Donald Trump struck an upbeat note after the US stock market's sharp plunge on Thursday triggered by his tariffs, saying: “I think things are going very well.”
“The markets will do well, stocks will do well, the country will do well,” he said in response to questions about the state of the market as he left the White House for one of his golf clubs in Florida.
The Dow Jones Industrial Average fell more than 1,600 points on Thursday as U.S. stocks led a global selloff after the Republican president's announcement to impose tariffs on much of the world sent shockwaves unmatched since the COVID-19 pandemic.
On Wednesday, he announced a minimum import duty of 10%, with the tax rate set to be significantly higher for goods from a number of countries, such as China and European Union states.
The announcement sent shockwaves through global markets, but Mr Trump insists it was expected. He compared the US to a sick patient needing surgery when a reporter asked him how he would react to the stock market's sharpest drop in years.
“I am confident that everything is going very well. We have an operation, like a patient who is undergoing an operation, and this is extremely important. I predicted that everything would be exactly like this,” he added.
He spoke of the trillions of dollars of investment “coming into our country” from companies seeking to manufacture their goods in the U.S. to avoid tariffs.
“The rest of the world wants to know if there is room for deals,” he said.
Later, speaking to reporters aboard Air Force One, Mr Trump said he was open to using tariffs in negotiations with other countries, depending on whether they could offer something “phenomenal” in return.
He argues that other countries have been exploiting the United States for a long time and he wants to put an end to it.
“We've been on the wrong side for many years, and I'll tell you, I think this is going to be incredible,” he added as he left the White House to play in a Saudi-sponsored golf tournament at his club in Doral, Florida.
Sourse: breakingnews.ie
