Trump seeks a pro-rate-cut candidate for Fed chair

U.S. President Donald Trump continued his criticism of Fed Chair Jerome Powell during a press conference held in the Oval Office. Stating that he wants Powell to resign, Trump said, "He has done a terrible job." Trump added, "I will bring in someone who can lower interest rates. If I think someone is going to keep interest rates where they are, I will not appoint them."

Trump stated that there is almost no inflation in the U.S. and that they have accomplished a lot in this regard in a short time. Furthermore, noting that some countries pay less interest than the U.S., he said, "We have a stubborn mule and a foolish man who is making a big mistake."

TRADE NEGOTIATIONS WITH CANADA HALTED

Trump announced that he has decided to halt trade negotiations with Canada. Criticizing Canada's implementation of a digital services tax on technology companies, Trump said, "We have tremendous economic leverage over Canada. I would have preferred not to use it, but they acted foolishly." Stating that Canada has imposed heavy taxes on American companies, Trump said these taxes must be removed.

TRUMP'S CRITICISM OF THE EU

Trump claimed that the European Union (EU) was established to take advantage of the U.S. in trade. Stating that the EU imposes unfair taxes and fines on U.S. companies, Trump said, "If there is anyone who should be influencing a U.S. company, it should be us." Trump stated that the EU was not inclined to engage in trade negotiations but came to the table after the threat of a 50 percent tariff.