Donald Trump on fallout from trade war: 'US kids may get 2 dolls instead of 30'

Donald Trump also stated that the tariffs imposed by the US would cause tremendous difficulties for China.

Updated on: May 1, 2025, 08:57:02 IST

By HT News Desk

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US President Donald Trump on Wednesday stated that tariffs imposed by his administration could lead to American children having “two dolls instead of thirty,” but China would suffer more from the trade war, reported Associated Press.

US President Donald Trump stated that the tariffs imposed by the country could lead to inflation in the country, but China would suffer more (Bloomberg)

Also Read: Donald Trump says tariff talks with India going great, expects a trade deal soon

Trump said about inflation caused by tariffs, “You know, somebody said, ‘Oh, the shelves are going to be open.’ Well, maybe the children will have two dolls instead of thirty dolls. So maybe the two dolls will cost a couple bucks more than they would normally.”

Trump also stated that China was having “tremendously difficulty” after being slapped with a total of 145 per cent tariffs because their factories were not able to do any business.

Trump blames stock market fall on Biden

The US President's comments come after a new government report showed that the country's economy shrank 0.3 per cent during the first three months of the year, soon after Trump came to power.

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He took to social media to blame the state of the economy on his predecessor Joe Biden, “This is Biden’s Stock Market, not Trump’s. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers. Our Country will boom, but we have to get rid of the Biden ‘Overhang.’ This will take a while, has NOTHING TO DO WITH TARIFFS.”

Also Read: Trump cabinet flaunts Gulf of America hats; Musk spotted with mysterious neck scar | Watch

After the release of the government report on the falling GDP, financial markets tumbled on Wednesday. In response, Trump told reporters, “I’m not taking a credit or discredit for the stock market. I’m just saying we inherited a mess.”

White House trade adviser Peter Navarro stated that the GDP would stabilise and Trump's measures would ensure growth in the months ahead.

“All we’re seeing is good, strong news,” Navarro said. “So the idea that there’s a recession coming should be heavily discounted.”

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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