Trump Team Defends Tariffs Amid Global Market Turmoil
Washington, April 7: Top aides of former U.S. President Donald Trump have publicly defended his administration’s tariff policy in the face of global market volatility. Appearing across major media outlets over the weekend, Trump’s economic advisors argued that the tariffs are beginning to yield results by pressuring foreign governments to the negotiation table.
The remarks come amid growing concerns over a potential global trade war, triggered by sweeping import duties announced by Trump. Critics have warned of possible long-term disruptions to global commerce, while supporters say the bold move could rebalance trade in favor of the U.S.
Trump’s Advisors Remain Optimistic
Despite sharp sell-offs in financial markets, Trump’s team dismissed fears of economic downturn. Speaking to CNN, White House Senior Advisor Peter Navarro reassured viewers, saying, “Don’t panic.” He emphasized that several countries are already responding to the tariffs by initiating discussions with the U.S.
Agriculture Secretary Brooke Rollins added that over 50 countries have expressed interest in trade talks. “The phones at the White House haven’t stopped ringing,” she noted, underscoring the administration’s belief that the tariffs are forcing global stakeholders to reconsider trade practices.
Economic Analysts Draw Brexit Parallels
A report by The New York Times likened Trump’s tariff policy to Brexit, labeling it a “direct challenge to the established global order.” The analysis noted that, just as the European Union remained intact post-Brexit, the global trade system may eventually stabilize — though the outcome remains uncertain.
Some economists argue that free trade’s rise may be irreversible, given its widespread benefits. However, others fear the tariff rates are higher than anticipated, and could push corporate America into disarray, with Wall Street still recovering from recent losses.
Markets on Edge as Recession Fears Mount
According to CNN, the new tariffs have sparked selling pressure in the stock market and raised fears of a recession. Treasury Secretary Scott Besant, appearing on Meet the Press, dismissed warnings from economists and financial institutions, stating that long-term fundamentals remain strong.
Still, with the global financial community closely watching U.S. trade policy, Trump’s economic moves are expected to dominate headlines and influence investor sentiment in the coming weeks.
