U.S. President Donald Trump expressed confidence that the United States will not enter a recession but will experience notable economic growth. These statements contrast with his previous reluctance to foresee the impact of his economic policies and have emerged amid concern in the financial markets following a significant stock market drop.
By denying the possibility of a recession, Trump indicated that the country will experience a great boom, despite normal fluctuations in the markets. At the same time, the president downplayed the stock market drop last Monday, the largest since he took office, justifying his stance by arguing that it was necessary to rebuild the country.
The president also blamed his successor, Joe Biden, for the current economic situation, claiming that he left him with a disastrous economy upon leaving office. Trump stated that Biden inherited a market with severe problems while recalling his own experience during his first term and the challenges he faced.
While Trump oversaw Tesla electric vehicles at the White House, he expressed his intention to buy one in support of entrepreneur Elon Musk. Amid a drop of more than 50% in Tesla's stock value, Trump showed his support for Musk despite the criticism received.
Regarding the stock markets, the S&P 500 index fell by 2.7% and the Nasdaq by 4%, reaching their lowest levels in months. Despite this situation, Trump has reaffirmed his stance on tariffs, considering them beneficial, and has maintained his policy in this regard despite criticism and uncertainty in the financial markets.
