Yeliz Akmaca 
U.S. President Donald Trump made strong remarks regarding the current economic agenda. Addressing interest rate policies and potential Federal Reserve chair nominees, Trump also signaled upcoming tax decisions targeting the pharmaceutical and technology sectors.
“Powell Was Too Late, Warsh and Kevin Are Excellent”
Trump harshly criticized current Fed Chair Jerome Powell, claiming that interest rate cuts came too late. He emphasized that Warsh and Kevin are leading contenders for the Fed chair position, stating, “We’ll announce the Fed decision soon. Bessent is off the list. I might consider Kugler to fill the gap,” narrowing down his list of candidates.
Trade Deals with Asia Praised, EU Faces Tariff Threats
Trump praised trade agreements with countries like Japan, South Korea, Vietnam, and Indonesia, while issuing stern warnings to the European Union. “If the EU doesn’t meet its obligations, we’ll impose a 35% tariff,” he said, also highlighting profits from the pharmaceutical sector:
“Switzerland is making a fortune from pharmaceuticals. We’ll start with small rates and impose taxes too.”
Trump also addressed India:
“India imposes the world’s highest import tariffs. They’re also buying large amounts of oil from Russia. Soon, we’ll increase tariffs on India. India is feeding Russia’s war machine. They’ll face the highest tariffs.”
He further stated that a major announcement on the semiconductor and chip sector is coming next week.
“We’ll Earn Trillions from Tariffs, and We Have Our Own Oil”
Turning to energy policy, Trump claimed that the U.S. is now energy independent: “I don’t care about oil prices—we’re producing plenty.” He argued that tariffs are generating trillions in revenue: “We’re targeting $600 billion in revenue from the European Union,” sharing his economic optimism for the new era.
Regarding China, Trump offered both criticism and cautious optimism. “We’re close to a deal with China,” he said, adding:
“China is dependent on the U.S. Believe me, they were collapsing, on the brink of bankruptcy… But we have a good relationship with President Xi.”
With these remarks, Trump painted a bleak picture of China’s economy while emphasizing his personal rapport with President Xi Jinping.
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