The billionaire criticized Trump's customs. “The moment has come to admit a colossal mistake”
– The market response to last week's American duties was both predictable and avoided. Even if you agree with the assumptions of these tariffs, you should make every effort to give American companies enough time to adapt – writes Richard Branson on X.
He pointed out that rapid actions meant that “now financial markets around the world are in a state of free decline, which has catastrophic effects for ordinary Americans and the rest of the world. Retirement savings will be destroyed on a large scale” – he emphasizes.
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– Because the dollar is weakening, consumer prices in the US will rise. As a result countless small and medium -sized enterprises go bankrupt. This is not a victorious long -term strategy. The US government may still reverse the situation, but it must take action in the next few hours – says Branson.
– The moment has come to admit a colossal mistake and change the course. Otherwise, America is waiting for many years – the billionaire appeals.
Richard Branson is the owner of low -cost airlines Virgin Atlantic, he is also a shareholder of Virgin Media and Virgin Galactic, which is to offer tourist flights to space and Virgin Oceanic from tourism in the ocean depths. It is worth noting that the entry on X Branson divided it into parts, i.e. he did not buy a commercial package on the website belonging to Elon Musk, which allows for longer entries.
Declines in the action in New York
Only during the last week the main index of the New York stock exchange fell by over 13 percent, of which on Monday it loses 1.7 percent. It is difficult to combine with great strokes on the American Stock Exchange in history, those were much more intense, but nothing has yet been said.
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Peter Navarro, advisor to trade in the administration of Donald Trump claimed that The stock exchange “tries to find the bottom”, To reflect from him and assure him that “he would end a year at 50,000 points” (the current course is 37.4 thousand). He also argued that the forecasts about the recession awaiting US is missing because Customs revenues will allow the Congress to adopt tax cuts.
Tax Foundation has estimated that duties can give the US federal budget around $ 260 billion. Infathered in 2025, the adoption of tax cuts will mean that the duties will remain for longer regardless of what the US trading partners do.
