President Donald Trump delivers remarks in the Oval Office of the White House in Washington, Friday, March 7, 2025. (Pool via AP)
After a brutal stock market selloff because of his tariff threats, President Trump faces pressure Tuesday to show he has a legitimate plan to grow the economy instead of perhaps pushing it into a recession.
Trump was set to deliver an afternoon address to the Business Roundtable, a trade association of CEOs that during the 2024 campaign he wooed with the promise of lower corporate tax rates for domestic manufacturers. But his plans for tariffs on Canada, Mexico, China, steel and aluminum — with more to possibly come on Europe, Brazil, South Korea, pharmaceutical drugs, copper, lumber and computer chips — would amount to a massive tax hike.
The stock market’s vote of no confidence over the past two weeks puts the president in a bind between his enthusiasm for taxing imports and his brand as a politician who understands business based on his own experiences in real estate, media and marketing.
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