The Lower Eastern Times Opening The Third Eye
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The Japanese stock market has opened lower due to the volatile environment caused by US President Donald Trump’s rapidly changing policies regarding tax increases.
Yesterday, President Trump told his cabinet that this difficult period was inevitable but insisted that investors were pleased with his decisions.
The value of the dollar has fallen compared to European currencies and oil prices have also fallen by almost four percent.
In a situation that signals the continuation of trade tensions between the United States and China, Chinese state-owned media outlets have begun issuing messages urging its citizens to be prepared for the economic challenges that will arise from the ongoing retaliatory tariff war between the world’s two largest economies.
White House spokeswoman Karoline Leavitt, speaking to Fox News, emphasized the US government’s position of protecting national interests by putting the United States first economically and encouraging the return of jobs from abroad.
“The policy of this White House is to put America first and restore jobs,” said Leavitt.
“We will no longer allow low-priced products from China to enter our market in large quantities while they prevent our products from entering theirs.”
According to the spokesman, the United States cannot continue to thrive economically if it continues to “boost and empower China” by allowing large imports of goods from the Asian nation.
Leavitt added that despite the situation, there is “great reason to be optimistic about the US economy,” noting that many companies will begin to benefit more from doing business within the nation’s borders.
In a recent move, the US White House has made it clear that the new tariffs on goods from China will be 145 percent as opposed to the 125 percent previously announced.
White House officials have explained that the level mentioned by President Donald Trump on Wednesday is an increase of 20% imposed a few weeks ago on goods from China.
By: BBC
