WEST PALM BEACH, Fla. (AP) — Two days after sending the financial system reeling by asserting widespread tariffs, President Donald Trump insisted his commerce insurance policies won’t ever change as he remained ensconced in a bubble of wealth and energy in Florida.
He awakened on Friday morning at Mar-a-Lago, his non-public membership in Palm Seashore, and headed to his close by golf course a number of miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”
A number of supporters stood on the sidewalk as Trump, sporting his signature pink “Make America Great Again” hat and white polo shirt, glided down a road lined with palm bushes. They waved to him and he waved again, a part of a ritual that performs out each weekend that he’s on the town.
The Republican president was not anticipated to seem publicly, though he’s scheduled to attend a candlelit dinner for MAGA Inc., an allied political group, on Friday night. He spent Thursday in Miami at a special one among his golf programs, the place he attended a Saudi-funded event. He landed in Marine One and was picked up in a golf cart pushed by his son Eric.
Trump has typically proved impervious to the sort of scandals or gaffes that will harm one other politician, however his choice to spend the weekend at his gilded properties may check Individuals’ endurance at a time when their retirement financial savings are evaporating together with the inventory market. The tariffs are anticipated to extend costs by hundreds of {dollars} per yr and sluggish financial development, and there are fears about a possible recession.
Democrats known as out Trump for being in a “billionaire bubble,” as Sen. Chuck Schumer put it, whereas thousands and thousands watched their investments sink.
“While the American people are trying to put food on the table, I see that Donald Trump’s out there playing golf,” mentioned Sen. Ben Ray Luján, a Democrat from New Mexico. “The president should be listening to people across the country. Maybe he should go into a grocery store, do some walking, talking to folks.”
Federal Reserve Chair Jerome Powell mentioned Friday that the tariffs have been “significantly larger than expected” and are “highly likely” to trigger extra inflation — at the least within the brief time period however presumably in the long run as nicely.
Nonetheless, Trump has described his insurance policies as a painful but essential step to encourage corporations to relocate their operations to the USA. Treasury Secretary Scott Bessent instructed Tucker Carlson in an interview launched Friday that “I think we have to try this, and I have a high confidence ratio it’s going to work.”
The president spent Friday morning defending himself on Fact Social, his social media platform, and vowing to remain the course.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote.
Though consultants have harshly criticized the tariffs, he’s discovered some help on TikTok. He shared a video that mentioned “Trump is crashing the stock market” and “he’s doing it on purpose” as a part of a “secret game he’s playing, and it could make you rich.”
The video featured a supposed quote from legendary investor Warren Buffett praising Trump, however Buffett’s firm issued an announcement saying it was fabricated. The video additionally mentioned that Trump’s aim is to push the Federal Reserve to decrease rates of interest, one thing that the president explicitly known as for later within the morning.
“This would be a PERFECT time” for Powell to chop rates of interest, he wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
With international leaders scrambling in response to Trump’s announcement this week, the president lashed out and seemed to chop offers.
He mentioned he spoke with Vietnamese chief To Lam and claimed Vietnam desires to get rid of its tariffs on U.S. items if it will possibly make a take care of the U.S.
He additionally criticized China for asserting its personal tariffs on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!” he wrote.
Republicans steered that Trump’s insurance policies could be the beginning of a parley with international nations.
“The president is a dealmaker if nothing else, and he’s going to continue to deal country by country with each of them,” mentioned Sen. John Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had instructed Senate Republicans this week that the tariffs could be a “high level mark with the ultimate goal of getting them reduced” until different nations retaliate.
In the meantime, Trump additionally celebrated a brand new report displaying the U.S. added 228,000 jobs in March, beating expectations. Though the numbers have been a snapshot of the financial system earlier than the tariff announcement, Trump claimed vindication, saying they already present his strikes are working.
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“HANG TOUGH,” he wrote. “WE CAN’T LOSE!!!”
Megerian and Groves reported from Washington.
