US President Donald Trump offered a rosy assessment after the stock market dropped sharply on Thursday over his tariffs, saying: “I think it’s going very well.”
“The markets are going to boom, the stock is going to boom, the country is going to boom,” he said when asked about the market as he left the White House to fly to one of his Florida golf clubs.
The Dow Jones Industrial Average dropped more than 1,600 points on Thursday as US stocks led a worldwide sell-off after the Republican president’s announcement of tariffs against much of the world ignited a shock like none seen since the coronavirus pandemic.
Trump on Wednesday announced a minimum tariff of 10 per cent on imports, with the tax rate running much higher on products from certain countries such as China and those from the European Union.
The announcement jolted markets worldwide, but Trump said that was to be expected. He compared the United States with a sick patient in need of surgery when asked by a reporter for his reaction to the worst stock market drop in years.
“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 said, an apparent reference to the sell-off.
