Trump tariff chief ‘guarantees’ stock market boom soon as China vows all-out trade war: Live updates

President Donald Trump’s senior counselor for trade Peter Navarro said the crashing stock market will turn soon.

It’s finding a bottom now. It’s finding a bottom now, but look, here’s the thing, it’s going to shift over and it’s going to be companies in the S&P 500 who are the first to produce here.

Those are the ones going to lead to recovery, and it’s going to happen. Dow 50,000, I guarantee that, and I guarantee no recession. Because, when we pass the biggest, broadest tax cut in history within a matter of months, that’s going to be a great stimulus. There’s not going to be any inflation. We’ve already had a significant drop, a huge drop in oil prices. We’re going to have have lower yields and mortgage.

The anchor mocked himself on The Five on Monday after showing clips of Democrats criticizing Trump for playing golf while global markets lost trillions over the weekend.

Watters said Trump playing golf during the crisis ‘is not a middle finger to middle America – that’s a middle finger to all these foreign countries who are trying to get on the phone and negotiate these tariffs down.’

Warren Buffett is the only top 500 billionaire to profit from President Donald Trump’s tariffs that have panicked the global stock market.

New figures from the Bloomberg Billionaires Index shows that 499 of the world’s 500 richest men have seen their fortunes decline since Trump took office and sent the global economy into turmoil with his destructive trade war.

First Buddy Elon Musk, who over the weekend made direct yet unsuccessful appeals to the president to reverse tariffs, has experienced a $130billion year-to-date loss in his net worth, according to the data.

China blasted what it called ‘blackmailing’ by the United States over tariffs.

It vowed ‘countermeasures’ if Washington imposes tariffs on top of the 34 percent extra that are already due to come into force on Wednesday.

Beijing’s commerce ministry said:

If the US insists on going its own way, China will fight it to the end.