Trump says trade deal with Japan might not happen
(MENAFN) U.S. President Donald Trump voiced uncertainty on Tuesday regarding the likelihood of finalizing a new trade pact with Japan, according to reports. Speaking to reporters aboard Air Force One while returning from Florida, Trump questioned whether an agreement could be secured.
"We've dealt with Japan. I'm not sure we're going to make a deal. I doubt it with Japan," he said.
"They're very tough," Trump added.
He emphasized Japan's need for agricultural imports, noting: "They won't take rice. They won't take other products that we have."
The president stated he had no intention of postponing the July 9 deadline for countries to strike trade deals with the United States.
"No, I'm not thinking about the pause. I'll be writing letters to a lot of countries," he said.
Shifting focus to monetary policy, Trump criticized Federal Reserve Chair Jerome Powell, blaming him for hampering U.S. economic momentum.
"If our interest rate was three points lower, that's almost a trillion dollars in cost," Trump remarked, labeling Powell a "moron."
He further indicated he was considering replacements, saying he has "two or three top choices" for the Fed’s leadership.
Trump has persistently called for interest rate reductions, referencing similar actions by European central banks and warning that delays could hinder the American economy.
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