Astrid Lund - Betty MacDonald fan club organizer: "Who elected this unspeakable man? Poor U.S.! Poor world!!!!!!!"

Astrid Lund - Betty MacDonald fan club organizer: "Who elected this unspeakable man? Poor U.S.! Poor world!!!!!!!"--------------------------------------------------- Frankfurter Rundschau US economy threatened by recession – Even Trump's Treasury Secretary doesn't rule out economic downturn Bona Hyun • 9 hours • 3 minutes reading time As Trump escalates the trade war, fears of a recession are growing in the US. Investors in particular are unsettled. Now Trump's Treasury Secretary is speaking out. Washington D.C. – Donald Trump's tariff policy is causing turmoil around the world. The US economy is also suffering from his course: Concerns are growing that, in the worst-case scenario, America is threatened by a recession. Even Trump's Treasury Secretary is apparently no longer sure whether the American economy could recover in the future. US economy facing recession? Trump's Treasury Secretary Cannot Guarantee Exclusion Trump's tariff policy and fears of a recession have scared off many investors in the US. The back and forth over the tariffs initiated by US President Trump led to considerable turbulence and unrest in the markets. Tariffs were first loudly announced, but then postponed. Drastic Measure in the Trade War – How Canada Could Increase Pressure in America The consequences are clearly visible on the stock market: On March 11, 2025, the technology-heavy Nasdaq 100 index recorded its largest daily loss since 2022 (down four percent), while shares of the electric car manufacturer Tesla, led by Elon Musk, lost more than 15 percent. Tesla investors were concerned that Musk's work for the Trump administration would distract him from managing his companies, which include Tesla, SpaceX, X, and xAI. Despite these developments, Treasury Secretary Scott Bessent appears confident. "I'm not worried about the markets." "In the long run, the markets will perform well if we implement good tax policy, deregulation, and energy security," Bessent said in an interview with NBC News on "Meet the Press." Nevertheless, Bessent cannot completely rule out the possibility of a recession under Trump's leadership. Trump's tariff policy has consequences for the US economy – President himself makes a controversial admission "You know there are no guarantees. Who would have predicted Covid, right?" Bessent said. "So I can predict that we will take robust and lasting measures. And there may be adjustments," he said, adding that the country needs to be weaned off "massive government spending." Trump had already made similar comments. When asked about the possibility of a recession, Trump did not explicitly rule it out. "I hate predicting these things," he said. "It's a transition period because what we're doing is very big. We're bringing prosperity back to America." This is a big deal... it takes some time, but I think it should be great for us." But real insight into the chaos of the Trump administration is provided by the fact that Trump's own Commerce Secretary, Howard Lutnick, expressed a completely different view. "There will not be a recession in America," Lutnick told NBC News' "Meet the Press." Trump stirs up EU turmoil with tariffs - trade war could escalate With his tariffs, the US president triggered a trade war with the West - just recently, the EU and Canada retaliated with retaliatory tariffs after Trump's global tariffs on steel and aluminum went into effect. The European Union announced a two-stage response that will target up to $28 billion in US exports. Canada announced tariffs of 25 percent on $20.7 billion. Trump then threatened the EU with 200 percent tariffs on wine and champagne if the European Union did not repeal its announced surcharges on whiskey. In a post on his online network Truth Social, Trump targeted French products in particular. He demanded that the EU tariffs be lifted "immediately." (bohy)