Trump hints at new tariffs for major industry that could send Wall Street reeling as he rips into China

President Donald Trump’s National Economic Council director Kevin Hassett on Monday disputed that the president’s tariff agenda would trigger a recession.

When asked by Fox Business host Maria Bartiromo if the United States could expect a recession in 2025, he replied, ‘100 percent not. 100 percent not.’

‘If you look at the jobs numbers, they’re very, very strong,’ he said.

President Donald Trump welcomed El Salvador’s President Nayib Bukele to the White House.

The president did not take questions when he greeted Bukele at the door to the West Wing.

The two leaders headed into the Oval Office for their meeting, which will include discussions of U.S. deportations of migrants to El Salvador.

President Donald Trump gave another justification for his tariff hikes, saying products need to be made in the USA in case the country goes to ‘war.’

‘We’re going to have our drugs made in the United States, so that in case of war, in case of whatever, we’re not relying on China and various other countries, which is not a good idea,’ Trump told reporters on Air Force One Sunday evening.

Trump has sparked fears of a recession with his crackdown on foreign imports as part of his campaign to products made in America, arguing he wants to support and ramp up manufacturing in this country.

And as Trump left open the possibility of more tariffs to come, Chinese President Xi Jinping, in Vietnam as part of Southeast Asia tour, had his own words of warning.

‘There are no winners in a trade war, or a tariff war,’ Xi wrote in an editorial jointly published in Vietnamese and Chinese official media. ‘Our two countries should resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and cooperative international environment.’

By Emily Goodin, senior White House correspondent

President Donald Trump’s top economic adviser said it was ‘concerning’ that China suspended exports of certain rare earth minerals that are crucial for the world’s car, semiconductor and aerospace industries.

‘They’re concerning. And we’re thinking about all the options right now,’ Kevin Hassett told reporters outside the White House. ‘Rare earths are a part of lots of the economy.’

He also said the administration was helping small businesses that relied on supplies out of China find alternative resources.

The officials understand ‘their concerns and are thinking about how best to address them, including by finding other suppliers that are not on the current list that China is on,’ he said.

‘The White House is concerned about China. Period,’ he added.

Ukrainian president Volodymyr Zelensky took another shot at President Donald Trump and Vice President JD Vance for their ‘altered reality’ surrounding the events that triggered the Russian invasion in Ukraine.

President Donald Trump shared a crypic message on his Truth Social platform on Monday morning, presumably satisfied with new investments in the United States following his tariff announcements.

‘THE BEST DEFINITION OF INTELLIGENCE IS THE ABILITY TO PREDICT THE FUTURE!!!’ he wrote.

NVIDIA announced Monday they will produce AI supercomputers entirely in the United States.

The Trump administration hailed the announcement as a major step forward for the president’s agenda to bring more manufacturing to the United States.

By Emily Goodin, senior White House correspondent

President Donald Trump will welcome El Salvador’s President Nayib Bukel to the White House on Monday amid American deportations of migrants to that country.

More than 200 men accused of being Venezuelan gang members have been deported to a maximum-security prison in El Salvador under the Alien Enemies Act.

The move sparked a mass of criticism and lawsuits, particularly around the case of Kilmar Abrego Garcia, the Maryland father who was mistakenly deported to El Salvador.

But Trump may have a partner in Bukele, who calls himself world’s ‘coolest dictator.’

On Sunday, the Trump administration on Sunday announced that it had sent 10 more people alleged to be gang members to El Salvador over the weekend.

Adviser Stephen Miller told reporters outside the White House there was no limit on the number of illegal migrants to be deported.

‘There’s no upper limit to the agreement. We’re going to continue to send foreign terrorist aliens to El Salvador,’ he said.

By Emily Goodin, senior White House correspondent

A majority of America’s top business executives are worried the country could enter a recession soon, a new survey found.

In a poll of more than 300 CEOs conducted in April, 62% said they see a recession or other economic downturn in the next six months, according to Chief Executive, an industry group that runs the survey.

That’s up from 48% who said the same in March.

The survey reflects the growing concern in corporate America about President Donald Trump’s on-and-off again tariffs and the volatility they’re causing in the global stock markets.

When Treasury Secretary Scott Bessent took the podium at the American Bankers Association on Wednesday morning he was anything but ‘yippy’ – the president’s term to describe the handwringing of Republicans and financiers who were sounding the alarm on his tariffs.

Early on, Trump branded them as ‘Panicans,’ a ‘new party based on weak and stupid people,’ but Bessent struck a unique messaging balance that both reassured stock traders and his boss.

Bessent reassured the room of bankers that, thanks to the president’s tariff threats, 75 countries were willing to negotiate with him, and that 15 of those nations had already proposed a deal.

I think it was terrible. And I was told they made a mistake. But I think it’s a horrible thing. I think the whole war is a horrible thing. I think, for that war to have started, is an abuse of power.

This country would have never allowed that war to have started if I were president. That war is a shame.

The moves gives the likes of Apple and Samsung a major win while Americans dodge massive price hikes.

President Donald Trump on Sunday insisted there will be no exemptions in the tariffs after there was some confusion when it came to electronics.

‘NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!’ the president posted on Truth Social.

A notice released late on Friday suggested gadgets would avoid Trump’s 125 percent import tax on Chinese goods and even his sweeping 10 percent global tariffs.