Wall Street
JPMorgan Chase & Co. A series of Wall Street executives, including Jamie Dimon, the CEO of the company, criticized the plan this week. He wrote in his annual shareholders on Monday to call for a quick resolution to trade policy uncertainty, warning against the potentially “disastrous” fragmentation of America’s long-term economic alliance.
Another person who expressed concern in the social media post was Bill Ackman, founder of Pershing Square Capital Management and Trump supporter. He later said he supported the tariff strategy, but called for a suspension before mutual obligations came into effect.
Trump’s aides have provided a chorus of support for tariffs, but some tensions between his team have begun to show. Elon Musk, CEO of Tesla, who advises Trump, called him a “automatic assembler” in a social media post. White House spokesman Caroline Levitt dismissed the clash, saying, “The boys will be boys.”
Trump is unsure, planning more.
He told a Washington Republican on Tuesday. Tariffs in other endangered sectors include timber and semiconductor chips.
And Trump is expected to further escalate the trade war with China in the coming months, with the White House announced late Tuesday plans to increase tariffs that were planned on smaller parcels from mainland China and Hong Kong, which were previously exempt from taxes.
All of this, as repeatedly promised by the President and his administration, leads to a boom in the future economically and politically for his party for the US.
“We’re going to win the midterm elections, and we’re going to have a ridiculous, thunderstorm landslide,” Trump told Republican lawmakers and donors on Tuesday. “I really believe that.”
