WASHINGTON — Following a sharp decline in the stock market attributed to his tariffs, President Donald Trump stated, “I think it’s going very well.”
When questioned about the market as he departed the White House for his golf club in Florida, he predicted, “The markets are going to boom, the stock is going to boom, the country is going to boom.”
The Dow Jones Industrial Average experienced a drop of over 1,600 points on Thursday, with U.S. stocks leading a global selloff. This followed the president’s announcement of tariffs that sparked a reaction comparable to the COVID-19 pandemic.
On Wednesday, Trump declared a minimum 10% tariff on imports, with higher rates for goods from specific nations like China and the European Union.
While the announcement caused market disruption globally, Trump suggested this was anticipated. When asked about the worst stock market downturn in years, he likened the U.S. to a patient requiring surgery.
“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 commented, apparently referring to the selloff.
He mentioned trillions of dollars in investment “coming into our country” from companies seeking to manufacture 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 added.
Later, speaking to reporters on Air Force One, Trump indicated his willingness to use tariffs as a negotiating tool with other countries, contingent on receiving a “phenomenal” offer in return.
He reiterated his view that other nations have been exploiting the U.S. for an extended period and expressed his desire to end this.
“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 remarked as he left the White House to attend a Saudi-backed golf tournament at his club in Doral, Florida.
