President Donald Trump was optimistic on Thursday regarding his tariff policy, even following a sharp sell-off in the markets after slapping new tariffs on U.S. trading partners. As he left the White House to attend a golf tournament in Miami, Trump addressed reporters, downplaying the market decline. He referred to the situation as “simply the way it is” and likened it to the experience of having surgery.
“I believe things are progressing quite positively,” Trump stated. “It’s significant, and I’m pleased with how it’s turning out.”He emphasized that the tariffs were essential as part of a broader strategy to secure a more favorable agreement for the United States. He suggested that the nations impacted by these tariffs would be inclined to engage in negotiations. Trump expressed a confident outlook, stating, “The markets are set to flourish, stock prices will rise, and our nation is on the brink of significant expansion.”
On Air Force One, Trump reiterated his position, saying the tariffs give the U.S. great power to negotiate. “We’re taking it to a whole new level,” he said, claiming that the tariffs were not just about trade but a broader global situation. He indicated that while the tariffs might cause short-term discomfort, they would ultimately benefit the American economy.
The Trump administration has been faulted for the economic effects of the tariffs, with the stocks in the major indices plummeting. The Dow Jones Industrial Average dropped 3.75%, the Nasdaq dropped 5.75%, and the S&P 500 dropped 4.4% in initial trading. The president was unfazed, mirroring earlier comments from Vice President JD Vance, who referred to the tariffs as a step towards reshaping the economy in a way Trump had campaigned for.
The world leaders, including China, have denounced the new tariffs, with Beijing calling on the U.S. to abandon its “unilateral tariff measures” and negotiate to resolve differences. Trump was not swayed by the international outrage, though, and was resolute to keep pushing his agenda of rewriting global trade relations in America’s interest.
The tariffs, which take effect on April 5 and April 9, will strike a series of significant countries, including China, with some facing up to a 54% tariff rate. As the global economy braces for the impact, Trump is standing firm in his belief that the long-term benefits will be worth any short-term economic hurt.
