'Markets are going to boom': Donald Trump dismisses concerns over new tariffs

UPDATED: Apr 4, 2025 00:37 IST

Amid a sharp decline in the stock market triggered by 'reciprocal' tariffs, President Trump remained optimistic about the economic outlook.

Speaking to reporters on the White House lawn, Trump dismissed concerns over the immediate impact of the new tariffs on imported goods, expressing confidence in a swift recovery and a booming market ahead.

“I think it’s going very well. The markets are going to boom, the stocks are going to boom,” Trump told reporters.

"The country is going to boom — and the rest of the world wants to see is there any way they can make a deal," Trump said. "I think it's going to be unbelievable," Trump further added.

On Wednesday afternoon, President Trump unveiled his ambitious 'Liberation Day' tariffs, marking a significant shift in US trade policy. The measures include a universal 10% tariff on imports from most countries, alongside steeper rates for key trading partners — 20% for the European Union and 24% for Japan.

Meanwhile, US stocks sank on Thursday, with the bloodbath engulfing megacap technology names and small companies alike, as Trump's sweeping tariffs on major US trade partners ignited fears of an all-out trade war and a global economic recession. Investors fled from risky assets, seeking the safety of government bonds, after Trump slapped a 10% tariff on most US imports and much higher levies on dozens of other countries.

The tariffs, poised to disrupt the global trade order, highlight a stark shift from just a few months ago when the promise of business-friendly policies under the Trump administration propelled US stocks to record highs.

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