President Donald Trump said on Wednesday that the dropping stock market is the fault of former President Joe Biden, adding that slow economic growth is from &#8220;the Biden overhang&#8221; and &#8220;has NOTHING TO DO WITH TARIFFS.&#8221;
Trump made the comment on <a href="https://truthsocial.com/@realDonaldTrump/posts/114427089568235019" target="_blank" rel="noopener">Truth Social</a> as the Dow Jones Industrial Average, S&amp;P 500, and Nasdaq Composite all dipped again Wednesday morning. Since Trump&#8217;s massive tariff rollout, which began with hitting China, Canada, and Mexico in early February, the <a href="https://www.marketwatch.com/investing/index/djia?mod=mw_quote_switch" target="_blank" rel="noopener">Dow Jones</a> has dropped by around 5,000 points, the <a href="https://www.marketwatch.com/investing/index/comp?mod=mw_quote_switch" target="_blank" rel="noopener">Nasdaq</a> is down nearly 2,000 points, and the <a href="https://www.marketwatch.com/investing/index/spx?mod=mw_quote_switch" target="_blank" rel="noopener">S&amp;P 500</a> is down around 500 points.
&#8220;This is Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,&#8221; Trump said. &#8220;Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden &#8216;Overhang.&#8217; This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!&#8221;
The president has <a href="https://www.pbs.org/newshour/politics/trump-tells-americans-to-be-patient-as-global-markets-keep-dropping-over-tariffs" target="_blank" rel="noopener">repeatedly</a> asked Americans to remain patient as his economic and trade policies take effect, but many Americans are still uneasy about how Trump&#8217;s tariffs will affect the U.S. economy. On Wednesday, a U.S. Department of Commerce report showed that gross domestic product fell at a 0.3% annualized pace over the first quarter of 2025, CNBC <a href="https://www.cnbc.com/2025/04/30/trump-gdp-tariffs-biden-overhang.html" target="_blank" rel="noopener">reported</a>. It was the first quarter of negative growth since the first quarter of 2022.
The Commerce Department report pointed to Trump&#8217;s tariffs as a reason for the decline in GDP in Q1, as companies tried to get ahead of the tariffs by ramping up imports. The Trump administration&#8217;s cut to defense spending also contributed to the GDP slowdown.
In January 2024, Trump took credit for a rising stock market under former President Biden. In a Truth Social post, Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/111840568643216314" target="_blank" rel="noopener">wrote</a>, &#8220;THIS IS THE TRUMP STOCK MARKET BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP.&#8221;
The stock market reacted positively last week after the Trump administration hinted that the trade war with China might be coming to an end. Last Tuesday, after Treasury Secretary Scott Bessent warned against a prolonged trade war, Trump said the 145% tariff on China &#8220;will come down substantially, but it won’t be zero.&#8221; As the White House says that numerous countries are ready to make a trade deal, Trump is still trying to bring China to the negotiating table.

Donald Trump

Trump: This Is Biden’s Stock Market

Economy

Executive

Joe Biden

Politics

Stock Market

Tariffs

President Donald Trump said he talked to Amazon founder Jeff Bezos on Tuesday shortly after a report claimed that the e-commerce giant was going to show the <a href="https://www.dailywire.com/news/hostile-white-house-sounds-off-after-amazon-says-it-will-display-tariff-costs-for-consumers?topStoryPosition=undefined&amp;author=Zach+Jewell&amp;category=News&amp;elementPosition=4&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=%E2%80%98Hostile%E2%80%99%3A+White+House+Sounds+Off+On+Amazon+Reportedly+Displaying+Tariff+Costs+For+Consumers" target="_blank" rel="noopener">cost of tariffs</a> next to the total price of products on its site.
Trump said that Bezos &#8220;solved the problem very quickly&#8221; after Punchbowl News reported that Amazon was planning to display tariff costs. Shortly after the Punchbowl News report was published, White House Press Secretary Karoline Leavitt blasted Amazon, calling its reported move &#8220;hostile and political.&#8221; Amazon <a href="https://www.dailywire.com/news/amazon-denies-that-it-considered-listing-tariff-costs-on-main-site-after-trump-backlash" target="_blank" rel="noopener">responded</a> to the report Tuesday morning, denying that it was planning to show tariff costs on its main website.
&#8220;Jeff Bezos was very nice. He was terrific. He solved the problem very quickly, and he did the right thing,&#8221; Trump told reporters before boarding Marine One Tuesday afternoon. &#8220;He&#8217;s a good guy.&#8221;
<blockquote class="twitter-tweet">
.<a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> on Amazon: &#8220;Jeff Bezos was very nice. He was terrific. He solved the problem very quickly and he did the right thing.&#8221; <a href="https://t.co/AGrFLA9u1X">pic.twitter.com/AGrFLA9u1X</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1917288272344055882?ref_src=twsrc%5Etfw">April 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Bezos has grown warmer toward Trump after the 2024 presidential election, attending his inauguration and meeting him at Mar-a-Lago. Leavitt didn&#8217;t pull any punches in her comments about Amazon, however, and said that its reported decision was “not a surprise,” pointing to a 2021 Reuters report about the tech and e-commerce giant partnering with a Chinese propaganda arm and complying with some of communist China’s wishes for the website. A senior White House official told <a href="https://www.cnn.com/2025/04/29/business/white-house-calls-report-that-amazon-is-adding-a-tariff-charge-a-hostile-action/index.html" target="_blank" rel="noopener">CNN</a> that Trump &#8220;was pissed&#8221; after learning of Amazon&#8217;s reported plan to add a tariff charge.
After Leavitt blasted Amazon, a spokesman for the company said that the plan was only discussed for the “ultra low cost Amazon Haul store,” which “considered the idea of listing import charges on certain products,” ABC News reported. The spokesman added, “Teams discuss ideas all the time. This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”
Amazon, an American company that sources over 70% of its products from China, is facing the brunt of Trump&#8217;s 145% tariff on China. Chinese clothing stores Temu and Shein have added tariff surcharges, showing an additional 145% &#8220;import charge&#8221; for each item that they sell, CNBC <a href="https://www.cnbc.com/2025/04/29/white-house-blasts-amazon-over-tariff-cost-report-hostile-and-political-act.html" target="_blank" rel="noopener">reported</a>.

Trump Called Jeff Bezos After Report Claimed Amazon Was Planning To Show Tariff Costs

Amazon

China

Jeff Bezos

Amazon denied on Tuesday that it was planning to show the cost that tariffs would add to the price of products on its website, pushing back on a <a href="https://www.dailywire.com/news/hostile-white-house-sounds-off-after-amazon-says-it-will-display-tariff-costs-for-consumers" target="_blank" rel="noopener">report</a> from Punchbowl News after White House Press Secretary Karoline Leavitt blasted the Seattle-based company.
Leavitt ripped Amazon for taking a &#8220;hostile and political&#8221; action, adding, “Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?” After backlash from the White House, the company said that it &#8220;never&#8221; considered showing tariff costs on &#8220;the main Amazon site.&#8221;
An Amazon spokesman said on Tuesday morning that the plan was only discussed for the &#8220;ultra low cost Amazon Haul store,&#8221; which &#8220;considered the idea of listing import charges on certain products,&#8221; ABC News <a href="https://abcnews.go.com/Politics/live-updates/trump-admin-live-updates-border-czar-brief-securing/?id=121230740&amp;entryId=121277073" target="_blank" rel="noopener">reported</a>. The spokesman added, &#8220;Teams discuss ideas all the time. This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.&#8221;
Asked about the Punchbowl report during a press briefing on Tuesday morning, Leavitt said that she had just spoken to President Donald Trump about the issue. Leavitt also pointed to a 2021 Reuters <a href="https://www.reuters.com/world/china/amazon-partnered-with-china-propaganda-arm-win-beijings-favor-document-shows-2021-12-17/" target="_blank" rel="noopener">report</a> about the tech and e-commerce giant partnering with a Chinese propaganda arm and complying with some of communist China’s wishes for the website. More than 70% of Amazon&#8217;s products are sourced in China and subject to Trump’s 145% tariff on the country.
Amazon founder Jeff Bezos has not commented on the Punchbowl report. Bezos has cozied up to Trump since the 2024 election, joining Trump for dinner at Mar-a-Lago after the election and attending Trump&#8217;s inauguration after Amazon donated $1 million to the inaugural fund.

Amazon Denies That It Considered Listing Tariff Costs On ‘Main’ Site After Trump Backlash

Business

Karoline Leavitt

Trump Administration

The White House confirmed on Tuesday that President Donald Trump will sign an order protecting the auto industry from tariffs &#8220;stacking&#8221; on top of each other in exchange for continued focus on domestic production.
Auto manufacturers will continue to pay a 25% tariff for imported vehicles, but Trump&#8217;s order will prevent any additional tariffs, such as the 25% tax on steel and aluminum, from affecting car companies, CNBC <a href="https://www.cnbc.com/2025/04/29/trump-auto-tariffs.html" target="_blank" rel="noopener">reported</a>. Trump&#8217;s order will be retroactive, allowing automakers to receive reimbursements for tariffs they have already paid, according to <a href="https://www.wsj.com/business/autos/trump-tariffs-autos-exceptions-fc634efd?mod=hp_lead_pos1" target="_blank" rel="noopener">The Wall Street Journal</a>.
Treasury Secretary Scott Bessent said during a White House press briefing on Tuesday that the president&#8217;s move shows a commitment to bringing car manufacturing back to the United States. “We want to give the automakers a path to do that quickly, efficiently, and create as many jobs as possible,” he said.
The change comes after automakers called on the Trump administration to provide some relief from the tariffs that have been stacking up on the car industry. Six lobbyists representing U.S. automotive groups joined forces last week to argue against implementing tariffs on foreign auto parts, a tax that is set to take effect on May 3.
The Wall Street Journal reported on Monday that the 25% tariff on foreign auto parts will also be modified, allowing car manufacturers to be reimbursed up to 3.75% of the value of the U.S.-made car in the first year. The reimbursement would drop to 2.5% of the car&#8217;s value in the second year and then be phased out.
In exchange for the tariff relief, car manufacturers reportedly committed to furthering domestic production, a key point for the Trump administration.
“President Trump is building an important partnership with both the domestic automakers and our great American workers,” said Commerce Secretary Howard Lutnick. “This deal will be a major victory for the president’s trade policy by rewarding companies who are already manufacturing domestically, while providing a runway to manufacturers who have expressed their commitment in investing in America and expanding domestic manufacturing.”
The Ford Motor Company thanked the president for the tariff relief, saying in a statement, “Ford welcomes and appreciates these decisions by President Trump, which will help mitigate the impact of tariffs on automakers, suppliers and consumers.”
&#8220;We will continue to work closely with the administration in support of the president’s vision for a healthy and growing auto industry in America,&#8221; Ford CEO Jim Farley added. &#8220;Ford sees policies that encourage exports and ensure affordable supply chains to promote more domestic growth as essential.&#8221;
Stellantis Chair John Elkann added, “Stellantis appreciates the tariff relief measures decided by President Trump. While we further assess the impact of the tariff policies on our North American operations, we look forward to our continued collaboration with the U.S. Administration to strengthen a competitive American auto industry and stimulate exports.”
General Motors CEO Mary Barra also expressed her gratitude for the &#8220;productive conversations with the President and his Administration.&#8221;

Ford assembly line

‘A Major Victory:’ Trump Makes Deal With Auto Industry For Tariff Relief

Auto Companies

Ford Motor Co.

Amazon will begin displaying the cost that President Donald Trump&#8217;s tariffs are adding to the price of products, according to Punchbowl News, irking the Trump administration, which on Tuesday described Amazon&#8217;s move as &#8220;hostile and political.&#8221;
Punchbowl News <a href="https://punchbowl.news/article/tech/amazon-display-tariff-costs/" target="_blank" rel="noopener">reported</a> that the massive e-commerce company will show the cost that tariffs add to each product next to the total price. White House Press Secretary Karoline Leavitt <a href="https://x.com/PhilipWegmann/status/1917201780687135018" target="_blank" rel="noopener">blasted</a> Amazon during a press briefing on Tuesday morning, saying she &#8220;just got off the phone with the president,&#8221; who discussed Amazon&#8217;s decision.
&#8220;This is a hostile and political act by Amazon,&#8221; Leavitt said. &#8220;Why didn&#8217;t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?&#8221;
Amazon denied that it was planning to show the cost of tariffs next to products shortly after Leavitt&#8217;s comments. An Amazon spokesman said that the plan was only discussed for the “ultra low cost Amazon Haul store,” which “considered the idea of listing import charges on certain products,” ABC News <a href="https://abcnews.go.com/Politics/live-updates/trump-admin-live-updates-border-czar-brief-securing/?id=121230740&amp;entryId=121277073" target="_blank" rel="noopener">reported</a>. The spokesman added, “Teams discuss ideas all the time. This was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.”
Leavitt said that Amazon&#8217;s reported decision is &#8220;not a surprise,&#8221; pointing to a 2021 Reuters <a href="https://www.reuters.com/world/china/amazon-partnered-with-china-propaganda-arm-win-beijings-favor-document-shows-2021-12-17/" target="_blank" rel="noopener">report</a> about the tech and e-commerce giant partnering with a Chinese propaganda arm and complying with some of communist China&#8217;s wishes for the website.
&#8220;This is another reason why Americans should buy American. It&#8217;s another reason why we are onshoring critical supply chains here at home to shore up our own critical supply chain and boost our own manufacturing,&#8221; Leavitt said.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/PressSec?ref_src=twsrc%5Etfw">@PressSec</a> reacts to Amazon&#39;s announcement on tariffs: &quot;This is a hostile and political act by Amazon&#8230; It&#39;s not a surprise because, as Reuters recently wrote, Amazon has partnered with a Chinese propaganda arm&#8230; This is another reason Americans should buy American.&quot; <a href="https://t.co/jtXZYfR8rH">pic.twitter.com/jtXZYfR8rH</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1917203919521882362?ref_src=twsrc%5Etfw">April 29, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Some economists express concerns that the president&#8217;s tariffs on China will mostly hurt American consumers. More than <a href="https://www.statista.com/chart/33376/share-of-items-sold-on-amazon-by-country-of-origin/#:~:text=More%20than%2070%20percent%20of,above%20the%20100%20percent%20mark." target="_blank" rel="noopener">70%</a> of Amazon&#8217;s products are sourced in China and subject to Trump&#8217;s 145% tariff on the country. The president hinted at an end to the escalating trade war with China soon, saying last week that the tariff on China &#8220;will come down substantially, but it won’t be zero.&#8221; China has retaliated with a 125% tariff on American goods.
Amazon founder Jeff Bezos has grown warmer toward Trump in recent months. After Trump&#8217;s election victory, Bezos dined with Trump at Mar-a-Lago, and Amazon donated $1 million to the president&#8217;s inauguration. Bezos, who also owns The Washington Post, has also been hit by the Left for <a href="https://www.dailywire.com/news/wapo-opinion-editor-quits-after-jeff-bezos-announces-significant-shift-in-opinion-section" target="_blank" rel="noopener">dialing back</a> the newspaper&#8217;s opinion section and reportedly urging the Post to hire more conservative columnists.
This article has been updated with additional information.

White House Press Briefing

‘Hostile’: White House Sounds Off On Amazon Reportedly Displaying Tariff Costs For Consumers

Trade War

Labor Secretary Lori Chavez-DeRemer <a href="https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/2025/04/ETA20250661.pdf">warned</a> states on Friday that if they allow illegal immigrants to collect unemployment benefits, they could lose federal funding.
Chavez-DeRemer sent a letter to all governors, telling them to comply with President Donald Trump’s directives to make sure illegals are not getting American tax dollars and illegal immigration is not incentivized.
&#8220;Our nation’s unemployment benefits exist solely for workers who are eligible to receive them,&#8221; the secretary wrote. &#8220;To qualify for unemployment, one must be able and available to work, actively seeking work, and be legally authorized to accept employment in the United States. Unemployment benefits are not a handout for those in our country illegally.”
Chavez-DeRemer specifically cited Trump&#8217;s “Preventing Illegal Aliens from Obtaining Social Security Act Benefits” memorandum and Executive Order 14218, “Ending Taxpayer Subsidization of Open Borders.”
The letter notes that Department of Homeland Security Secretary Kristi Noem recently informed states that they are allowed to use the DHS immigration database known as SAVE. The system &#8220;helps verify the immigration status of benefit claimants and is a critical tool in the toolbox in ensuring that illegal immigrants do not access our nation’s unemployment benefits,&#8221; Chavez-DeRemer said.
&#8220;I instructed the Employment and Training Administration (ETA) to send a letter to all State Unemployment Insurance Administrators urging them to immediately start using SAVE for every initial and continued claim filed by an individual who indicates that they are not a U.S. citizen,&#8221; the Labor Secretary continued.
&#8220;This letter also reminds states of their existing legal obligations regarding immigrant access to unemployment benefits and that noncompliance with these existing obligations will result in the loss of the state’s Title III UI administrative grant,&#8221; she added.
Earlier in the week, Agriculture Secretary Brooke Rollins said the U.S. Food and Drug Administration (USDA) will <a href="https://www.foxnews.com/politics/states-warned-federal-funding-jeopardy-illegal-immigrants-collecting-unemployment-benefits.amp">crack down</a> on illegal immigrants accessing food benefits known as food stamps or SNAP (Supplemental Nutrition Assistance Program).
&#8220;USDA&#8217;s nutrition programs are intended to support the most vulnerable Americans,&#8221; Rollins said, Fox News reported. &#8220;To allow those who broke our laws by entering the United States illegally to receive these benefits is outrageous.”
The Trump administration has also threatened to withhold federal funding from states that do not comply with other orders and federal law, such as Title IX rules. Maine, for example, is in a heated battle with Trump for refusing to protect girls&#8217; sports and adhere to federal law.
Additionally, the administration has <a href="https://www.dailywire.com/news/trump-calls-harvard-an-anti-semitic-threat-to-democracy">taken aim</a> at the federal funding for specific schools, such as Harvard University. Trump froze more than $2 billion in financing for Harvard after it rejected demands to dismantle its diversity, equity, and inclusion (DEI) programs and do more to curb student anti-Israel protests, The Daily Wire reported.

Chavez-DeRemer Labor Hearing in Washington

Trump Labor Dept Threatens States Giving Unemployment Benefits To Illegals

Illegal Immigration

Unemployment

Treasury Secretary Scott Bessent said on Wednesday that the United States is focused on developing deeper trade relationships with nations around the globe as the Trump administration seeks to bring countries to the negotiating table through tariffs.
Bessent spoke at the International Monetary Fund (IMF) and World Bank meetings in Washington, D.C., on Wednesday morning, addressing President Donald Trump&#8217;s global trade strategy. The meetings come a day after Bessent said in a closed-door meeting that a prolonged trade war against China is <a href="https://www.dailywire.com/news/trump-says-tariff-on-china-will-drop-substantially-after-bessent-warns-against-trade-war?topStoryPosition=undefined&amp;author=Zach+Jewell&amp;category=News&amp;elementPosition=1&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=Trump+Says+Tariff+On+China+Will+Drop+%E2%80%98Substantially%E2%80%99+After+Bessent+Warns+Against+Trade+War" target="_blank" rel="noopener">unsustainable</a>.
&#8220;I wish to be clear: &#8216;America First&#8217; does not mean America alone,&#8221; Bessent said. &#8220;To the contrary, it is a call for deeper collaboration and mutual respect among trade partners. Far from stepping back, &#8216;America First&#8217; seeks to expand U.S. leadership and international institutions like the IMF and the World Bank. By embracing a stronger leadership role, &#8216;America First&#8217; seeks to restore fairness to the international economic system.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &quot;I wish to be clear: America first does not mean America alone. To the contrary, it is a call for deeper collaboration and mutual respect among trade partners.&quot; <a href="https://t.co/Nes9sPK993">pic.twitter.com/Nes9sPK993</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1915046107115352346?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Trump administration officials said that more than 100 countries are ready to negotiate with the United States on trade, and the president&#8217;s trade team is set to meet with 34 nations this week. China, however, remains a major hurdle for the administration&#8217;s trade agenda as Trump and his team still seek to bring China to the table to work out a deal. After Bessent warned against a trade war with China on Tuesday, Trump told reporters that the 145% tariff on Chinese goods would drop.
“It will come down substantially, but it won’t be zero,” Trump added.
Stocks rose on Tuesday following Bessent&#8217;s remarks and continue to climb on Wednesday morning. Bessent also addressed trade with China during his speech at the IMF and World Bank conference, saying the country &#8220;needs to change&#8221; its strategy.
&#8220;China, in particular, is in need of a rebalancing,&#8221; Bessent said. &#8220;Recent data shows the Chinese economy tilting even further away from consumption toward manufacturing. China&#8217;s economic system, with growth driven by manufacturing exports, will continue to create even more serious imbalances with its trading partners if the status quo is allowed to continue.&#8221;
&#8220;China&#8217;s current economic model is built on exporting its way out of its economic troubles. It&#8217;s an unsustainable model that is not only harming China, but the entire world,&#8221; he added. &#8220;China needs to change. The country knows it needs to change.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
.<a href="https://twitter.com/SecScottBessent?ref_src=twsrc%5Etfw">@SecScottBessent</a>: &quot;China, in particular, is in need of a rebalancing&#8230; China&#39;s current economic model is built on exporting its way out of its economic troubles. It&#39;s an unsustainable model that is not only harming China, but the entire world. China needs to change.&quot; <a href="https://t.co/uKcUkhc22r">pic.twitter.com/uKcUkhc22r</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1915046948484288659?ref_src=twsrc%5Etfw">April 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Scott Bessent

‘America First Does Not Mean America Alone’: Bessent Calls For ‘Deeper’ Trade Relationships

America First

Washington D.C.

President Donald Trump said on Tuesday that the 145% tariff on China won&#8217;t stay that high, signaling a potential easing of tensions after Treasury Secretary Scott Bessent warned against a prolonged trade war with the communist country.
During a press conference at the White House, Trump acknowledged that the 145% tax on Chinese imports &#8220;is very high,&#8221; adding, &#8220;It won&#8217;t be anywhere near that high.&#8221; The president did not say when the tariff rate could drop or if he is waiting for China to agree to any deal in return for a lower tariff.
&#8220;It will come down substantially, but it won&#8217;t be zero,&#8221; Trump added.
Trump&#8217;s comments come after Bessent told investors in a closed-door summit on Tuesday that a trade war against China is unsustainable, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-04-22/bessent-sees-de-escalation-with-china-situation-unsustainable?taid=6807bf63c416140001c5dc10&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter" target="_blank" rel="noopener">reported</a>. Bessent reportedly added that he is hopeful the tension between the United States and China will ease in the coming months as the two countries seek to work out a deal. He urged those in attendance to remain patient as a comprehensive deal with China could still take two to three years.
The Trump administration landed on a 145% tariff on Chinese imports after multiple rounds of retaliatory moves between the two countries, and includes a 20% tariff that Trump placed on China in February, citing its role in fentanyl trafficking. China has hit back at the United States with a 125% tariff on U.S. goods.
Stocks and the U.S. dollar jumped following Bessent&#8217;s remarks. Asked about the Treasury Secretary&#8217;s comments, Trump acknowledged that the stock market was up, but did not say if he agreed with Bessent that the trade war with China is unsustainable, according to the <a href="https://apnews.com/article/tariffs-trade-taxes-trump-china-bessent-treasury-66668fa26957ece530a250fa8ea19faa" target="_blank" rel="noopener">Associated Press</a>.
“We’re going to be very nice,” Trump added. “They’re going to be very nice, and we’ll see what happens. But ultimately, they have to make a deal, because otherwise they’re not going to be able to deal in the United States.”
White House Press Secretary Karoline Leavitt said on Tuesday that <a href="https://www.dailywire.com/news/moving-at-trump-speed-white-house-touts-18-trade-proposals-so-far?author=Daniel+Chaitin&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=%E2%80%98Moving+At+Trump+Speed%E2%80%99%3A+White+House+Touts+18+Trade+Proposals+So+Far" target="_blank" rel="noopener">18 countries</a> have submitted trade proposals to the president following Trump&#8217;s &#8220;Liberation Day&#8221; tariffs, which affected nearly every country in the world. This week alone, Trump&#8217;s trade team — which includes Bessent and Commerce Secretary Howard Lutnick — has meetings with 34 countries, according to Leavitt.
On Monday, China <a href="https://www.dailywire.com/news/china-vows-to-punish-countries-that-agree-to-trump-trade-deals?author=Zach+Jewell&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=China+Vows+To+Punish+Countries+That+Agree+To+Trump+Trade+Deals" target="_blank" rel="noopener">warned</a> that it would punish countries that agree to trade deals with the Trump administration, saying the United States “has abused tariffs on all its trading partners under the banner of so-called ‘reciprocity,’ while at the same time forcing all parties to start so-called ‘reciprocal tariff negotiations’ with it.”

Trump White House

Trump Says Tariff On China Will Drop ‘Substantially’ After Bessent Warns Against Trade War

The Democratic Party took a virtual beating on Monday over what was supposed to be a slam-dunk zinger at President Donald Trump&#8217;s expense: a post claiming that persistently pricey eggs had driven desperate American families to dye potatoes for Easter instead.
The post, shared by @thedemocrats on X, took aim at Trump&#8217;s administration for going ahead with the annual Easter Egg Roll – and allegedly racking up a considerable bill for the thousands of eggs used there — while the people were left to contend with their leftover painted spuds and disappointment.
&#8220;Trump’s White House is using 30,000 real eggs worth over $15,500 for their Easter Egg Roll. Meanwhile, Americans dyed potatoes instead of eggs this Easter to save money,&#8221; the post read.
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Trump’s White House is using 30,000 real eggs worth over $15,500 for their Easter Egg Roll.
Meanwhile, Americans dyed potatoes instead of eggs this Easter to save money.
&mdash; Democrats (@TheDemocrats) <a href="https://twitter.com/TheDemocrats/status/1914323242447237428?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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But as several critics quickly pointed out, the White House did not actually spend any money at all on the eggs used for the annual event — they were donated.
&#8220;I don’t know a single American dyeing potatoes. But I do know that the farmers who donated the eggs said they were not the sizes sold to grocery stores. Not a single egg was stolen off the table of an American family,&#8221; MRCTV managing Editor Brittany Hughes posted.
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I don’t know a single American dyeing potatoes. But I do know that the farmers who donated the eggs said they were not the sizes sold to grocery stores.
Not a single egg was stolen off the table of an American family. <a href="https://t.co/AOPiLEd3IU">https://t.co/AOPiLEd3IU</a>
&mdash; Brittany Hughes (@RealBrittHughes) <a href="https://twitter.com/RealBrittHughes/status/1914721343301431402?ref_src=twsrc%5Etfw">April 22, 2025</a></blockquote>
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&#8220;Umm who dyed potatoes?&#8221; Robby Starbuck said, and while he also stated that the eggs were donated, he noted that the Biden administration had blown through more than twice the number of eggs at the last Easter Egg Roll in 2024. &#8220;Also, Biden’s Admin had 64,000 eggs at the 2024 Easter Egg roll. In both cases the eggs were donated. Stop treating people like they’re stupid, it’s just insulting.&#8221;
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Umm who dyed potatoes? Also, Biden’s Admin had 64,000 eggs at the 2024 Easter Egg roll. In both cases the eggs were donated. Stop treating people like they’re stupid, it’s just insulting. 🙄 <a href="https://t.co/GxvucUbZzO">https://t.co/GxvucUbZzO</a>
&mdash; Robby Starbuck (@robbystarbuck) <a href="https://twitter.com/robbystarbuck/status/1914692586586898902?ref_src=twsrc%5Etfw">April 22, 2025</a></blockquote>
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&#8220;Show me a single person who dyed a potato for Easter,&#8221; Riley Gaines threw down the challenge.
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Show me a single person who dyed a potato for Easter <a href="https://t.co/uJ5996Bu0B">https://t.co/uJ5996Bu0B</a>
&mdash; Riley Gaines (@Riley_Gaines_) <a href="https://twitter.com/Riley_Gaines_/status/1914714791429509249?ref_src=twsrc%5Etfw">April 22, 2025</a></blockquote>
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Several people suggested that the Democrats were taking a risk in assuming that those potatoes did not identify as eggs, while others noted that on a strict one-to-one basis, potatoes might actually cost more than eggs.
&#8220;So a man can become a woman but a potato can’t be an egg? You sound like a bigot,&#8221; one said.
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So a man can become a woman but a potato can’t be an egg? You sound like a bigot.
&mdash; Magills (@magills_) <a href="https://twitter.com/magills_/status/1914326226535067916?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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&#8220;I’m increasingly certain Republicans have successfully placed one or more moles in the Dem communications apparatus,&#8221; <a href="https://x.com/BlackJackPartII/status/1914330331471364497" target="_blank" rel="noopener">another said</a>.
So where did the Democrats&#8217; outlandish claim come from? Apparently from a throwaway article published by The New York Times that was loosely based on a social media video that gave step-by-step instructions on how to dye egg alternatives.
&#8220;The @NYTimes had an absurd headline claiming Americans are dyeing potatoes due to the price of eggs this year, but the only mention of potatoes in the article was a reference to video instructions for eggs dyeing alternatives that were starting to circulate on social media,&#8221; one post read.
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The <a href="https://twitter.com/nytimes?ref_src=twsrc%5Etfw">@nytimes</a> had an absurd headline claiming Americans are dyeing potatoes due to the price of eggs this year, but the only mention of potatoes in the article was a reference to video instructions for eggs dyeing alternatives that were starting to circulate on social media. <a href="https://t.co/dboazH7QaS">https://t.co/dboazH7QaS</a> <a href="https://t.co/Ff1cvWlC5e">pic.twitter.com/Ff1cvWlC5e</a>
&mdash; Kelley K (@KelleyKga) <a href="https://twitter.com/KelleyKga/status/1914348160245256449?ref_src=twsrc%5Etfw">April 21, 2025</a></blockquote>
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The &#8220;let&#8217;s dye potatoes instead&#8221; trend actually started two years earlier, when egg prices hit record highs (an average of $4.82 per dozen) in 2022-2023. On April 2, 2023, Axios published an <a href="https://www.axios.com/2023/04/02/easter-2023-eggs-potato-prices" target="_blank" rel="noopener">article</a> titled, &#8220;Potatoes sprout as cheaper Easter egg substitute.&#8221;

President And Mrs. Trump Host Annual White House Easter Egg Roll

Democrats Mocked For Claim That Americans Dyed Potatoes For Easter

Democratic Party

Democrats

Easter Eggs

eggs

White House

The Trump administration has received 18 trade proposals from foreign governments, White House Press Secretary Karoline Leavitt announced Tuesday, indicating advancements in negotiations following President Donald Trump&#8217;s <a href="https://www.dailywire.com/news/trump-unleashes-liberation-day-tariffs" target="_blank" rel="noopener">introduction</a> of &#8220;Liberation Day&#8221; tariffs earlier this month.
&#8220;I spoke to our entire trade team this morning. There is a lot of progress being made. We now have 18 proposals on paper that have been brought to the trade team,&#8221; Leavitt told reporters during a White House press briefing.
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.<a href="https://twitter.com/PressSec?ref_src=twsrc%5Etfw">@PressSec</a> says the administration has received 18 trade proposals from foreign countries so far — and that officials have trade meetings with 34 countries this week alone. <a href="https://t.co/XyK2LCgoB0">pic.twitter.com/XyK2LCgoB0</a>
&mdash; Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/1914733472066785619?ref_src=twsrc%5Etfw">April 22, 2025</a></blockquote>
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Leavitt said Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, U.S. Trade Representative Jamieson Greer, National Economic Council Director Kevin Hassett, and White House Senior Counselor for Trade and Manufacturing Peter Navarro have meetings with representatives from 34 countries this week.
&#8220;We are moving at Trump speed to ensure these deals are made on behalf of the American worker and the American people,&#8221; Leavitt said.
Leavitt said an underreported news story from this week, in which much of the media&#8217;s coverage has been on the death of Pope Francis, was Vice President JD Vance <a href="https://x.com/RapidResponse47/status/1914649244318703818" target="_blank" rel="noopener">announcing</a> that the United States and India have finalized the &#8220;terms of reference&#8221; for a trade negotiation between the two countries.
Vance shared the <a href="https://www.foxnews.com/politics/jd-vance-champions-roadmap-toward-us-india-trade-deal-says-partnership-critical-deterring-dark-time" target="_blank" rel="noopener">news</a> during a trip to India, during which he met with the country&#8217;s prime minister, Narendra Modi.
&#8220;That is a big deal,&#8221; Leavitt said. &#8220;We know, when we look at the numbers, the monetary trade barriers and the non-monetary trade barriers from India — they have been ripping off the United States and American workers for a very long time.&#8221;
She added: &#8220;So the fact that the vice president, with Prime Minister Modi on that trip to India, announced these terms of reference, which is essentially a framework to move the ball forward to sign a good trade deal between our two nations is great progress and it speaks to the work ethic and the real labor that&#8217;s being put into this effort by the president&#8217;s trade team.&#8221;
A little more than a week after &#8220;Liberation Day&#8221; on April 2, Trump announced a 90-day pause on the tariffs for most countries, reverting to a 10% rate, while <a href="https://www.dailywire.com/news/trump-issues-90-day-pause-on-most-tariffs-raises-chinas-to-125" target="_blank" rel="noopener">increasing</a> levies on China to 145%.
Pressed on whether the new trade proposals were sufficient to extend the pause, Leavitt said, &#8220;Ask me in July when the deadline hits.&#8221;
Leavitt also provided an update in regard to China, which has <a href="https://www.cnbc.com/2025/04/11/china-strikes-back-with-125percent-tariffs-on-us-goods-starting-april-12.html" target="_blank" rel="noopener">raised</a> tariffs on U.S. goods to 125% and vowed to implement <a href="https://www.dailywire.com/news/china-vows-to-punish-countries-that-agree-to-trump-trade-deals" target="_blank" rel="noopener">&#8220;countermeasures&#8221;</a> against countries that agree to trade deals with Trump &#8220;at the expense&#8221; of its interests.
&#8220;I asked the president about this before coming out here. And he wanted me to share with all of you that we are doing very well in respect to a potential trade deal with China,&#8221; Leavitt said. &#8220;As I mentioned, there have now been 18 proposals and more than 100 countries around the world who are wanting to make a deal with the United States of America, and the president and the administration are setting the stage for a deal with China.&#8221;
She continued: &#8220;So we feel everyone involved wants to see a trade deal happen, and the ball is moving in the right direction.&#8221;

White House Press Secretary Karoline Leavitt

‘Moving At Trump Speed’: White House Touts 18 Trade Proposals So Far

India

China threatened on Monday to take &#8220;countermeasures&#8221; against countries that agree to trade deals with the United States &#8220;at the expense of China&#8217;s interests.&#8221;
The country&#8217;s warning to nations around the globe comes as the Trump administration continues negotiations on trade and tariffs. Prime Minister Narendra Modi of India — one of China&#8217;s biggest economic adversaries — is set to <a href="https://www.cbsnews.com/news/vance-modi-meeting-india-trump-tariffs/" target="_blank" rel="noopener">meet</a> with Vice President JD Vance this week in New Delhi, where the two are expected to discuss a bilateral trade deal.
A spokesman for the Chinese Ministry of Commerce <a href="https://www.mofcom.gov.cn/xwfb/xwfyrth/art/2025/art_3277f51446f143eda489a1bd5de6f72f.html" target="_blank" rel="noopener">said</a> on Monday that the United States &#8220;has abused tariffs on all its trading partners under the banner of so-called &#8216;reciprocity,&#8217; while at the same time forcing all parties to start so-called &#8216;reciprocal tariff negotiations&#8217; with it.&#8221;
&#8220;It should be pointed out in particular that China firmly opposes any party reaching a deal at the expense of China&#8217;s interests,&#8221; the Ministry of Commerce stated. &#8220;If this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner. China is determined and capable of safeguarding its own rights and interests.&#8221;
&#8220;Appeasement cannot bring peace, and compromise cannot be respected,&#8221; the communist government added.
Earlier this month, President Donald Trump froze tariffs for most countries at 10% for 90 days as many trading partners showed a willingness to come to the negotiating table. Trump&#8217;s tariff on Chinese goods, however, was increased to 145% as the United States and China traded retaliatory moves. Currently, China has imposed a 125% tariff on U.S. imports.
According to the White House, around 130 countries are lining up to meet with administration officials and hash out new deals, and last week, President Trump joined some of his top trade advisers during a meeting with Japanese leaders in Washington, D.C. Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114372350378942829" target="_blank" rel="noopener">said</a> on Sunday that &#8220;many World Leaders and Business Executives have come to me asking for relief from Tariffs.&#8221;
&#8220;It’s good to see that the World knows we are serious, because WE ARE! They must right the wrongs of decades of abuse, but it won’t be easy for them,&#8221; he added. &#8220;We must rebuild the Wealth of our Great Country, and create true RECIPROCITY. But for those who want the easiest path: Come to America, and build in America!&#8221;
China, however, continues to push back against the Trump administration&#8217;s tariffs, <a href="https://www.dailywire.com/news/china-doubles-down-on-fighting-trade-war-to-the-end-says-it-will-not-respond-to-threats" target="_blank" rel="noopener">vowing</a> to fight the trade war against the United States &#8220;to the end.&#8221;
China is also seeking to strengthen its ties to other nations that have been hit by Trump&#8217;s tariffs. In the past few weeks, Chinese President Xi Jinping has courted Vietnam and Malaysia, urging them to defend “an open and cooperative international environment,” The New York Times <a href="https://www.nytimes.com/2025/04/21/world/asia/china-tariffs-trade-warning.html" target="_blank" rel="noopener">reported</a>. Chinese officials have also reached out to Japan, South Korea, and the European Union as the trade war intensifies.

Xi Jinping

China Vows To Punish Countries That Agree To Trump Trade Deals

Communist China

President Donald Trump on Thursday called for Federal Reserve Chair Jerome Powell to cut interest rates, saying that his termination couldn&#8217;t come &#8220;fast enough.&#8221;
Trump’s call on Truth Social comes a day after Powell delivered remarks critical of the president at the Economic Club of Chicago. Trump contrasted Powell’s handling of interest rates with the European Central Bank (ECB), which announced interest rate cuts on Thursday. 
“The ECB is expected to cut interest rates for the 7th time, and yet, ‘Too Late’ Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete ‘mess!’ Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114352766082542122" target="_blank" rel="noopener">posted</a> on his social media network. “Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!”
Trump has <a href="https://truthsocial.com/@realDonaldTrump/posts/114280322706682564">repeatedly</a> called for Powell to cut interest rates, saying that the Fed chair was “playing politics” with the economy earlier this month. 
On Wednesday, Powell <a href="https://www.youtube.com/watch?v=1o_9kO0zZQg" target="_blank" rel="noopener">said</a> that he believed Trump’s tariffs would cause inflation. Trump has imposed a baseline 10% tariff on most American trading partners, a 145% tariff on Chinese goods, and select tariffs on other products, such as automobiles. 
“Tariffs are highly likely to generate at least a temporary rise in inflation,&#8221; Powell said. &#8220;The inflationary effects could also be more persistent. Avoiding that outcome will depend on the size of the effects, on how long it takes for them to pass through fully to prices, and, ultimately, on keeping longer-term inflation expectations well anchored.&#8221; 
Powell added that he was waiting “for greater clarity before considering any adjustments to our policy stance.”
“We’re always going to be aiming for maximum employment and price stability,&#8221; he said. “I do think we’ll be moving away from those goals for the balance of this year, or at least not making any progress, and then we’ll resume that progress as we can.”
Trump has said that the tariffs are generating billions in revenue for the federal government and are necessary to get more favorable trade deals for the United States. On Thursday, he <a href="https://truthsocial.com/@realDonaldTrump/posts/114353201227355474" target="_blank" rel="noopener">said</a> that “every nation” wants to meet over the tariffs, including China. The president and his staff met with Japan on Wednesday and are expected to meet with Italy on Thursday to discuss the tariffs. 
Powell&#8217;s post as chair of the Fed runs through May 2026. He previously <a href="https://www.politico.com/live-updates/2024/11/07/congress/feds-powell-says-trump-cant-fire-him-00188311" target="_blank" rel="noopener">said</a> that it would be unlawful for Trump to remove him.

President Trump Announces Nominee For Federal Reserve Chair Of The Board Of Governors

Trump Attacks Fed Chair Jerome Powell: ‘Termination Cannot Come Fast Enough’

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Inflation

Interest Rates

Jerome Powell

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