Latin Times
Despite mounting warnings from economists and investors about a potential recession, President Donald Trump insists that his aggressive tariff policies will make Americans “so rich.”
Trump’s latest remarks come amid escalating economic uncertainty and a declining stock market fueled by his trade policies. His administration has imposed, lifted, and reinstated tariffs on imports from Canada and Mexico in a chaotic manner, leaving businesses and markets struggling to adapt.
The stock market has responded negatively, with the Dow Jones Industrial Average falling nearly 900 points on Monday and other major indexes posting their worst losses in months. Experts warn that the economic instability caused by Trump’s unpredictable trade moves is increasing the likelihood of a downturn, Mitrade reported.
Speaking aboard Air Force One on Sunday in an interview with Fox News, Trump dismissed recession fears and doubled down on his trade war, claiming tariffs will bring in billions and create jobs and prosperity.
“We’re going to take in hundreds of billions of dollars in tariffs and we’re going to become so rich, you’re not going to know where to spend all that money,” Trump said. “I’m telling you, you just watch. We’re gonna have jobs, we’re gonna have open factories. It’s gonna be great.”
However, Wall Street analysts and economists disagree, citing declining GDP forecasts, a weakening labor market, and the Federal Reserve’s cautious stance on monetary policy.
Originally published on Latin Times
