Friday, August 16, 2019
President Donald Trump on Thursday sought to reassure his supporters about the state of the U.S. economy despite the stock market volatility and told rallygoers in New Hampshire, a state that he hopes to capture in 2020, that their financial security depends on his re-election.
“Whether you love me or hate me, you have to vote for me,” Trump said.
Speaking to a boisterous crowd at Southern New Hampshire University, Trump dismissed the heightened fears about the U.S. economy and a 3 percent drop Wednesday in the Dow Jones Industrial Average, which was fueled by a slowing global economy and a development in the bond market that has predicted previous recessions. Avoiding an economic slump is critical to Trump’s re-election hopes.
“The United States right now has the hottest economy anywhere in the world,” Trump said.
Trump, who reached the White House by promising to bring about a historic economic boom, claimed, as he often does, that the markets would have crashed if he had lost his 2016 bid for the presidency. And he warned that if he is defeated in 2020, Americans’ 401(k) retirement accounts will go “down the tubes.”
The president also defended his tactics on trade with China. He has imposed 25 percent tariffs on $250 billion of imports from China and has threatened to hit the remaining $300 billion worth of Chinese imports with 10 percent tariffs.