President Donald Trump cast his tariffs as a political winner in an attempt to assuage fears from wealthy Republican benefactors about the fallout of his signature trade policy just hours before even more sweeping tariffs were due to take effect. “We’re going to win the midterm elections, and we’re going to have a tremendous, thundering landslide. I really believe that,” Trump said Tuesday at a fundraising gala for House Republicans at the the National Building Museum in Washington.

Trump’s appearance comes as lawmakers and business leaders fret over the White House’s sweeping import levies on trading partners, which have prompted a large market selloff and spurred predictions about a looming recession amid higher prices for consumers. The event offered Trump a chance to speak directly to lawmakers and the party’s major contributors to soothe their jitters about the market and economic reaction to his trade plans.

The president was unbowed. He cast his tariffs as a moneymaker for the US government, said his announcements had sparked negotiations from trading partners offering concessions they never would have floated otherwise, and promised his long-planned “major” tariff on pharmaceutical imports would be announced “very shortly.”

——–

Watch Bloomberg Radio LIVE on YouTube

Weekdays 7am-6pm ET

WATCH HERE: http://bit.ly/3vTiACF

Follow us on X: https://twitter.com/BloombergRadio

Subscribe to our Podcasts:

Bloomberg Daybreak: http://bit.ly/3DWYoAN

Bloomberg Surveillance: http://bit.ly/3OPtReI

Bloomberg Intelligence: http://bit.ly/3YrBfOi

Balance of Power: http://bit.ly/3OO8eLC

Bloomberg Businessweek: http://bit.ly/3IPl60i

Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:

Apple CarPlay: https://apple.co/486mghI

Android Auto: https://bit.ly/49benZy

Visit our YouTube channels:

Bloomberg Podcasts: https://www.youtube.com/bloombergpodcasts

Bloomberg Television: https://www.youtube.com/@markets

Bloomberg Originals: https://www.youtube.com/bloomberg

Quicktake: https://www.youtube.com/@BloombergQuicktake

Similar Posts