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U.S. President Donald Trump made striking statements regarding both foreign trade and monetary policy at a press conference he held at the White House. Emphasizing his criticism of Fed Chair Jerome Powell in his statements, Trump stated that interest rates should be lowered.
Trump claimed that the problem lies with Powell and said: “If Fed Chair Powell lowers interest rates, it would be great,” again expressing the view that the current monetary policy is insufficient.
The planned deal with India was highlighted in the trade agenda. Trump said he hopes that trade barriers with India will be completely eliminated and that the two countries are very close to a trade agreement. He also announced that official letters regarding tariffs will be sent to some countries next week. “Some countries will be disappointed by this, as they will have to pay tariffs,” he said.
The issue of Iran also arose during the meeting. Trump said he believes that Iran will not resume its nuclear program anytime soon and hopes that the country’s nuclear actions will be monitored by the International Atomic Energy Agency (IAEA) or other authoritative institutions. Noting that Iran has invested over $1 trillion in nuclear energy, Trump claimed that this system has not been properly integrated and that there are still dangerous materials on the ground. Trump said: “Iran wants a meeting,” and opened the door to diplomacy.
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