As stock market continues plummeting over tariffs, Trump spends the day
at his golf course
[April 05, 2025]
By FATIMA HUSSEIN, CHRIS MEGERIAN and STEPHEN GROVES
WEST PALM BEACH, Fla. (AP) — Two days after sending the economy reeling
by announcing widespread tariffs, President Donald Trump insisted his
trade policies will never change as he remained ensconced in a bubble of
wealth and power in Florida.
He woke up on Friday morning at Mar-a-Lago, his private club in Palm
Beach, and headed to his nearby golf course a few miles away after
writing on social media that “THIS IS A GREAT TIME TO GET RICH."
Several supporters stood on the sidewalk as Trump, wearing his signature
red “Make America Great Again” hat and white polo shirt, glided down a
street lined with palm trees. They waved to him and he waved back, part
of a ritual that plays out every weekend that he's in town.
The Republican president was not expected to appear publicly, although
he's scheduled to attend a candlelit dinner for MAGA Inc., an allied
political organization, on Friday evening. He spent Thursday in Miami at
a different one of his golf courses, where he attended a Saudi-funded
tournament. He landed in Marine One and was picked up in a golf cart
driven by his son Eric.
Trump has often proved impervious to the kind of scandals or gaffes that
would damage another politician, but his decision to spend the weekend
at his gilded properties could test Americans' patience at a time when
their retirement savings are evaporating along with the stock market.
The tariffs are expected to increase prices by thousands of dollars per
year and slow economic growth, and there are fears about a potential
recession.
Democrats called out Trump for being in a “billionaire bubble," as Sen.
Chuck Schumer put it, while millions watched their investments sink.
“While the American people are trying to put food on the table, I see
that Donald Trump’s out there playing golf,” said Sen. Ben Ray Luján, a
Democrat from New Mexico. “The president should be listening to people
across the country. Maybe he should go into a grocery store, do some
walking, talking to folks.”
Federal Reserve Chair Jerome Powell said Friday that the tariffs were
“significantly larger than expected” and are “highly likely” to cause
more inflation — at least in the short term but possibly in the long
term as well.
However, Trump has described his policies as a painful yet necessary
step to encourage companies to relocate their operations to the United
States. Treasury Secretary Scott Bessent told Tucker Carlson in an
interview released Friday that “I think we have to try this, and I have
a high confidence ratio it’s going to work."
The president spent Friday morning defending himself on Truth Social,
his social media platform, and vowing to stay the course.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING
MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE,” he wrote.
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President Donald Trump arrives at the Trump International Golf Club,
Friday, April 4, 2025, in West Palm Beach, Fla. (AP Photo/Alex
Brandon)
Although experts have harshly criticized the tariffs, he's found some
support on TikTok. He shared a video that said “Trump is crashing the
stock market” and “he’s doing it on purpose” as part of a “secret game
he’s playing, and it could make you rich.”
The video featured a supposed quote from legendary investor Warren
Buffett praising Trump, but Buffett's company issued a statement saying
it was fabricated. The video also said that Trump's goal is to push the
Federal Reserve to lower interest rates, something that the president
explicitly called for later in the morning.
“This would be a PERFECT time" for Powell to cut interest rates, he
wrote. “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”
With foreign leaders scrambling in response to Trump's announcement this
week, the president lashed out and looked to cut deals.
He said he spoke with Vietnamese leader To Lam and claimed Vietnam wants
to eliminate its tariffs on U.S. goods if it can make a deal with the
U.S.
He also criticized China for announcing its own tariffs on U.S. imports.
“CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD
TO DO!” he wrote.
Republicans suggested that Trump's policies would be the start of a
parley with foreign countries.
“The president is a dealmaker if nothing else, and he’s going to
continue to deal country by country with each of them,” said Sen. John
Barrasso of Wyoming. He added that Treasury Secretary Scott Bessent had
told Senate Republicans this week that the tariffs would be a “high
level mark with the ultimate goal of getting them reduced” unless other
countries retaliate.
Meanwhile, Trump also celebrated a new report showing the U.S. added
228,000 jobs in March, beating expectations. Although the numbers were a
snapshot of the economy before the tariff announcement, Trump claimed
vindication, saying they already show his moves are working.
“HANG TOUGH," he wrote. "WE CAN’T LOSE!!!”
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Megerian and Groves reported from Washington.
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