“Wolf of Wall Street” Jordan Belfort joined “Fox & Friends” to close the economy after President Donald Trump refused to suppress the fears of a possible recession
President Donald Trump's latest increase in President Donald Trump has culminated in businesses and attracted criticism from political opponents. But entrepreneur Jordan Belfort, known as “Wolf of Wall Street”, says there is no reason to panic.
“Everyone uses us,” Belfort argued “Fox & Friends, “ He claims that tariffs will eventually strengthen American production.
“There will be repairs in the markets. So I think you have to look around and say what these tariffs are doing for the long -term basic health of the economy? Because that's what the long -term value really controls on the stock market.”
The stock market hit Thursday with S&P 500 closure in the correction area, How concerns about the potential trade war continued. Despite the reaction on the market, Trump remained persistent and told the White House reporters that he was not moving at the tariffs at all. When he asked if he would consider the latest rounds that would come into force on April 2, he responded with “No.”
Trump's plan includes a 25% tariff on imports of steel and aluminum together with the proposed 200% tariff on European Champagne and other alcohol products. This step caused Swift will from the US main business partners, including Canada, China and the European Union. Canada has already rewarded its own other tariffs in the United States and promised to not return from the growing trade war.
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The President described tariffs as a way to recruit US economic power and said that the country has been losing wealth and production of jobs for decades.
Rep. Tom Emmer, R-Minn.
“We'll take our wealth back and take back many companies that have gone,” Trump said on Wednesday.
Belfort repeated this sentiment and claimed that the restoration of domestic production is decisive for the long -term stability of the country.
“You can't just be a consumer nation,” he said.
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“It's like being on sugar high for 50 years. At some point you bleed wealth from the ground.”
Critics warn that tariffs could cause more damage than good. Many economists argue that trade wars increase consumer costs, relationships with allies and can slow global economic growth. Some business leaders are afraid of retaliatory tariffs from other nations could harm US exports, especially in industries as agriculture and production.
Despite the uncertainty, Belfort remains optimistic.
“I think the only people who panic are probably, you know, on CNBC to try to get every panic,” he said.
“We are still losing on a business deficit. And over time it causes massive problems in the United States. It needs to be reset. ”
Former Broker on Wall Street Jordan Belfort joined “The Brian Kilmeade Show” to discuss his view of investing, economy and court of Samuel Banman fried.
Belfort said that Trump's critics would be against any policy they were trying to implement.
“Whatever he does, they say they hate it,” it's the worst thing in the world. “… You just start ignoring it.
