Trump blames 'badly run and weak' US companies for struggling to cope with tariffs he imposed

Donald Trump has cast blame on “badly run and weak companies” that are struggling in the wake of his stiff international tariffs, and suggested that the US would have “one of the biggest Stock Market increases” if the US Federal Reserve would just cut interest rates.

Mr Trump’s claims come amid mounting signs that his trade war with China is damaging the US economy, and as American companies have complained that the stiff tariffs have put extra strain on manufacturers as the sector has slowed.

The attack on the Fed has become a mainstay of the president’s in recent weeks, too, as he seeks to put pressure on the financial regulator to cut interest rates in spite of his insistence that the US economy is strong. The Fed generally cuts borrowing costs when the economy needs help — to spur the flow of capital — and raises the rates during a strong economy to keep economic excesses in check. The Fed cut rates for the first time since the 2008 financial crisis earlier this year.

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“If the Fed would cut, we would have one of the biggest Stock Market increases in a long time. Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management...and who can really blame them for doing that? Excuses!” Mr Trump tweeted on Friday morning.

Earlier in the morning, Mr Trump also claimed that the Fed is responsible for allowing Europe to gain a trade advantage over the US, as the Euro drops in value compared to the dollar.

Shape Created with Sketch. Trump protests: President visits Texas and Ohio after mass shootings Show all 31 left Created with Sketch. right Created with Sketch. Shape Created with Sketch. Trump protests: President visits Texas and Ohio after mass shootings 1/31 Miami Valley Hospital, Dayton Demonstrators chant as they protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District AP 2/31 El Paso Trump headed to El Paso, after visiting Dayton, Ohio to offer a message of healing and unity, but he was met by hostility in both places by people who fault his own incendiary words as a contributing cause to the mass shootings AP 3/31 El Paso, University Medical Centre US President Donald Trump greets first responders as he visits El Paso Regional Communications Centre AFP/Getty 4/31 El Paso, University Medical Centre An anti-Trump protestor holds a sign as police are lined up outside University Medical Centre Getty 5/31 El Paso AP 6/31 El Paso AFP/Getty 7/31 Miami Valley Hospital, Dayton AP 8/31 El Paso Democratic presidential candidate Beto ORourke hugs a woman at a makeshift memorial outside Walmart honoring victims of the mass shooting there which left 22 people dead. Getty 9/31 El Paso AFP/Getty 10/31 El Paso AP 11/31 El Paso, University Medical Centre Reuters 12/31 El Paso, University Medical Centre President Trump and First Lady Melania Trump greet PFC Glendon Oakley (second right), who saved several lives during the mass shooting in Texas AFP/Getty 13/31 Miami Valley Hospital, Dayton AP 14/31 El Paso, University Medical Centre Reuters/Amanda Voisard 15/31 El Paso Beto ORourke consoles a man at the makeshift memorial outside Walmart Getty 16/31 El Paso, University Medical Centre An anti-Trump demonstrator yells near police outside the University Medical Centre Reuters 17/31 El Paso AFP/Getty Images 18/31 Dayton President Donald Trump and First Lady Melania Trump arrive at Wright-Patterson Air Force Base AP 19/31 El Paso Makeshift memorial for victims of the shooting that left a total of 22 people dead at the Cielo Vista Mall Walmart AFP/Getty Images 20/31 Miami Valley Hospital, Dayton AP 21/31 President Trump greets Dayton Mayor Nan Whaley as he arrives at Wright-Patterson Air Force Base AFP/Getty 22/31 Miami Valley Hospital, Dayton AP 23/31 Dayton Damon Smith presents a message to President Donald Trump beside a makeshift memorial in Dayton AP 24/31 Miami Valley Hospital, Dayton Demonstrators gather in front of an inflatable "Baby Trump" to protest the presidents arrival AP 25/31 Miami Valley Hospital, Dayton AP 26/31 El Paso A photo of victim Javier Amir Rodriguez, a 15-year-old sophomore Getty 27/31 Dayton AFP/Getty 28/31 El Paso A message is left for Donald Trump AFP/Getty 29/31 El Paso AFP/Getty 30/31 El Paso People hug at the makeshift memorial AFP/Getty 31/31 El Paso People pray at the makeshift memorial AFP/Getty 1/31 Miami Valley Hospital, Dayton Demonstrators chant as they protest the arrival of President Donald Trump outside Miami Valley Hospital after a mass shooting that occurred in the Oregon District AP 2/31 El Paso Trump headed to El Paso, after visiting Dayton, Ohio to offer a message of healing and unity, but he was met by hostility in both places by people who fault his own incendiary words as a contributing cause to the mass shootings AP 3/31 El Paso, University Medical Centre US President Donald Trump greets first responders as he visits El Paso Regional Communications Centre AFP/Getty 4/31 El Paso, University Medical Centre An anti-Trump protestor holds a sign as police are lined up outside University Medical Centre Getty 5/31 El Paso AP 6/31 El Paso AFP/Getty 7/31 Miami Valley Hospital, Dayton AP 8/31 El Paso Democratic presidential candidate Beto ORourke hugs a woman at a makeshift memorial outside Walmart honoring victims of the mass shooting there which left 22 people dead. Getty 9/31 El Paso AFP/Getty 10/31 El Paso AP 11/31 El Paso, University Medical Centre Reuters 12/31 El Paso, University Medical Centre President Trump and First Lady Melania Trump greet PFC Glendon Oakley (second right), who saved several lives during the mass shooting in Texas AFP/Getty 13/31 Miami Valley Hospital, Dayton AP 14/31 El Paso, University Medical Centre Reuters/Amanda Voisard 15/31 El Paso Beto ORourke consoles a man at the makeshift memorial outside Walmart Getty 16/31 El Paso, University Medical Centre An anti-Trump demonstrator yells near police outside the University Medical Centre Reuters 17/31 El Paso AFP/Getty Images 18/31 Dayton President Donald Trump and First Lady Melania Trump arrive at Wright-Patterson Air Force Base AP 19/31 El Paso Makeshift memorial for victims of the shooting that left a total of 22 people dead at the Cielo Vista Mall Walmart AFP/Getty Images 20/31 Miami Valley Hospital, Dayton AP 21/31 President Trump greets Dayton Mayor Nan Whaley as he arrives at Wright-Patterson Air Force Base AFP/Getty 22/31 Miami Valley Hospital, Dayton AP 23/31 Dayton Damon Smith presents a message to President Donald Trump beside a makeshift memorial in Dayton AP 24/31 Miami Valley Hospital, Dayton Demonstrators gather in front of an inflatable "Baby Trump" to protest the presidents arrival AP 25/31 Miami Valley Hospital, Dayton AP 26/31 El Paso A photo of victim Javier Amir Rodriguez, a 15-year-old sophomore Getty 27/31 Dayton AFP/Getty 28/31 El Paso A message is left for Donald Trump AFP/Getty 29/31 El Paso AFP/Getty 30/31 El Paso People hug at the makeshift memorial AFP/Getty 31/31 El Paso People pray at the makeshift memorial AFP/Getty

“The Euro is dropping against the Dollar “like crazy,” giving them a big export and manufacturing advantage...and the Fed does NOTHING! Our Dollar is now the strongest in history. Sounds good, doesn’t it? Except to those (manufacturers) that make product for sale outside the U.S.”, Mr Trump wrote.

The manufacturing sector’s output has slowed for two consecutive quarters, leading many to note that the circumstances have met the standard definition of a recession.

The sector, which Mr Trump pledged to revive as a presidential candidate, is among the hardest hit by Mr Trump’s trade war with China, and could complicate his hopes of re-election next year if the economic situation continues to deteriorate.

Manufacturing plays a key role in several states that helped Mr Trump along to his surprise win in 2016, including Pennsylvania, Wisconsin, and Michigan.

Mr Trump has said he plans on increasing tariffs on Chinese imports even further, too, from 25 per cent to 30 per cent.