Donald Trump shared a TikTok video on Friday claiming he is tanking the stock market on purpose.
In the clip Trump shared on his Truth Social platform the narrator, a crypto and finance influencer named Brian Decker says, “Trump is crashing the stock market by 20 percent this month, but he’s doing it on purpose.”
“This is why Warren Buffett just said Trump is making the best economic moves he’s seen in over 50 years,” he continued.
The narration was filmed in early March and Buffett never made any such comments regarding Trump. He did say though that tariffs are “an act of war to some degree,” and a tax on goods paid by American customers . “I mean the tooth fairy doesn’t pay them,” he said.
But, Decker argued in the video that a stock market crash would “push cash into treasuries, which forces the Fed to slash interest rates in May and those lower rates give the Fed the ability to refinance trillions of debt very inexpensively.”
“It also weakens the dollar and drops mortgage rates. Now it’s a wild chess move, but it’s working,” he claimed.
On Wednesday, Trump announced reciprocal baseline tariffs of 10% on all US trading partners and more targeted tariffs on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam and 32% on Taiwan. Stocks plummeted on Thursday and again on Friday after China announced 34% reciprocal tariffs on American goods.
In the video Trump shared, Decker describes the tariffs as a “genius move” because it forces companies to forgo foreign goods and return manufacturing to the US. Experts disagree.
“This is not going to succeed at reviving U.S. manufacturing,” Michael Strain, director of economic policy studies at the American Enterprise Institute, a conservative think tank, said bluntly.
