Trump Says Vietnam Offered to Zero Out Tariffs If US Agrees to Deal
President Donald Trump, from his home in South Florida, posted on social media throughout the day about the global and economic reactions to the tariffs. After the strong job growth numbers from March were released, he wrote, "GREAT JOB NUMBERS, FAR BETTER THAN EXPECTED. IT’S ALREADY WORKING. HANG TOUGH, WE CAN’T LOSE!!!"
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After China announced it would be imposing 34% tariffs on all U.S. exports, launching trade remedy investigations into medical equipment, and putting export restrictions on critical minerals it sends to the U.S., he wrote, "CHINA PLAYED IT WRONG, THEY PANICKED -- THE ONE THING THEY CANNOT AFFORD TO DO!"
A few hours later, he wrote: "Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future."
The suggestion that he was open to lowering tariffs contradicted a tweet earlier in the day. Many have pointed out that businesses are unlikely to open new manufacturing plants in the U.S. if these high tariffs are temporary and will be negotiated away.
"TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE," Trump posted about two and a half hours before the Vietnam post.
"THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!"
He also accused Federal Reserve Chairman Jerome Powell of playing politics, as Powell gave a speech on the economic outlook. Powell said that inflation will be higher and growth will be slower as a result of the reciprocal tariffs.
"This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always 'late,' but he could now change his image, and quickly," Trump wrote. "Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months -- A BIG WIN for America. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!"