“The Wall Street Wolf” says of Trump’s tariff, as the fears of the trade war say exaggerated

It has rocked the most recent tariff for President Donald Trump on the main commercial partners and has been criticized by political opponents. But the entrepreneur, Jordan Balfour, known as “Wall Street Wolf”, says there is no reason to panic.

“Everyone takes advantage of us,” Balfour on “Ali”Fox & Friends, “ In claiming that the definitions will eventually enhance American manufacturing.

“There will be corrections in the market. So, I think you need to look at this and say, well, what is this customs tariff for the long -term health of the economy? Because this is what really pays a long -term value in the stock market.”

The stock market achieved great success on Thursday, with Close the S&P 500 in the correction area, As concerns about the potential trade war continued. Despite the market’s reaction, Trump remained steadfast, as White House correspondents told that he “will not bend at all” on customs duties. When asked if he would reconsider the latest group to intervene on April 2, he answered with a company, “No.”

The Trump A Plan includes 25 % tariff On steel and aluminum imports, along with a proposal A 200 % tariff On European champagne and other alcohol products. The move prompted a rapid violent reaction from American trading partners, including Canada, China and the European Union. Canada has already averaged by its additional tariff for the United States, and pledged not to retreat from the escalating trade war.

Trump bothering the definitions against Mexico, Canada may rise in the future

The President described the customs duties as a way to restore the American economic power, saying that the country has lost the jobs of wealth and manufacturing for decades.

“We will restore our wealth, and we will restore many companies that have left,” Trump said on Wednesday.

Balfour has repeated this feeling, on the pretext that restoring local production is crucial to the country’s long -term stability.

“You can only be a consumer nation,” he said.

Canada announces 21 billion dollars in the new US definitions with the escalation of the trade war

“It seems as if you were a 50 -year height. At some point, wealth is bleeding outside the country.”

Critics warn that definitions can cause more harm than benefit. Many economists argue that commercial wars increase the costs of consumers, collect relations with allies, and may slow global economic growth. Some business leaders fear the revenge definitions of other countries that hurt American exports, especially in industries such as Agriculture and manufacturing.

Although uncertainty, Balfour is still optimistic.

“I think the only people who feel panic are likely, as you know, CNBC is trying to make everyone panic,” he said.

“We continue to lose the trade deficit. Over time, this causes tremendous problems in the United States. It must be reset.”

Balfurt said that Trump’s critics will oppose any policy trying to implement it.

“Whatever he does, they will say they hate it, it’s the worst thing in the world.” … you start ignoring it.

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