Trump Uncertain on Japan Trade Agreement
(MENAFN) US President Donald Trump expressed skepticism on Tuesday about securing a new trade agreement with Japan, stating he remains unsure whether a deal will materialize.
“We've dealt with Japan. I'm not sure we're going to make a deal. I doubt it with Japan,” Trump told reporters aboard Air Force One during his return flight from Florida.
He further emphasized the difficulty of negotiating with Japan, saying, “They're very tough.”
Although Japan is in dire need of rice, Trump pointed out that Japan has refused to accept it, adding, “They won't take rice. They won't take other products that we have.”
In regard to upcoming trade negotiations, Trump made it clear that he has no intention of extending the July 9 deadline for countries to finalize agreements with the US. “No, I'm not thinking about the pause. I'll be writing letters to a lot of countries,” he stated.
Turning his attention to the Federal Reserve, Trump criticized the leadership of Chairman Jerome Powell, accusing him of hindering economic growth. “If our interest rate was three points lower, that's almost a trillion dollars in cost,” Trump remarked, calling Powell a “moron.”
The president also revealed that he has “two or three top choices” in mind to replace Powell.
Trump has consistently called for the Federal Reserve to lower interest rates, drawing comparisons to the actions of European central banks, and warned that any delays could potentially slow the US economy.
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