US President Donald Trump presented a rosy assessment after the stock market dropped sharply Thursday follwing the announcement of reciprocal tariffs by the US, saying, "I think it's going very well."
"The markets are going to boom, the stock is going to boom, the country is going to boom," he said when asked about the market as he left the White House to fly to one of his Florida golf clubs.
The Dow Jones Industrial Average plunged over 1,600 points on Thursday, leading a global market selloff after President Trump’s sweeping tariff announcement triggered the sharpest shock since the COVID-19 pandemic.
On Wednesday, Trump unveiled a minimum 10% tariff on imports, with significantly higher rates for goods from specific countries like China and members of the European Union.
While the move rattled markets worldwide, Trump downplayed the reaction, saying it was expected. Comparing the U.S. to a sick patient needing surgery, he responded to questions about the worst stock market drop in years.
"I think it's going very well. We have an operation, like when a patient gets operated on and it's a big thing. I said this would exactly be the way it is," he said, an apparent reference to the selloff.
He talked about trillions of dollars in investment that is "coming into our country" from companies that want to make their products in the U.S. to avoid tariffs.
"The rest of the world wants to see is there any way they can make a deal," he said.
Later, speaking with the reporters on aboard Air Force One, Trump said that he'd be open to using tariffs to negotiate with other countries and that it would depend on whether they had something "phenomenal" to offer in return.
He maintains that other countries have been taking advantage of the U.S. for a long time and he wants it to stop.
"For many years, we've been at the wrong side of the ball and I'll tell you what, I think it's going to be unbelievable," Trump said as he left the White House to attend a Saudi-backed golf tournament at his club in Doral, Florida.
With inputs from PTI
"The markets are going to boom, the stock is going to boom, the country is going to boom," he said when asked about the market as he left the White House to fly to one of his Florida golf clubs.
The Dow Jones Industrial Average plunged over 1,600 points on Thursday, leading a global market selloff after President Trump’s sweeping tariff announcement triggered the sharpest shock since the COVID-19 pandemic.
On Wednesday, Trump unveiled a minimum 10% tariff on imports, with significantly higher rates for goods from specific countries like China and members of the European Union.
While the move rattled markets worldwide, Trump downplayed the reaction, saying it was expected. Comparing the U.S. to a sick patient needing surgery, he responded to questions about the worst stock market drop in years.
"I think it's going very well. We have an operation, like when a patient gets operated on and it's a big thing. I said this would exactly be the way it is," he said, an apparent reference to the selloff.
He talked about trillions of dollars in investment that is "coming into our country" from companies that want to make their products in the U.S. to avoid tariffs.
"The rest of the world wants to see is there any way they can make a deal," he said.
Later, speaking with the reporters on aboard Air Force One, Trump said that he'd be open to using tariffs to negotiate with other countries and that it would depend on whether they had something "phenomenal" to offer in return.
He maintains that other countries have been taking advantage of the U.S. for a long time and he wants it to stop.
"For many years, we've been at the wrong side of the ball and I'll tell you what, I think it's going to be unbelievable," Trump said as he left the White House to attend a Saudi-backed golf tournament at his club in Doral, Florida.
With inputs from PTI
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