Naija News reports that this was made known by the Minister’s Senior Special Assistant on Public Communications and Social Media, Lere Olayinka.

He disclosed that Wike departed Nigeria on Sunday evening after spending time with his political allies and associates in Port Harcourt, Rivers State.

[Naija News]

The Federal Government has marked 700 properties for demolition for the Lagos-Calabar Highway project.

Lagos State Controller of Works, Mrs Olukorede Kesha, disclosed this at a stakeholders’ meeting on the ongoing Lagos-Calabar Coastal Highway project.

According to her, the number was significantly lower than initial estimates.

“Instead of having to demolish about 1,500 houses, we took the most economical route. Now we are left with less than 700 houses to be demolished,” she said.

She lauded the pace and planning of the project, stating that Section 1 of the Lagos-Calabar Coastal Highway, which is 47 plus 400 kilometres, was awarded some time ago.

Addressing concerns over alignment and property demolition, Kesha said a lot of people complained about set alignments, but they are not duty-bound to follow any alignment.

“It was set aside when somebody else was to do it, but now that it’s the Federal Government, we have to look at the most feasible, most economical route,” she said.

Earlier, the Minister of Works, David Umahi declared that the Lagos-Calabar Coastal Highway will not only revolutionise Nigeria’s transport landscape but also generate carbon credits through its eco-friendly construction and design.

He explained that the road will ease traffic congestion and integrate multi-modal transport infrastructure.

“This project is going to evacuate all the traffic out of the town, and that will be a big plus for us. We are not only building for today. We are also building for tomorrow. And, of course, there will be a rail line in the middle. The middle is 12 metres gap,” he stated.

The minister added that some areas would also have train stations and facilities for future developments.

Addressing the challenges in Section two of the project, Umahi said the existing industrial infrastructure posed a serious challenge, noting that with Dangote refinery, one needs about 60 metres clearance for the trucks to go in and out.

He said: “We are now building a flyover that has a span of 60 metres. And then the next span is 41.6 metres, counterbalanced by the next span, and then the rest is 22, 23 metres.

“So, we are flying over Dangote’s refinery, we are flying over Dangote’s fertilizer, and we are flying over some other conflict points.”

On plans for further expansion, Umahi said there are extensive ongoing and planned projects across several states.

“We have started in Cross River, and of course, Akwa Ibom. We are going there to flag off the construction,” he stated.

Touching on the Sokoto-Badagry legacy project, the minister explained the challenges and solutions being considered.

He revealed that the third section of Sokoto-Badagry is going to start from Badagry, where there are very big challenges.

According to him, there are three kilometres of rivers across the stretch, and it would cost a lot of money to deal with them. He, however, said they have devised about four options to handle it.

Umahi said the four legacy projects are connected and inclusive, explaining that the third legacy project is the one that is coming from Calabar, going through Ebonyi, Enugu, Benue, Nasarawa, Kogi, and Abuja.

“The fourth legacy project goes from Abuja to Makurdi, Keffi, Akwanga, Jos, Bauchi, and Gombe. The four legacy projects are all connected together and no region is left aside,” he said.

The minister issued a stern warning against the misuse of infrastructure.

[Guardian]

The Nigerian government has said that it was considering an adjustment to its N54.99trn 2025 national budget as part of measures to respond to potential shocks of the United States’ global trade tariff hike.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, gave the hint on Monday at a Corporate Governance Forum organised by the Ministry of Finance Incorporated (MOFI) in Abuja.

Edun also acknowledged that the adverse effect of the US tariff on Nigeria will be through oil price plunge. He claimed that the government was making efforts to ramp up crude oil production to curtail any price effect.

“We are also focusing on non-oil revenue mobilisation by FIRS and Customs.

“Budget adjustment and prioritisation where possible, and also innovative non-debt financing strategies,” Edun listed the possible counter measures at the event that was held at Transcorp Hilton in Abuja on Monday.

Recall that US President Donald Trump had last week announced general global tariffs on all imports into the country, including Nigeria.

Nigeria-US trade has been in surplus in the last three years (2022-2024). According to official data, Nigeria’s export to the US is between $5bn to $6bn annually.

“Consequently, the tariff effect on exports is negligible if we sustain our oil and minerals export volume,” Edun told the gathering.

However, he claimed that Nigeria was positioned to withstand global trade disruptions, including the new United States import tariffs, a position that triggered a murmured disagreement from the crowd present at the event.

He said the administration was determined to attract investment, not just through policy rhetoric but by demonstrating corporate readiness and governance in state-owned enterprises.

Edun stressed that Nigeria remained relatively insulated due to early reforms and a shift in economic strategy.

The minister said that the government was prioritising non-oil revenue mobilisation through the Federal Inland Revenue Service (FIRS) and Nigeria Customs Service (NCS) to mitigate potential revenue shortfalls.

Edun said Nigeria was already pivoting its economic model toward private sector-led growth, equity-based financing, and strategic asset optimisation.

According to Edun, while the government accounts for 10 per cent of the gross domestic product (GDP), the private sector contributes 90 per cent.

He credited President Bola Tinubu’s administration with stabilising key macroeconomic indicators and laying the groundwork for sustainable growth.

[Leadership]

A high court sitting in Jos, Plateau State, has adjourned the trial over the murder of Major-General Idris Alkali (rtd) to May 28 and 29, 2025, for the defendants to open their defence.

The adjournment followed the continued cross-examination of retired Major-General U. I. Mohammed on Wednesday. Before this, the prosecution had formally closed its case.

General Alkali, who was the former Chief of Administration at the Nigerian Army Headquarters, was declared missing just weeks after retiring from active service.

He had embarked on a journey from Abuja to Bauchi, passing through Plateau State, where he was last heard from during the trip. He was driving a black Toyota Corolla car.

At the time of his disappearance in 2018, General Mohammed (then a brigadier-general) was the Garrison Commander of the 3 Division and led the search-and-rescue mission for the missing officer.

His efforts led to the discovery of Alkali’s car in a deep mining pit in Du community and, later, his body in an abandoned well at Guchwet village in Shen district of Jos South LGA of Plateau State. During Monday’s proceedings, the defence counsel extensively cross-examined General Mohammed regarding inconsistencies and clarifications related to his previous statements and testimonies concerning Alkali’s death.

The questioning, which lasted for about two hours, focused on both his initial and subsequent accounts of the incident.

After the session, Justice Arum Ashom excused the witness and scheduled the next hearing.

Prosecuting counsel, Simon Mom, who represented the Plateau State Attorney General, did not object to the adjournment.

The judge subsequently adjourned the case to May 28 and 29 for the defence to begin presenting its case.

[DailyTrust]

Pascal Dozie, a renowned Nigerian entrepreneur and business leader has died. He was 86.

According to sources close to the deceased, Dozie died after a battle with old age-related illness.

Dozie, was a man of many parts, best known for founding Diamond Bank and serving as chairman of Pan-Atlantic University.

He was born on April 9, 1939, in Egbu, Owerri, Imo State, Nigeria. Dozie’s educational background includes a degree in Economics from the London School of Economics and a master’s in Administrative Science from City University in London.

Dozie also founded theAfrican Development Consulting Group, which worked with notable clients like Nestle and Pfizer. He served as MTN Group chairman but later resigned and was succeeded by Ernest Ndukwe.

Dozie received the prestigious National Award of the Order of the Niger (OON) for his contributions to Nigeria’s banking industry.

Dozie is survived by his wife Chinyere Dozie, and five children among other relatives.

[businessday.ng]

For centuries, the Kano Durbar has stood as a majestic symbol of northern Nigeria’s cultural pride—an annual celebration marked by regal horsemen, rhythmic drumming, and crowds of admirers drawn from across the globe but for the second consecutive year, that legacy has been paused.

Once again, silence replaced the thunder of hooves and the color of tradition, as the famed Sallah Durbar was cancelled due to security concerns. The decision, announced by the Kano state Police command just days before the festival, has triggered waves of disappointment among tourists, culture custodians, and tourism experts alike.

Tourists Left in the Cold

More than 160 tourists; many of whom had travelled thousands of miles—had arrived in Kano, eager to witness the historic spectacle. Instead, they were met with abrupt disappointment.

“I was terribly disappointed,” said Virgil Taylor, an African-American tourist from the United States.

“As a Black man living in America, it was empowering to come to Kano and witness a celebration of African royalty and heritage. I planned this trip for over a year. The cancellation crushed me,” Taylor said.

Taylor was not alone in his frustration. Among those affected was Lekan Okanlawon, a UK-based Nigerian who had come with a team of polo players and horse riders to attempt setting a Guinness World Record for the largest horse-riding procession.

“We had shipped our horses from the UK,” he lamented.

Speaking further, he said, “We were inspired by the global potential of the Durbar. UNESCO has already recognized it as part of its heritage program. But the sudden cancellation was a huge letdown.”

Economic Ripples Across the City

Beyond the cultural cost, the cancellation has affected the local economy. Traders, hoteliers, and artisans who usually benefit from the influx of guests during the Durbar reported heavy losses.

Yusuf Ibrahim Lajawa, a tourism expert based in Kano, explained the far-reaching impact, “Durbar season is one of the most profitable periods for small businesses. From food vendors to traditional crafts people, everyone benefits from the massive turnout. The suspension doesn’t only hurt culture—it hits livelihoods.”

Lajawa called on government and security stakeholders to find lasting solutions. “This isn’t just about a festival. It’s about heritage, tourism, and economic development. We urge those in power to take action and restore this glorious tradition in full force,” he said.

The Security Dilemma

Security authorities have defended their decision, citing intelligence reports and fears of a possible clash due to the presence of two rival emirs reportedly planning separate Durbar processions.

“We had to act in the interest of public safety, The potential for unrest was too high.” the police maintained.

In a bid to salvage the situation, the 16th Emir of Kano led a modest Eid motorcade. But the alternative procession lacked the grandeur, symbolism, and tourist appeal of the Durbar, leaving many observers underwhelmed.

Preserving a Priceless Legacy

Ahmad Yusuf, Executive Secretary of the Kano State History and Culture Bureau, expressed regret over the repeated cancellations, noting the loss of cultural and economic value.

“We acknowledge the concerns and the disappointment,” he said. “The Durbar is a cultural asset that deserves protection and promotion. Our hope is to work closely with stakeholders to ensure its safe return.”

Founded over five centuries ago, the Kano Durbar is more than a festival—it is a living narrative of tradition, royalty, and communal identity. For decades, it has attracted the admiration of scholars, tourists, and photographers from across the world.

But with back-to-back suspensions, tourism experts now worry that the city’s cultural brand could erode.

“This is not just Kano’s loss. It’s Nigeria’s loss,” said Okanlawon.

According to him, “No other country can showcase this level of royal equestrian culture. If properly managed, it can put Nigeria on the world tourism map.”

The UNESCO-recognized Durbar has over the years served as a magnet for culture enthusiasts from around the world. It is not just a celebration but a convergence of heritage, pride, and economic potential.

With back-to-back cancellations, experts warn that Kano risks losing its place as a premier cultural destination unless deliberate efforts are made to revive and secure the Durbar.

“This is a call to action. The Durbar is our crown jewel. It deserves to shine again,” Lajawa said.

[DailyPost]

A Nigerian court has adjourned a tax evasion case against Binance to April 30 to allow the local tax authority to respond to a request by the cryptocurrency exchange to annul an order for court documents to be served on it by email, a lawyer for Binance said on Monday.

The lawyer, Chukwuka Ikwuazom, asked the court to set aside the order because the tax authority did not obtain a leave from the court to serve court documents on Binance outside Nigeria. Binance does not have a physical office in Nigeria.

“On the whole the order for the substituted service as granted by the court on February 11, 2025 on Binance who is … registered under the laws of Cayman Islands and resident in Cayman Islands is improper and should be set aside,” Ikwuazom said.

Nigeria has filed a lawsuit seeking to compel Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, according to court documents.

Authorities blame Binance, the world’s largest crypto exchange, for Nigeria’s currency instability and detained two of its executives in 2024 after cryptocurrency websites emerged as platforms of choice for trading the local naira currency.

Binance, which is not registered in Nigeria, did not immediately respond to a request for comment. It has previously said it is working with Nigeria’s Federal Inland Revenue Service to resolve potential historic tax liabilities.

The inland revenue service alleges in documents seen by Reuters that Binance has a “significant economic presence” in Nigeria and is therefore liable for corporate income tax. It is seeking a court declaration that Binance pay income taxes for 2022 and 2023, plus a 10% annual penalty on unpaid amounts.

[TheNation]

The challenges facing the implementation of the Supreme Court judgment on local government autonomy have assumed a new dimension, with some state governors explicitly warning their council chairmen against opening an account with the Central Bank of Nigeria for the direct payment of their allocations from the Federation Account.

The latest development represents yet another significant hurdle, nearly nine months after the Supreme Court granted full autonomy to the 774 local governments across the country, paving the way for direct payment of federal allocations.

As part of the Federal Government’s commitment to the Supreme Court judgment, a panel was set up to ensure the implementation of LG autonomy.

In line with its recommendation, the panel directed the Central Bank of Nigeria to open accounts for the 774 LGs for direct payment of their allocation.

This process has, however, faced delays with the CBN and LGs trading accusations.

The immediate-past Account-General of the Federation, Oluwatoyin Madein and the Attorney-General and Minister of Justice, Lateef Fagbemi, SAN, and other officials recently commenced talks on the modalities for the LGAs to open accounts with the CBN for direct allocation but are reportedly facing challenges identifying LGAs with democratically elected officials.

A Federation Account Allocation Committee Technical Sub-Committee meeting revealed that only Delta State LGAs had submitted their account details.

Amid the controversy,  fresh investigations by The PUNCH on Monday revealed that some governors have resorted to intimidation and coercion, pressuring their local government chairmen to refrain from opening the designated accounts for direct allocation payment.

Several local government chairmen who spoke with our correspondents on the condition of anonymity, out of fear of victimisation, said their respective governors have instructed them not to open accounts with the CBN for the direct receipt of their allocations.

One chairman revealed that a governor in the South-East region refused to accept 50 percent of the monthly allocations, which was part of the agreement intended to facilitate the opening of the accounts for direct payment.

“Our governor has threatened us (all the chairmen in the state) not to open accounts with the CBN for the direct payment of our allocation”, one of the chairmen of South-East states, who pleaded anonymity, told one of our correspondents.

“We even tried to beg him, seeking to strike a deal, such that if he allows us to open the account with the CBN and our allocations are paid directly, we will remit 50 per cent of the LG allocation to him monthly, but he disagreed. So, this is where we are for now,” the LG chair added.

Further investigations reveal that a significant number of governors are strongly opposed to the opening of CBN accounts, fearing it would sever their long-standing access to local government funds.

However, a negligible number of governors are said to be disposed to the idea of their LGAs opening the CBN accounts.

The PUNCH had reported how some governors met with President Bola Tinubu recently and said they preferred the LGs to open accounts with commercial banks instead of the CBN.

It is unclear if the President is positively disposed to the idea.

Meanwhile, another LG chair, who spoke to The PUNCH on the condition of anonymity, explained that the CBN’s stringent conditions might be one of the reasons the governors were not positively disposed to the idea, aside from the fact that it will cut off their access to  LG funds.

A chairman in one of the local government areas in South-West disclosed that the council chairmen in the state have not opened accounts with CBN due to the stringent conditions set by the apex bank.

The chairman said one of the stringent demands is the submission of a two-month statement of account from each local government area, which was not available.

“But as simple as that condition may look, all council areas here in our state can’t meet up. The situation is not peculiar to our state. If you check well, most states can’t meet up simply because their governors are the ones spending their allocation.

“They are only giving those in LGAs whatever they feel like giving them. That is the problem,” the LG boss said.

Other local governments have cited various reasons for the delay in opening CBN accounts. One council chairman in Benue State, who spoke to our correspondent on the condition of anonymity, alleged that certain parties are working together to hinder the process.

He said, “Chairmen across the country are aware that state governors are trying to frustrate the financial autonomy of local government areas. What they are pushing for is for council chairmen to open their accounts in commercial banks where they can easily have access to control the councils’ money.

“They know that the moment the money is paid to CBN, it will go directly to us, and they will not have access to it. So, that is the reason the governors are frustrating the move.”

However, the Nigerian Union of Local Government Employees in Nasarawa State has said it is fully compliant with the directive to open accounts and is prepared to receive funds from the Federal Government.

The NULGE Chairman in the state, Adamu  Sharhabilu, who disclosed this to our correspondent in Lafia on Monday, revealed that the state government and the House of Assembly have been working in collaboration with local government workers to ensure that local government autonomy is fully realized in the state, showing a unified effort to support the implementation of the Supreme Court’s ruling.

He noted, however, that despite the cooperation at the state level, the local government councils have yet to begin receiving their allocations directly from the Federal Government

The NULGE chair said, “As I speak with you, all the LG accounts had been opened because we thought that the Federal Government will send our money there, but up till this moment, no LG in Nasarawa State has received allocation directly from the FG.

“For now, there are no obvious plans by the Nasarawa State government to short-change the local government workers or frustrate the LG Autonomy implementation in the state. From our own observation, the governor has been working towards ensuring that local government workers get what is due to them and also enjoy all the benefits of the LG autonomy.

“The monthly allocations are usually sent to the Joint Accounts under the State Ministry for Local Government and Chieftaincy Affairs. No local government has received funds from the Federation Account.’’

However, another local government chairman in the state, speaking anonymously, attributed the delay to the government’s failure to follow through on its promises.

The official stated, “What we are facing now is the fault of the Federal Government because the federal allocation committee is supposed to send the money straight to the local governments, not the joint account. We have so many accounts to receive the money, but they refused to send the money to the local government coffers.”

He, therefore, urged the Federal Government to align itself with the Supreme Court’s judgment and allow for the full implementation of the LG autonomy by ensuring that the funds are paid directly to the LGAs.

 Findings showed that many state chairmen are unaware of the current stage of policy implementation.

The Chairman of the Nigeria Union of Local Government Employees, Kwara State chapter, Seun Oyinlade, hinted that no council has opened an account with the CBN.

Speaking on the phone on Monday, Oyinlade said, “We are not aware that any of the 16 local government councils in the state have opened an account with the CBN. We do not know if the local government councils in the state operate an account with the Central Bank of Nigeria.”

He said he could not confirm if the state governor was similarly opposed to the direct payment of allocation to the councils.

“Though we heard it as a rumour that governors are trying to frustrate the implementation of the local government autonomy, we are yet to verify the claim. We will confirm if the local government councils have accounts with the CBN when allocation from the Federation Account is paid to them,” he said.

A local government worker in Damaturu, Yobe State, revealed that March salaries were paid through the Ministry for Local Government and Chieftaincy Affairs, rather than directly from the local governments’  accounts.

He said, “This is a setback in the implementation of the Supreme Court’s ruling aimed at granting more autonomy to local governments.”

“Even the new minimum wage implementation, local government staff members are yet to benefit from it. The state civil servants have benefited from the new minimum wage approved by the Federal Government. This development has brought some relief to state employees.”

In Zamfara, local government chairmen confirmed that they have yet to open accounts with the CBN.

The state’s ALGON chairman, Alhaji Samaila Moriki, who also serves as the chairman of Zurmi Local Government Area, told The PUNCH that they were still awaiting further instructions before proceeding with the opening of accounts.

He said, “We have yet to open accounts with the CBN because we are waiting for further directives and instructions. Everything is done through due process, and we are waiting for the directives from above. So, that is why we have yet to open accounts with the CBN. We will do that later when things become normal.”

He, however, declined to make further comments on the directives and instructions they were waiting for.

Furthermore, the 44 local government councils in Kano State have yet to open an account with the CBN.

The chairman of Garko LGA,  Saminu Garko, confirmed this, stating,  “None of the 44 local government councils in the state has opened accounts with the Central Bank of Nigeria. But we heard that the apex bank has opened an account for all local governments, and what remains is to regularise the accounts.

“Moreso, the Central Bank of Nigeria has not invited any of the local government chairmen in the state for the regularisation of the accounts, let alone verification of signatories.

‘’We just read in the newspapers that the bank is inviting local government chairmen for the verification exercise.”

He noted that since the Local governments have not opened the accounts with the bank, there was no way the chairmen could be invited for the verification of signatories.

But the ALGON in Jigawa State denied that the governor threatened local government chairmen against opening accounts with the CBN.

The ALGON state chairman, Prof. Abdulrahman Salim, assured that the account opening process is ongoing. “Everything is okay, and our local government areas are still visiting the CBN state headquarters to complete the necessary procedures,” he explained.

 Salim added that “All 774 local government councils, including the 27 in Jigawa State, are expected to open dedicated accounts with the CBN for direct disbursement of funds from the Federation Account as we were directed.

 “Jigawa State’s 27 local government areas are taking steps to open CBN accounts, which will enable them to receive direct allocations and manage their finances independently.”

“The CBN has been instrumental in facilitating local government autonomy by providing a platform for local governments to open accounts and receive direct allocations,” he stressed further.

“The delay in opening CBN accounts has been attributed to administrative bottlenecks, including the failure of the apex bank to fix a date for the biometric data capturing to complete the process.”

He claimed that nearly all the necessary steps had been completed, with only biometric capturing remaining for some local governments, adding that “the chairmen are currently waiting for the CBN to schedule a date for them to revisit the office for biometric data capturing.”

The NULGE leadership in Jigawa State could not be reached to confirm Salim’s claims.

However, a NULGE official, who spoke on condition of anonymity, quipped, “It will not come to us as a surprise if governors really don’t want the local government autonomy, they can change the process entirely.”

•Beijing calls US tariffs intimidation

•EU offers zero-for-zero tariff

•Global market continues to plunge

United States of America President, Donald Trump, has threatened to impose additional 50 per cent tariff on Beijing if it does not withdraw its 34 per cent retaliatory tariffs on Washington.

China, the second largest economy in the world, had reacted swiftly to the import tax announced by Trump last week, slamming Washington with 34 per cent tariff even as the rest of the countries continued to weigh their next move, opting either to negotiate or put their retaliatory tariffs forward. 

If the extra 50 per cent tax is implemented, that would bring the total import tax on China to 104 percent, roughly doubling the cost for companies bringing their goods from China to US in less than a month.

In a similar move, President Trump had threatened to hit alcohol from Europe with a 200 percent tax and also place a 50 percent tariff on Canada’s steel and aluminium “if they team up to work against American’s interest”.

However, both sides reached a kind of concessions  and the hikes never materialised. 

As the clash between both countries (US and China) rages on, Beijing has described Trump’s “reciprocal tariffs” as intimidation, stressing that threats and pressure are not the right way to deal with China.

The Spokesperson for Chinese Foreign Ministry,  Lin Jian, speaking during a press conference stated that the tariffs are typical unilateralism and protectionism and economic bullying, adding that U.S. tariffs in the name of reciprocity only served its interest at the expense of other countries.

Jian, therefore, urged countries to jointly oppose all forms of unilateralism and protectionism and safeguard the international system and the multilateral trading system, according to the United Nations and World Trade Organisation values, respectively.

“The abuse of tariffs by the United States is tantamount to depriving countries, especially those in the Global South, of their right to development,” said, citing a widening gap between the rich and poor in each country and less developed countries suffering a greater impact.

“All countries should uphold consultation, joint construction and sharing, and genuine multilateralism”, he said.

Meanwhile, the European Commission, said it has offered a zero-for-zero tariff deal to the US to avert a trade war with Trump as the EU ministers agreed to prioritise negotiations, while striking back with targeted countermeasures next week.

The 27-nation bloc faces 25 percent import tariffs on steel and aluminium and cars and broader tariffs of 20 percent from Wednesday, April 9, for almost all other goods under Trump’s policy to hit countries Trump believes impose high barriers on U.S. imports.

Ministers overseeing trade in the bloc met in Luxembourg yesterday to debate the EU’s response and discuss relations with China where many agreed that the priority was to launch negotiations to remove Trump’s tariffs, rather than fight them.

This is even the stock markets around the US, Europe and Asia have continued to plunge on the back of the tariff war. In US, major markets continued to slump with the Dow Jones falling by 4.4 percent at mid-day, the S&P 500 lost 4.7 percent while the Nasdaq fell by five percent.

In Hong Kong, the Hang Seng Index closed down 13.22 percent, marking a 28-year low for the exchange.

In Taiwan, a 9.7 percent drop at close resulted in a record low for Taipei’s TAIEX index

In Europe, the UK’s FTSE 100 index fell to its lowest level in a year, dropping by nearly six percent, while Germany’s Dax plunged almost 10 percent at the start of trading yesterday.

This comes as the UK Prime Minister, Keir Starmer, said tariffs, which are a tax on imports, are a “huge challenge.”

Trump’s officials have continued to be dismissive the impact of the tariff war on the global economy and stock markets.

Peter Navarro,Trump’s trade adviser, said that the administration has been seeing a “beautiful situation” with the stock market and prices since the tariffs were introduced and advised businesses not to panic about what they are seeing on the stock market.

According to him, “any discussion of recession seems silly.”