Trump says it is the ‘good time’ for Powell to chop charges as markets plummet after his surprising tariff bulletins

President Trump fired off a flurry of social media posts early Friday as he defended his controversial tariff insurance policies, shrugged off market volatility, and pushed for extra charge cuts.

“This could be a PERFECT time for Fed Chairman Jerome Powell to chop Curiosity Charges,” Trump mentioned in a submit on his social media app Fact Social. “He’s at all times ‘late,’ however he may now change his picture, and shortly.”

“Power costs are down, Curiosity Charges are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all inside two months – A BIG WIN for America. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”

On Friday, the March jobs report confirmed the labor market added 228,000 jobs in March, greater than the 140,000 anticipated by economists. Shortly after the discharge, Trump praised the roles numbers as “much better than anticipated” in a separate Fact Social submit, writing his insurance policies are “already working.

The president initially made headlines earlier within the day by doubling down on his aggressive tariff stance:

“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!”

Heading into Wednesday’s “Liberation Day,” the large scope and depth of Trump 2.0 tariffs had been underestimated by buyers, regardless of the constant guarantees from Trump on the marketing campaign path.

In 2024, then-candidate Trump pledged to impose blanket tariffs of at the least 10% on all buying and selling companions, together with a 60% tariff on Chinese language imports.

That promise materialized Wednesday (after which some) with the president slapping reciprocal tariffs on international locations all over the world, with the brand new levies starting from a ten% “baseline” tariff to further duties for nations the administration considers to be the “worst offenders.”

All informed, Trump introduced tariffs that can impression some 185 international locations, together with america’s largest buying and selling companions.

Study extra: What Trump’s tariffs imply for the economic system and your pockets

Further reciprocal tariffs, for example, will embrace 34% tariffs on Chinese language imports, a 20% tariff on European Union imports, a 46% tariff on imports from Vietnam, 32% on Taiwan imports, and 26% on India — all set to take impact on April 9.

Notably, the extra 34% tax on China can be added to the nation’s present 20% tariff, that means its complete tariff charge will rise to 54%.

Beijing retaliated early Friday with a slew of countermeasures that included further tariffs of 34% on all US items, on high of the ten% to fifteen% tariffs China levied on roughly $21 billion value of US agricultural commerce final month.