Fox News host Sandra Smith asked Prime Minister Stephen Miller, the White House vice-Chief of Staff, on Friday if President Donald Trump was “concerned” about the possibility of a recession after he imposed mutual tariffs on foreign countries.
The stock market has fallen the biggest since Thursday and Friday June 2020 after Trump fell nearly 2,100 after he imposed tariffs on foreign imports. In concerns about the recession loom, Miller argued that tariffs on Fox News’ “America” would bring about the “opposite” of the recession.
“People are thrown around the R-word, the Dow has fallen 2,100 points and people are worried about the recession. They are worried that we can’t do this without sending this economy into a dive deep enough that we can’t come back from it. I know you guys are going to cut growth, lower taxes, see that growth. Smith asked.
“The exact opposite,” Miller said. “We inherited the economy from Joe Biden with a total free fall. American workers had zero employment growth in four years. That means all employment growth went to foreign workers. It was depression, not a recession. It was depression in American workers. We had no debt and deficits. We had an economy that was in a state of disaster and catastrophe.” (Related: Doocy asks Karoline Leavitt Point-Blank what happens if the administrator is “wrong” about customs duties.)
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Miller said Trump’s planned tax cuts on Social Security, tips and other programs will heal the US economy.
“President Trump’s policy of resilience to restore supply chains, boost total capital gains, eliminate regulations, eliminate green new fraud environmental rules, promote the largest and widest tax cuts in American history, and cut taxes on American workers, including tip termination taxes, past termination taxes, and Social Security termination taxes.” “This economic program is the single most important program for America’s wealth, prosperity and rejuvenation that we have seen in this country.”
As the market fell, JPMorgan raised the chance of a recession to 60% before the end of the year, after placing a chance of a recession at 40% before the tariffs, New York Post It has been reported.
The president, for example, imposed mutual tariffs with the intention of returning manufacturing to the United States, Apple announced in February that it would spend more than $500 billion to manufacture and hire 200,000 American workers over the next four years.
Union workers in the automotive and steel industry have celebrated the move, saying they will return industry work to the US and increase profits. A guest caller for the Rust Belt said on Wednesday that he felt he had “heard” Trump’s decision to impose these tariffs on “twoway” host Mark Halperin.
In retaliation, China’s Treasury Ministry announced plans to enact 34% tariffs on all goods imported from the US from April 10th.
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