Donald Trump loses across the board – "I'll be very nice"

BERLIN LIVE Donald Trump loses across the board – "I'll be very nice" Marcel Görmann • 19 hours • 2 minutes read The Tuesday after Easter was a bitter day for Donald Trump! In light of the stock market turmoil triggered by his tariff policy, the US President is coming under increasing pressure. Now he is significantly backtracking in the trade war with China and has also lost the power struggle with Federal Reserve Chairman Jerome Powell. As if all that weren't enough, Elon Musk now also appears to be quitting his government team. The tech billionaire wants to focus more on his crisis-ridden company Tesla. China, Fed Chairman, Elon Musk: Trump waves the white flag On Tuesday, it was announced that Tesla's profits plummeted by 71 percent in the first quarter of 2025. Elon Musk's car company has suffered enormous damage to its reputation. The billionaire was already one of Donald Trump's closest allies during the election campaign and donated more than $250 million. Since taking office, Musk has worked for his administration, radically cutting government spending as head of the Department of Government Efficiency (DOGE). However, Musk now plans to work in this position only part-time and focus more on Tesla. This appears to signal his departure from Washington. "We'll be very nice" to China In the trade conflict with China, Trump is suddenly striking a very conciliatory tone. After the People's Republic countered his tariff escalation and refused to back down, the US president is speaking subduedly. "We'll be very nice," Trump said of negotiations with Beijing at the swearing-in of the new Securities and Exchange Commission chairman, Paul Atkins. "It's going to be a fair deal for everyone, and it's going to be, I think, a fairly quick process." According to media reports, Trump's Treasury Secretary Scott Bessent had already promised an imminent de-escalation of the tariff dispute with China in an internal meeting. Bessent said the tariffs were unsustainable at their current level. Trump has therefore completely overstepped the bounds with his 145 percent tariffs on China. Lost Power Struggle Against Fed Chairman Another defeat for Trump: He has recently repeatedly publicly attacked Federal Reserve Chairman Jerome Powell. On Easter Monday, he called him a "loser" and threatened to fire him if Powell did not immediately lower interest rates. Powell considers this step too early. Trump has now lost the power struggle. By attacking the independence of the US Federal Reserve (Fed), Trump caused renewed unrest on the US stock markets on Monday. Significant price losses followed. Apparently, this is getting too hot for Trump. On Tuesday, he announced that he has "no intention" of firing Powell. Although he would like to see him be a bit more active with interest rates.