Former President Donald Trump has doubled down on his aggressive economic stance, reiterating bold declarations that have left both Wall Street and the crypto markets reeling. On Friday night, the White House reaffirmed Trump’s earlier threats, triggering further volatility across stocks, bonds, and digital assets.
Markets had hoped for signs of moderation, either from the Fed or Trump himself. Instead, Trump took a defiant turn, asserting, “I’m the President of Main Street, not Wall Street.” According to Dey There, this stance signals that Trump has little interest in appeasing financial elites, even as the broader market absorbs steep losses.
“I Represent Workers, Not Shareholders”
In a widely shared statement, Trump declared:
“I am proud to be the President of workers, not subcontractors; of Main Street, not Wall Street; of the middle class, not the political class; and of America, not global trade fraudsters.”
The messaging resonates with populist themes ahead of the 2026 midterms, especially as new data shows that just 1% of Americans own over 50% of all U.S. equities. In contrast, over 80% of Americans have little or no exposure to stocks. This class divide may be emboldening Trump to sideline stock market concerns in favor of broader political gains.
Tariff War Escalates to Dangerous Levels
The ongoing tariff tit-for-tat between the U.S. and China has now reached alarming extremes. U.S. tariffs on Chinese imports are up to 104%, while China has retaliated with 84% tariffs, nearly halting trade between the two superpowers. Instead of de-escalating, Trump lashed out at critics:
“The squealing you hear about tariffs comes from the same crooks and traitors who didn’t blink when America lost 90,000 factories under NAFTA.”
Such inflammatory rhetoric has prompted pushback even from public figures like Elon Musk, who posted veiled comments that many interpreted as criticisms of Trump’s policies and tone.
Market Response: Fragile and Fearful
Stock markets, bond yields, and crypto assets have all entered correction territory, with investors fearing deeper declines if trade tensions continue to intensify. Yet, Trump shows no signs of shifting course. In fact, he celebrated what he called “the most successful first 100 days in history.”
From the perspective of Dey There, Trump’s approach may signal a new phase of political and economic brinkmanship, one where populism trumps pragmatism, and financial markets are left to fend for themselves.
References & Sources
Trump’s Populist Speech & Main Street vs. Wall Street Rhetoric
White House Reaffirms Trump’s Economic Strategy
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