Overview
- In Friday posts on Truth Social, President Trump said tariffs made the United States “wealthy and powerful” and claimed the stock market is “stronger than ever.”
- U.S. stocks hit fresh highs after a cooler CPI report, and Trump pointed to the rally to support his case that tariffs are boosting markets, Benzinga reported.
- The administration has lifted duties to levels not seen since the 1930s, including a proposed 100% tariff on Chinese goods slated for Nov. 1 that Trump has described as a pressure tool ahead of talks with Xi Jinping in South Korea next week.
- Market reactions have been uneven, with one recent Trump post coinciding with roughly a 1.2% late‑morning drop in the S&P 500, according to WION.
- Some companies report managing higher import costs through price increases or cuts, with Volvo highlighting faster‑than‑planned savings alongside a sharp share surge after earnings.