Trump's Tariff Tango: Economic Gains or Market Pain?

U.S. President Donald Trump defended his tariff policies at a Business Roundtable meeting, sparking concerns among top CEOs over potential market volatility and economic impact. Despite fears of inflation and recession, Trump remains confident in his strategies to boost domestic investment and counter unfavourable trade dynamics.

In a meeting with the CEOs of America's most influential companies, U.S. President Donald Trump stood firmly by his tariff policy, emphasizing its potential economic benefits. The gathering was part of the Business Roundtable, comprising leaders from major corporations like Apple, JPMorgan Chase, and Walmart.

Tuesday's meeting followed a drop in U.S. stocks, with the S&P 500 falling significantly due to rising tariff concerns and decreasing consumer confidence. Despite widespread economic fears, Trump remains unperturbed, promising gains for investors amid the market turbulence.

Trump also expressed intent to cut corporate tax rates and expedite environmental approvals. His aggressive tariff strategies extend to Canada, as he proposed increasing tariffs on steel and aluminum, although negotiations led to a compromise.

(With inputs from agencies.)