Gold bars to be exempt from tariffs, White House clarifies
Investing.com -- On Thursday, following his sweeping tariffs, which induced a sharp market sell-off, President Donald Trump expressed optimism about the future of the U.S. economy. In his remarks, Trump likened the situation to a major surgical operation, suggesting that while it may be significant and potentially unsettling, it is ultimately for the betterment of the patient’s health.
"I think it’s going very well," Trump said. "It was 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. We have six or seven trillion dollars coming into our country, and we’ve never seen anything like it. The markets are going to boom, the stock is going to boom, the country is going to boom."
Heading into the close of trading, the Dow is down 3.6%, the S&P 500 is down 4.4%, and the Nasdaq is down 5.5%.
Trump’s confidence stems from his belief that this capital will lead to a surge in the stock market and overall economic prosperity for the country.
Trump also addressed international trade relations, indicating that other countries are eager to negotiate deals with the U.S. He asserted that for many years, these nations have taken advantage of the U.S., but now there is a shift in the dynamic. According to Trump, the U.S. is no longer on the losing side of trade deals, and he anticipates that the country’s economic prospects will be "unbelievable."
The President further emphasized the magnitude of the expected investments, reiterating the figure of nearly seven trillion dollars. He encouraged the public and market observers to watch how these investments will transform the U.S. economy, predicting that the nation is on the brink of a significant economic boom.
In summary, despite the immediate market downturn as a reaction to the new tariffs, President Trump remains confident that his policies will lead to substantial economic growth and a stronger position in global trade. He foresees a robust future for the U.S. economy, driven by a massive influx of investment and improved trade agreements.