WASHINGTON (AP) — President Donald Trump provided an optimistic outlook following a sharp decline in the stock market on Thursday, stating, “I think it’s going very well.”
When asked about the market as he departed the White House for one of his golf clubs in Florida, he remarked, “The markets are going to boom, the stock is going to soar, and the country is going to thrive.”
On Thursday, the Dow Jones Industrial Average plunged over 1,600 points as U.S. stocks initiated a global selloff following the president’s announcement of tariffs, which caused a shock unlike anything seen since the onset of the COVID-19 pandemic.
Trump announced on Wednesday a minimum tariff of 10% on imports, with much higher rates for products from specific countries, including China and those from the European Union.
The mention of tariffs shook markets around the globe, but Trump suggested that such volatility was anticipated. He likened the U.S. to a patient needing surgery when responding to a reporter about the most significant stock market decline in years.
“I think it’s going very well. We have a situation much like a surgery; it’s a major operation. I indicated this would unfold exactly as it has,” he said, seemingly referencing the market downturn.
He also spoke of trillions of dollars in investments that are “flowing into our country” from businesses aiming to produce their goods in the U.S. to circumvent tariffs.
“The rest of the world is eager to find a way to strike a deal,” he added.
Later, while speaking with reporters aboard Air Force One, Trump indicated he might use tariffs as a negotiating tool with other nations, depending on whether they could offer something “exceptional” in return.
He insists that other nations have benefitted unfairly from the U.S. for an extended period, and he intends to change that.
“For many years, we’ve been on the losing side, but I truly believe it’s going to be remarkable,” Trump said as he left the White House to participate in a Saudi-backed golf event at his Doral, Florida club.
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