‘Wolf of Wall Street’ Jordan Belfort joins ‘Fox & Friends’ to close concern about the economy after President Donald Trump refused to shut down fears due to possible recession
President Donald Trump’s latest Tariff excursions at key trade partners broke out and criticized criticism from political opponents. But entrepreneur Jordan Belfort, known as the “Wolf Wall Street”, says there is no reason to panic.
“All of us exploit us,” Belfort claimed “Fox and friends, ” claiming that the tariffs will ultimately strengthen American production.
“There will be corrections in markets. So, I think you need to look at it and say, so what do these tariffs do for the long -term fundamental health of the economy? Because this is what really brings long -term value in the stock market.”
The stock hit on Thursday, with S&P 500 Correction Territory Closing, As concern continued on the potential trade war. Despite the market reaction, Trump remained unwavering, telling the White House journalists that they would “not bend” on the tariffs at all. Asked if he would re -examine the latest circle that will take effect on April 2, he answered the company “No.”
Trump’s plan includes a 25% of tariffs on the imports of steel and aluminum, along with the proposed 200% of tariffs on European champagne and other alcoholic products. The move encouraged the rapid reaction of the main American trade partners, including Canada, China and the European Union. Canada has already avenged her own additional tariffs to the United States and vowed that she would not give up the escalated trade war.
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Tariff’s president described as a way to return American economic power, saying that the country was losing wealth and produces jobs for decades.
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“We will bring back our wealth and will bring a lot of companies that have left,” Trump said on Wednesday.
Belfort repeated these feelings, claiming that renewing domestic production is crucial for the long -term stability of the country.
“You can’t just be a consumer nation,” he said.
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“It’s like you’ve been on sugar for 50 years. At some point you are bleeding wealth from the ground.”
Critics warn that tariffs could do more harm than benefits. Many economists claim that trade wars increase the costs for consumers, stress relations with allies and can slow down global economic growth. Some business leaders fear the retaliation of the tariff of other countries could hurt US exports, especially in industries like agriculture and production.
Despite its uncertainty, Belfort remains optimistic.
“I think the only people who panic are probably, you know, on CNBC who are trying to make everything panic,” he said.
“We are constantly losing in a trade deficit. And over time, it causes huge problems in the United States. This needs to be reset.”
Former Wall Street mediator Jordan Belfort joined ‘The Brian Kilmeade Show’ to discuss his investment on the investment, economy and trial of Samuel Bankman-Freda.
Belfort said Trump’s critics will oppose any policy he is trying to implement.
“Whatever he does, they will say that they hate him,” that’s the worst thing in the world. “… you just start to ignore it.
