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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPresident Donald Trump urged Americans to remain calm and continue investing on Wednesday as his sweeping reciprocal tariffs hit, in an indication the White House was closely monitoring market reaction to the levies.
“THIS IS A GREAT TIME TO BUY,” Trump said Wednesday in a post to his social media site. The president also encouraged his followers to “BE COOL” and added his prediction that “everything is going to work out well.”
“The USA will be bigger and better than ever before,” he said.
As the president posted, stocks began staging a rally, with the Dow Jones Industrial Average, S&P 500 Index both turning positive and the Nasdaq 100 adding to gains.
Trump also highlighted an appearance by JPMorgan Chase & Co.’s Jamie Dimon on Fox Business on Wednesday morning, noting the bank chief had praised the idea of fixing tariffs and trade. Trump did not comment on Dimon’s prediction, in the same interview, that a recession was “a likely outcome” of Trump’s tariff moves.
Trump and other administration officials have largely downplayed market machinations following the decision to raise tariffs to their highest level in a century, arguing the effort would revitalize domestic manufacturing and that the president’s coming tax-cut bill would help grow the economy.
“For the last four decades, basically since I began my career in Wall Street, Wall Street has grown wealthier than ever before, and it can continue to grow and do well, but for the next four years,” Treasury Secretary Scott Bessent said Wednesday at the American Bankers Association’s Washington Summit.
“The Trump agenda is focused on Main Street. It’s Main Street’s turn. It’s Main Street’s turn to hire workers. It’s Main Street’s turn to drive investment, and it’s Main Street’s turn to restore the American Dream,” he said.
Still, the S&P 500 is down over 14% and the Nasdaq has fallen more than 19% since the beginning of the year, underscoring the challenge the administration faces as it pursues its overhaul of the international trade system.
Negotiations with partners including Japan, South Korea, Europe and India are expected to commence in the coming days, with Trump dangling the prospect of reducing or removing tariffs in exchange for trade and regulatory concessions from trading partners. But other countries—including, most prominently, China—have responded to Trump’s tariffs with matching retaliatory levies on U.S. exports.
Peter Tchir, head of macro strategies at Academy Securities, said Trump’s comments could be “read as a sign of confidence” because it could demonstrate “he’s paying attention to the markets.” But Tchir also urged caution.
“I need to see some details, people in the administration have been saying we aren’t headed for a recession but they aren’t doing anything about it,” Tchir said.
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If any past president did any of this, they’d have been exiled.
We Americans could never survive a world war – we have no patience and do not understand sacrifice!! Most of the American population totally sucks! China should take take over the USA, and do it now – because true American Public sucks for the most part! We have no clue what sacrifice is like. If we had a draft to storm the beaches of Normandy – we would loose!
This is not a world war in the same as WW I and II and we knew why we were making the sacrifices and knew what the end game was. In this case we have no idea as to what the end game is as our leadership cannot even articulate what the target is. Sacrifice with knowledge is different that what we are facing now.
Because the Boomer generation ruined America and now blame it on the next generation….
Thanks, boomers!
Frankie +1
No because we all suck!! The Greatest Generation was the beginning of the end for the good ole USA! I’ll be dead before that happens..but it’s coming! The American population SUCKS!!!