China, stating that he is ready to increase Chinese imports by $ 34 billion to cover the $ 505 billion. "I'm ready to go to 500," he said during a recorded interview with the CNBC commercial chain, an escalation that he was ready to make because "it was the right thing to do for our country "and because the rise in inventories – the S & P 500 is up 31% since its election – has allowed it to pursue a more aggressive trade policy.
Trump also turned to Twitter to predict that US soybean producers will emerge victorious from the US-China trade dispute.
"Farmers have been following a downward trend for 15 years.The soybean price has dropped 50% since 5 years prior to the election.A big reason is bad (terrible) Trade Deals with d. other countries, they have imposed huge tariffs and barriers, Canada charges 275% of milk, farmers will WIN! "
Trump's comments caused a slight decline in the Dow Jones Industrial Average before the stock market bell in New York, but then he shook the president's threat and again increased the strong earnings growth.
The US president is not limited to commenting on tariffs and trade, and he accuses China and the EU of manipulating currency.
"China, the European Union and others have manipulated their currencies and their interest rates the US is raising rates as the dollars get stronger and stronger every day that passes away, which takes away our competitive advantage. "
He adds:" As usual, no level playing field … "
The administration has ceased. honoring a campaign promise to officially designate China as currency manipulator, the president's approach to economic issues and what many experts perceive as the dangers of unforeseen consequences is raising concern in capital cities and territories. foreign central banks. [19659002] The President's latest financial comments are ahead of the visit of European Commission President Jean-Claude Juncker to Washington next week for talks on a US-European trade war. Juncker is expected to meet Trump on Wednesday. Angela Merkel, the German Chancellor who used her annual summer press conference to warn 25% of US tariffs on European cars and components for national security reasons, said Junker "will make suggestions on how we can enter
Trump threatened to impose a 25% duty on imported cars and components. A revision of the Commerce Department is underway to determine if this is justified by national security reasons.
Merkel noted that German automakers produce 400,000 cars a year in the United States that are exported. She pointed out that BMW's largest factory was not in Germany but in Spartanburg, South Carolina.
But, she said, "I do not fill myself with expectations or predictions" for Juncker's trip.
In a new violation of the established protocol, Trump redoubled his recent criticisms of the Federal Reserve 's decision to steadily increase interest rates this year.
In an apparent allusion to Fed rate increases, Trump "Tightening now hurts everything we've done Debt matures and we're raising rates – Really?"
Comments from Trump is a break with the tradition that presidents avoid commenting on the path of domestic monetary policy. Interest rates are considered the domain of the central bank, while the currency is considered the responsibility of US Treasury officials.
In June, he also broke the established protocol for sensitive economic data. Even before the announcement of the Ministry of Labor, some describe flagrant abuse of presidential power, as such figures usually have an impact on stock prices and bonds
. First criticized the series of Fed rate increases.
The Fed has raised interest rates five times since Trump took office, two of them coming this year under the presidency of Jerome Powell, Trump's choice to replace Janet Yellen. . Trump told CNBC that he feared that Fed policies would cancel his efforts to revive the economy.
"I'm not happy about that," said Trump. "I do not like all that work we put in the economy and then I see the rates go up," Trump said.
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