Commentary
President Trump and his top advisers seem to be adopting a different stance as they embark on their latest trade war. Their message is clear: markets are made for America, not America for markets. Despite economic concerns, Trump and several cabinet members have emphasized this point, even as the White House postponed some tariffs on Canada and Mexico.
When asked in the Oval Office about the tariff delay and its relation to Wall Street, Trump dismissed any connection to market fluctuations, stating, “I’m not even looking at the market, because long term, the United States will be very strong with what’s happening.”
Trump continued, “These are countries and companies—foreign companies—that have been ripping us off, and no president did anything about it, until I came along, and then I did a lot about it.”
Leading up to his latest trade war, Trump seems to be broadening his economic focus beyond traditional metrics like GDP to consider the overall quality of the economy. His populist tone since returning to power marks a departure from the traditional Republican stance of prioritizing big business interests.
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The president’s statements on markets were deliberate and echoed by his Cabinet members.
Treasury Secretary Scott Bessent, speaking at the Economic Club of New York, emphasized that American prosperity goes beyond mere affordability of goods.
“Access to cheap goods is not the essence of the American Dream,” Bessent told investors. “For too long, the designers of multilateral trade deals have overlooked this. International economic relations must prioritize the needs of the American people.”
Commerce Secretary Howard Lutnick reinforced this sentiment, stating, “The president prioritizes American growth and prosperity. Daily stock market fluctuations do not dictate our goals.”
The administration aims for outcomes that go beyond financial metrics, including increased employment in sectors like manufacturing and curbing the influx of fentanyl into the US.
Despite market uncertainty, Trump has pledged reciprocal tariffs by April 2, causing market turbulence and potential economic impacts. The administration faces the challenge of achieving its objectives amidst market volatility.
The administration’s stance has resonated with populist factions within the conservative movement, who criticize the GOP for prioritizing business interests over American families and workers.
Abigail Ball, executive director of the conservative American Compass, noted, “This shift acknowledges that economic prosperity is more than just stock market performance and GDP figures.”
As Trump heralds a new “golden age of America” and his administration focuses on efficiency, Wall Street seeks stability. Former Treasury Secretary Steve Mnuchin highlighted the market’s need for certainty in a recent interview.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
Please rewrite the following sentence: “The cat chased the mouse around the house.”
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