President Donald Trump’s senior counselor for trade Peter Navarro said the crashing stock market will turn around soon.
Navarro said it was ‘finding a bottom now’ and added: ‘I guarantee no recession.’
It came amid a growing backlash from Republicans over the economic impact of Trump’s sweeping global tariffs.
China blasting what it called ‘blackmailing’ by the United States and vowed ‘countermeasures.’
‘If the US insists on going its own way, China will fight it to the end,’ a spokesman for Beijing’s commerce ministry said on Tuesday.
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Peter Navarro ‘guarantees’ no recession and Dow will hit 50,000
It’s finding a bottom now. It’s finding a bottom now, but look, here’s the thing, it’s going to shift over and it’s going to be companies in the S&P 500 who are the first to produce here.
Those are the ones going to lead to recovery, and it’s going to happen. Dow 50,000, I guarantee that, and I guarantee no recession. Because, when we pass the biggest, broadest tax cut in history within a matter of months, that’s going to be a great stimulus. There’s not going to be any inflation. We’ve already had a significant drop, a huge drop in oil prices. We’re going to have have lower yields and mortgage.
China will ‘fight to the end’ in trade war
If the US insists on going its own way, China will fight it to the end.
