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. Speaking briefly to reporters as he departed the White House to go to a golf tournament in Miami, Trump dismissed the market sell-off, calling it “exactly the way it is” and likening the process to a surgery.
“I think it’s going very well,” Trump said. “It’s a big deal, and I’m happy it works this way.” He reiterated that the tariffs were necessary and part of a larger strategy to get a better deal for the United States, as countries affected by the tariffs would now want to negotiate. “The markets are going to boom, the stock is going to boom, the country is going to boom,” Trump added hopefully.
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.
