Donald Trump On Backfoot? Asks Fed To Cut Rates

US President Donald Trump took to Truth Social on Monday with a fiery post, doubling down on his tough trade stance and accusing China and other nations of exploiting the United States.

In his statement, Trump claimed the US economy is on solid footing, asserting, “Oil prices are down, interest rates are down, food prices are down,” and declaring there is “NO INFLATION.” He also urged the Federal Reserve to cut interest rates, calling the central bank “slow moving.”

Defending his controversial tariff policies, Trump said the US is collecting “billions of dollars a week” from countries that have long “abused” American trade. He singled out China as “the biggest abuser of them all,” while criticizing Beijing’s recent move to raise tariffs by 34%.

“[China is] not acknowledging my warning for abusing countries not to retaliate,” he wrote, placing the blame on past American leaders for allowing foreign nations to take advantage of the US economy for decades.

Trump’s post comes amid mounting global market volatility and renewed fears of a trade war. His remarks reinforce his aggressive “America First” approach as he eyes a return to the campaign trail.

It may be recalled that Trump, on 4th July, has urged Federal Reserve Chair Jerome Powell to lower interest rates, arguing it would boost the economy.

Also Read: Trump Urges Fed to Cut Interest Rates Amid Market Turmoil | Republic World

In a post on Truth Social, Trump claimed that inflation and energy prices were down while job growth was up. “This would be a PERFECT time for Fed Chairman Jerome Powell to cut interest rates. He is always ‘late,’ but he could now change his image, and quickly,” he wrote.

His comments followed a steep sell-off in global markets. In Asia, Hong Kong’s Hang Seng index dropped over 13%, Australia’s ASX 200 shed more than 6%, and Japan’s Nikkei tumbled nearly 8%. Back home in India, the Sensex fell 2.95%, while the Nifty 50 declined 3.24%.

Trump has previously warned countries to negotiate with the United States and has cautioned against the imposition of retaliatory measures on Washington.