Trump officials pledge to stay in the course on the definitions despite market turmoil

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Donald Trump’s senior officials pledged to move forward in the tariffs of bruises on imports from all over the world, and they rejected fears of the recession looming on the horizon as investors prepared for new disturbances in the financial markets.

In a group of television interviews on Sunday morning, Scott betThe US Treasury Secretary, and Hutdard Lottenic, Minister of Commerce, defended Trump’s policies for superior protection in the field of trade as a necessary reform for global trade and rejected brutal sale last week in stock prices.

They also suggested an additional confrontation on imports from a wide range of countries, which are scheduled to enter into force on Wednesday, will not be delayed. This is in addition to the 10 % “baseline” tariff, which was implemented on Saturday, which struck most of the imported goods.

“He announced this, and it was not joking. The upcoming definitions are, of course,” Lootnick told CBS on Sunday.

“The president needs to reset global trade.”

Since Trump announced the new tariff plan last Wednesday in the Roses Park at the White House, more than 50 countries were in contact with the administration to request negotiations to alleviate the definitions.

But while they left the door open to the conversations, they were skeptical that a series of deals could be reached quickly, which could lead to a wide decline in American definitions.

“This is not the type of thing that you can negotiate in days or weeks … we will have to see what countries offer and whether it is reasonable,” said Pesin, speaking to BBC.

“After 20, 30, 40, 50 years of bad behavior, you can not only wipe the clean menu.”

Trump’s political pressure and his team left the tariff plans quickly. Last week, the significant decrease in American stocks increased the democratic attacks on administration and even some Republicans to apostasy in the White House’s commercial agenda.

Friday, the President of the Federal Reserve Jay Powell He warned that Trump’s customs tariff risk providing both higher inflation and slower growth of the world’s largest economy, which reveals anxiety in the US Central Bank.

China’s move to avenge against the last round of US definitions with its fees on American goods has raised other fears of repercussions.

But Bessent denied that financial markets or economic expectations would strike long -term harmful effects. “There should be no stagnation,” he said.

He added that the fees are “one -time price modification”, and the Americans will not be very annoyed by fluctuations in Wall Street.

“Who knows how the market will interact in one day, in a week?” Pesin said.

“The Americans who now want to retire, the Americans who have been put in their savings accounts, I think they are not looking at the daily fluctuations of what is happening.”

However, Lawrence Samars, former US Treasury Secretary during the era of Democratic President Bill Clinton, warned that “more turmoil” would have been likely to hit the market unless Trump changed the path.

“Until the president realizes that this is a very serious mistake that is likely to have very severe consequences, I think it is likely to make things very difficult,” Samers told ABC.

“I think people are right to stop making large new purchases, and companies are cautious. People are right to want to get money. What we need is a reflection of these policies, and until we are inversely, I think we will face a real problem.”