President Donald Trump shared a TikTok video on his Truth Social account that asserted that he is crashing the stock market intentionally.
“Trump is crashing the stock market by 20% this month, but he’s doing it on purpose. This is why Warren Buffett just said Trump is making the best economic moves he’s seen in over 50 years,” the narrator of the video said.
“Here’s the secret game he’s playing, and it could make you rich. So why is he doing this? To push cash into Treasuries, which forces the Fed to slash interest rates in May, and those lower rates give the Fed the ability to refinance trillions of debt very inexpensively. It also weakens the dollar and drops mortgage rates,” he said.
“It’s a wild chess move, but it is working. You’re probably wondering: What about his tariffs?” the narrator continued.
“It’s a genius play. It actually forces companies to build here to dodge them. It also forces farmers to sell more of their products here in the U.S. to bring grocery prices way down- we’ve already seen this with eggs. Now, remember, 94% of all stocks are owned by 8% of Americans. So Trump is taking from the rich, short term, and handing it to the middle class via lower prices,” he said.
Trump announced on Friday morning that Vietnamese leader To Lam is willing to eliminate tariffs to avoid punishing new U.S. duties imposed on the Southeast Asian nation’s imports.
“Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future,” Trump wrote.
“News of the call, which Trump posted about on social media, sent stocks of companies that make some of their goods in Vietnam higher. Shares in Nike, for example, jumped more than 4%. The Trump administration had levied tariffs of 46% on Vietnam earlier this week. Trump said Friday he looked forward to meeting with To Lam in the near future,” the Wall Street Journal reported.
This comes as the U.S. economy boomed in March, adding jobs at a faster pace than in February despite additional economic uncertainty over Trump’s tariff policies.
The Labor Department said on Friday that employers added 228,000 jobs in March, which was more than the 135,000 jobs that LSEG economists thought would be added.
The unemployment rate was 4.2%, which was a little higher than a month ago and higher than what economists thought it would be. It was decided that the number of jobs added in January and February had been wrong. In January, the number of jobs added was lowered from 125,000 to 111,000, while in February, it was lowered from 151,000 to 117,000.
Altogether, the changes bring down the number of jobs by 48,000 from what was initially reported.
In March, the private sector added 209,000 jobs, which is a lot more than the 127,000 jobs that LSEG economists thought would be added.
In March, the government added 19,000 jobs. In this sector, federal employment fell by 4,000 jobs in March, following a drop of 11,000 jobs in January. According to the Bureau of Labor Statistics, workers who are on paid leave or who are getting severance pay are still counted as employed in the establishment survey.
The manufacturing sector added 1,000 jobs last month, which was less than the 4,000 jobs that LSEG economists thought it would add.