“ Wolf of Wall Street ” Jordan Belfort joins ‘Fox & Friends’ to stop concerns about the economy after President Donald Trump refused to repress fears concerning a possible recession
President Donald Trump’s latest tariff hikes on the main business partners have shaken businesses and aroused criticism from political opponents. But entrepreneur Jordan Belfort, known as “Wall Street wolf”, says that there is no reason to panic.
“Everyone takes advantage of us,” said Belfort “on”Fox & Friends, “ Affirming that prices will finally strengthen American manufacturing.
“There will be corrections on the markets. So, I think you have to look beyond and say, well, what do these long-term fundamental health prices do? Because this is what really stimulates long-term value on the stock market.”
The stock market took a hit on Thursday, with the S&P 500 fence in correction territory, While concerns about a potential trade war have continued. Despite the reaction of the market, Trump remained firm, telling journalists from the White House that he “is not going to look at the prices at all. When he was asked if he recupeted the last filming to take effect on April 2, he replied with a company “No.”
Trump’s plan includes a 25% price on steel and aluminum imports, as well as a proposed 200% price On Europe Champagne and other alcoholic products. This decision caused a rapid reaction to the main American business partners, including Canada, China and the European Union. Canada has already retaliated with its own additional rates in the United States and has promised not to retreat from the climbing of the trade war.
Trump teases prices against Mexico, Canada could go higher in the future
The president described prices as a way to recover American economic power, saying that the country has lost richness and manufacturing jobs for decades.
Representative Tom Emmer, R-minn., Decomposes President Donald Trump’s economic agenda on “earning money”.
“We are going to resume our wealth and we will take up a lot of companies that have gone,” said Trump on Wednesday.
Belfort echoed this feeling, arguing that restoration of interior production is essential for the country’s long -term stability.
“You can’t just be a consumer nation,” he said.
Canada announces $ 21 billion in new American prices as the trade war increases
“It’s like being in sugar for 50 years. At one point, you are bleeding the wealth of the country.”
Critics warn that prices could do more harm than good. Many economists argue that commercial wars increase costs for consumers, tend relations with allies and could slow global economic growth. Some business leaders fear that the prices of reprisals from other nations can affect American exports, in particular in Agriculture and manufacturing.
Despite uncertainty, Belfort remains optimistic.
“I think the only people who panic are probably, you know, on CNBC trying to panic everyone,” he said.
“We continue to lose the trade deficit. And over time, that is to say massive problems in the United States. It must be reset.”
Former Wall Street broker Jordan Belfort joined “The Brian Kilmeade Show” to discuss his point of view on the investment, economy and trial of Samuel Bankman Frit.
Belfort said Trump’s criticism will oppose any policy he is trying to implement.
“Whatever he does, they will say that they hate:” It’s the worst thing in the world. “… you start to ignore it.
