“President Donald Trump’s senior advisers downplayed fresh economic turbulence Monday as the administration’s escalating trade war deepened a sell-off on Wall Street and renewed fears about the stability of the U.S. economy,” the Washington Post reports.
“As all three major U.S. stock indexes slumped, Trump’s team projected confidence that the volatility would prove temporary and that an economic boom set off by tax cuts would follow later this year.
But investors have been unsettled by Trump’s willingness to impose tariffs that go even beyond his sweeping campaign promises, with hundreds of billions in new import duties already levied and trillions more poised to take effect on April 2.”Politico: Trump’s business acumen has long been his armor. It’s being put to the test.