WEST PALM BEACH, Fla. (AP) — Two days after sending the economic system reeling by saying widespread tariffs, President Donald Trump insisted his commerce insurance policies won’t ever change as he remained ensconced in a bubble of wealth and energy in Florida.
He wakened on Friday morning at Mar-a-Lago, his personal membership in Palm Seaside, and headed to his close by golf course just a few miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”
A number of supporters stood on the sidewalk as Trump, carrying his signature pink “Make America Nice Once more” hat and white polo shirt, glided down a road lined with palm timber. They waved to him and he waved again, a part of a ritual that performs out each weekend that he’s on the town.
The Republican president was not anticipated to look publicly, though he’s scheduled to attend a candlelit dinner for MAGA Inc., an allied political group, on Friday night. He spent Thursday in Miami at a distinct one in every of his golf programs, the place he attended a Saudi-funded event. He landed in Marine One and was picked up in a golf cart pushed by his son Eric.
Trump has usually proved impervious to the form of scandals or gaffes that will harm one other politician, however his determination to spend the weekend at his gilded properties might take a look at Individuals’ endurance at a time when their retirement financial savings are evaporating together with the inventory market. The tariffs are anticipated to extend costs by hundreds of {dollars} per yr and sluggish financial progress, and there are fears a few potential recession.
Democrats referred to as out Trump for being in a “billionaire bubble,” as Sen. Chuck Schumer put it, whereas hundreds of thousands watched their investments sink.
“Whereas the American individuals are attempting to place meals on the desk, I see that Donald Trump’s on the market enjoying golf,” mentioned Sen. Ben Ray Luján, a Democrat from New Mexico. “The president ought to be listening to folks throughout the nation. Perhaps he ought to go right into a grocery retailer, do some strolling, speaking to of us.”
Federal Reserve Chair Jerome Powell mentioned Friday that the tariffs had been “considerably bigger than anticipated” and are “extremely probably” to trigger extra inflation — at the very least within the quick time period however probably in the long run as effectively.
Nonetheless, Trump has described his insurance policies as a painful but obligatory step to encourage corporations to relocate their operations to america. Treasury Secretary Scott Bessent informed Tucker Carlson in an interview launched Friday that “I feel we’ve to do that, and I’ve a excessive confidence ratio it’s going to work.”
The president spent Friday morning defending himself on Reality Social, his social media platform, and vowing to remain the course.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote.
Though consultants have harshly criticized the tariffs, he’s discovered some help on TikTok. He shared a video that mentioned “Trump is crashing the inventory market” and “he’s doing it on objective” as a part of a “secret recreation he’s enjoying, and it might make you wealthy.”
The video featured a supposed quote from legendary investor Warren Buffett praising Trump, however Buffett’s firm issued a press release saying it was fabricated. The video additionally mentioned that Trump’s purpose is to push the Federal Reserve to decrease rates of interest, one thing that the president explicitly referred to as for later within the morning.
“This might be a PERFECT time” for Powell to chop rates of interest, he wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
With international leaders scrambling in response to Trump’s announcement this week, the president lashed out and appeared to chop offers.
He mentioned he spoke with Vietnamese chief To Lam and claimed Vietnam needs to remove its tariffs on U.S. items if it might probably make a cope with the U.S.
He additionally criticized China for saying its personal tariffs on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!” he wrote.
Republicans instructed that Trump’s insurance policies could be the beginning of a parley with international international locations.
“The president is a dealmaker if nothing else, and he’s going to proceed to deal nation by nation with every of them,” mentioned Sen. John Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had informed Senate Republicans this week that the tariffs could be a “excessive stage mark with the last word purpose of getting them diminished” until different international locations retaliate.
In the meantime, Trump additionally celebrated a brand new report exhibiting the U.S. added 228,000 jobs in March, beating expectations. Though the numbers had been a snapshot of the economic system earlier than the tariff announcement, Trump claimed vindication, saying they already present his strikes are working.
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“HANG TOUGH,” he wrote. “WE CAN’T LOSE!!!”
Megerian and Groves reported from Washington.