Trump is digging in his heels, telling people to be patient while world markets continue to lower prices

Washington President (AP), Donald Trump, remained provocative on Monday while the world markets continued to dive and fears of a recession increased after the announcement of his price last week.

Be strong, courageous and patient, and the size will be the result! He wrote on Truth Social, his social media platform.

The industrial average of Dow Jones dropped by 1,200 points while trading began on Monday morning, and the S&P 500 was on the right track to enter a lower market, which means falling by 20% compared to a recent summit. Even some of the Trumps allies stimulate alarms concerning economic damage, and financial forecasts suggest more pain on the horizon for American companies, consumers and investors.

The republican president insisted that his prices are necessary to rebalance world trade and rebuild national manufacturing. He accused other countries of enjoying the right OL USA! on international trade and said that our former leaders were to blame for having allowed this. He distinguished China as the greatest attacker of all and criticized Beijing for having increased his own prices in retaliation.

Trump also called on the federal reserve to reduce interest rates. Friday, the president of the federal reserve Jerome Powell warned that the prices could increase inflation, and he said that there is a lot of expectations and to see unfolding, including by us, before any decision is made.

Investors expect the American central bank to reduces its reference interest rates at least four times by the end of this year, according to CME Fedwatch groups, a sign that concerns inflation will be overshadowed by fears of layoffs and a narrowing economy.

Trump spent the weekend in Florida, arriving Thursday evening to attend a tournament funded by Arabia in his Miami golf course. He stayed in Mar-A-Lago, his private club in Palm Beach, and a golf course in two of its nearby properties.

On Sunday, he published a video of himself with a trip, and he told journalists on the Air Force one that evening that he had won a club championship.

It's good to win, said Trump. You heard that I won, right?

He also declared that he would not back up his prices despite the turmoil in the world markets.

Sometimes you have to take medication to fix something, said Trump.

Goldman Sachs has published new forecasts indicating that a recession has become more likely even if Trump is falling from his prices. The financial company said that economic growth would slow down considerably after a net tightening of financial conditions, boycotts from foreign consumers and a continuous increase in political uncertainty which is likely to reduce capital expenditure than what we have supposed before.

The president of the European Commission, Ursula von der Leyen, said that the European Union would focus on trade with other countries in addition to the United States, saying that there are large opportunities elsewhere.

Trump said he spoke with Japanese Prime Minister Shigeru Ishiba to start trade negotiations. He complained on Truth Social that they have treated the United States very badly on trade and they do not take our cars, but we take millions of their.

Ishiba told Trump that HES strongly feared that prices will discourage investments in Japan, which has been the world's largest investor in the United States in the past five years. He described the situation as a national crisis and said that his government would negotiate with Washington to urge Trump to reconsider prices.

The Commercial Advisor of the White House, Peter Navarro, suggested that countries should do much more than simply reducing their own rate rates to conclude agreements, claiming that they should make structural changes to their tax and regulatory codes.

Allows you to take Vietnam, he said on CNBC. When they come to us and say, go well to zero prices, it means nothing for us because it is the non -pricing cheating that counts.

On Monday, the president is expected to welcome the Los Angeles Dodgers to the White House to celebrate their World Series victory. He also met Israeli Prime Minister Benjamin Netanyahu, and expected to hold a joint press conference in the afternoon.

Trump tried from a united front after the chaotic intestine struggles of his first mandate. However, economic turbulence has exposed certain fractures within its disparate coalition of supporters.

Bill Ackman, a healing fund manager, was unleashed on Sunday to the Secretary of Commerce, Howard Lutnick, as indifferent to the stock market and the economy. He said that Cantor Fitzgerald, the financial company led by Lutnick before joining the Trump administration, took advantage of profit due to bond investments.

Ackman apologized for his criticism on Monday, but reiterated his concerns about Trumps' prices.

I am just frustrated to see what I think is a major political error occurs after our country and the president has made enormous economic progress which is now at risk due to the prices, he wrote on X.

Kevin Hassett, economic advisor to the White House, told Fox News Channel that Jerman should extinguish rhetoric a little.

He insisted that other countries, not the United States, will bring the weight of prices.

Billionaire Elon Musk, one of Trump's main advisers on the revision of the federal government, expressed his skepticism as for the prices during the weekend. Musk said prices would increase costs for Tesla, its electric car manufacturer.

I hope that it is agreed that Europe and the United States should ideally pass in my opinion to a zero tariff situation, effectively creating a free trade area between Europe and North America, Musk said in a video with Italian politicians.

He added, it was certainly my council to the president.

Navarro later told Fox News that Musk does not understand the situation.

He sells cars, said Navarro. That's what he does. He added that he simply protected his own interests like any businessman.

___ The writer Associated Press Mari Yamaguchi contributed to Tokyo.

___

Follow the APS coverage of President Donald Trump on https://apnews.com/hub/donald-trump.

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