President Trump says tariffs going “very well”
Wall Street fell significantly following announcement
WASHINGTON (Gray DC) - As financial markets plummet from the future impact of the President’s just-announced trade tariffs, the White House is playing down Wall Street’s reaction.
Before his departure for a long weekend in South Florida, President Donald Trump said he remains confident that his massive tariffs on America’s trading partners would lead to a stronger U.S. economy.
President Trump answered a reporter’s shouted question as he departed for Florida, “I said this would exactly be the way it is. The markets are going to boom. The stock is going to boom. The country is going to boom — and the rest of the world wants to see is there any way they can make a deal.”
Wall Street however had a different view as the Dow, the S&P 500 and the tech-heavy NASDAQ all suffered huge losses. Financial markets fear that the president’s tariffs could lead to a trade war and possibly a global recession.
Gray Media’s White House correspondent Jon Decker asked Agriculture Secretary Brooke Rollins for her take on the stock market decline.
Jon Decker: “The financial markets are tanking today. Does Wall Street see things differently? Why are they declining so sharply?”
Agriculture Secretary Brooke Rollins: “Well, listen y’all, we are a couple hours in. The president announced this yesterday afternoon. We knew that there would be some, some of that as people are adjusting. But at the end of the day, yesterday marks step one. This will be a short time of uncertainty, and then we’ll move back to the prosperity that this president has envisioned.”
Economists forecast that the President’s tariffs on all imports to the U.S. will likely lead to higher prices on everything from toys to cars.
However, the President is playing down inflation fears, maintaining that in the long run his tariffs will lead to a huge benefit to America’s manufacturing sector.
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