Don’t fire Fed Powell! Trump stressed that egg and oil prices have stabilized and tariffs on China will not be raised to 145%

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ABMedia
04-23
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U.S. President Donald Trump responded this morning on 4/23 to U.S.-China trade, border policies, and pricing issues. He again turned his criticism towards the Biden government, criticizing their ineffective governance and continued border and economic crises. Regarding China's chip and tariff policies, Trump reiterated that both sides still maintain a friendly relationship, but he will not allow China to take advantage of the United States.

Trump Responds to 145% High Tariffs, Specifically Targeting Fentanyl and Similar Cases

Trump first responded to external claims that current tariffs are like a "trade embargo", and he candidly said:

"145% is high, but ultimately it won't be implemented this high, it's specifically set for cases like fentanyl. Actually, we will lower it, but won't return to the zero-tariff era that allowed China to take advantage."

Trump Proud of Border Management, Almost Eliminating Illegal Entry

Trump was quite proud of his team's border management performance:

"During Biden's time, tens of thousands from prisons, mental hospitals, and gangs would enter every month. But now, almost none."

He also pointed out that countries including Venezuela and multiple African nations have sent prisoners and mental patients to the United States. The current government has begun deportation, but court procedures are lengthy and outdated. He urged courts to support rapid expulsion.

Trump Says Prices Stabilized, Egg and Oil Prices Return to Normal Levels

Trump noted that energy and food prices are declining, and further stated:

"In my first week in office, everyone was complaining about egg prices rising 5-fold, with no eggs even for Easter. But at yesterday's White House Easter event, we prepared 48,000 eggs, and egg prices have now fallen 93-94%."

Additionally, he mentioned that oil prices in some states have dropped to $1.98 per gallon (about 17 Taiwan dollars per liter of gasoline), emphasizing that energy extraction and exports will further reduce the deficit.

External Sources Say Powell Will Be Fired, Trump Says No Such Plan

When asked if he would dismiss Federal Reserve (Fed) Chairman Jerome Powell during his term, he stated:

"I absolutely have no such plan, it's all media speculation. Although I hope he could be more proactive in lowering interest rates, this is a good timing, but I never thought about firing him."

Trump Says U.S.-China Relations Are Harmonious, Negotiations Not Yet Finalized

When asked about current specific trade agreements with China, Trump answered:

"I've always had a good relationship with Xi Jinping, we will reach an agreement. If we don't, we will set numbers, and China will want to join America's prosperity."

Trump Continues to Show Strong Stance, Emphasizes Excellent Governance

In summary, Trump's rhetoric remains forceful, even repeatedly criticizing the Biden government's actions, and emphasizing how he used bold border policies and raised external tariffs to make global supply chains centered on the United States, restoring domestic economic prosperity, but causing global financial market turbulence.

Currently, investors still need to observe future policy directions and flexibly adjust investment strategies.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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