President Donald Trump has warned of “transition problems” as the global tariff war rages on, causing markets to falter.
What Happened: Trump admitted the possibility of difficulties during a cabinet meeting. Despite the upheaval, he remained positive about the eventual outcome, saying, “There’ll be a transition cost and transition problems, but in the end, it’s going to be a beautiful thing,” reported CNBC.
“We’re doing again, what we should have done many years ago,” stated the President.
The President’s remarks followed the White House’s announcement that tariffs on certain Chinese goods would skyrocket to 145%. This is on top of an existing 20% tariff on fentanyl producers. Despite the escalating trade war, Trump is still hopeful for a deal with China.
Meanwhile, the stock market had another volatile day on Thursday, with substantial losses …