US President Donald Trump vows that tariffs will create jobs

Joshua Gibson FXStreet

United States (US) President Donald Trump spoke to reporters on Tuesday, reiterating his insistence that his administration's tariff proposals will increase government revenues, create jobs, and counter-intuitively lower taxes, three key components of all government trade policy that tend to move in opposite directions of each other. Trump also reiterated that the European Union (EU) has been "unfair" to the US on trade terms, though Donald Trump categorically refuses to go into the exact details of this claim.

Key highlights

Mexico and Canada have stepped it up a lot.

We've made a lot of progress on Ukraine. We are in deep discussions with Russia and Ukraine, and it's going well.

Making a lot of progress on the Middle East.

Russia and Ukraine will get together on a maritime ceasefire.

Other countries are involved in the process for monitoring the ceasefire.

There's another business announcement coming tomorrow.

The EU has been freeloading and is terrible on trade.

I have been very fair on tariffs.

April 2 tariffs are "set".

Prices on gasoline, eggs, and groceries are down.

Tariffs will create more jobs.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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