In an Oval Office appearance on Monday, President Donald Trump made strange claims about economics and trade, which he’s already been mocked for.
According to HuffPost, Trump complained about the Federal Reserve being too reluctant to lower interest rates.
“We should have the lowest interest rates in the world,” the president told reporters.
Trump: “We don’t need their product. So if we cut off trade with that country, we just made $40 billion. You do a few countries like that, and we become a big money machine.” 🙃 pic.twitter.com/RglgmA7Vgh
— Aaron Rupar (@atrupar) August 31, 2026
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“You take certain countries, I don’t want to mention any, but countries that you consider great, and they’re paying a half a point. All right? A half a point. But they make $40 billion a year with the United States. If they don’t make the 40 billion ― and we don’t need their product, doesn’t have to, we really don’t need their product ― so we cut off trade with that country, we just made $40 billion, and you do a few countries like that, and we become a big money machine.”
Trump, it appears, was talking mostly about Canada, with which he is currently engaged in a bitter trade war. It aligns with the arguments Trump has made in favor of tariffs and interest rate cuts throughout his presidency, often to the consternation of economists and other experts.
Various social media users pointed out just how wrong, and economically illiterate, Trump’s claims were.
I never understood before how he managed to bankrupt a casino, but I get it now https://t.co/Mrew02sQz3
— ChrisO_wiki (@ChrisO_wiki) September 1, 2026
I stopped trading with my grocery store and saved $600 a month but also I starved to death. https://t.co/MboQ967d0O
— David Moscrop (@David_Moscrop) August 31, 2026
There is no question: this guy never took any of his own tests at Wharton. He knows less about basic economics than a typical third grader. https://t.co/fKHuqcxEfj
— Norman Ornstein (@NormOrnstein) August 31, 2026
Please understand that this is a total moron. That is not a political opinion. This guy’s brain is gone. If you think that this guy is in any way a leader or remotely intelligent, you are even dumber than he is. https://t.co/Oe1nVDOajX
— SK Media (@SpaghettiKozak) September 1, 2026
This is idiotic. He must think his supporters are idiots. https://t.co/uSnzlbHOnO
— David Corn (@DavidCornDC) September 1, 2026
Photo courtesy of the Political Tribune media library.