Trump predicts stock market rebound after tariffs plunge: ‘Markets are going to boom’

WASHINGTON — President Trump brushed off a steep stock market plunge Thursday following adoption of his “reciprocal” tariffs — saying he expected a reversal of the brutal impact of new fees on most imported goods.

“I think it’s going very well,” Trump told reporters on the White House lawn.

“The markets are going to boom, the stocks are going to boom.”

The president said other countries “have taken advantage of us for many, many years.”

Trump on Wednesday afternoon announced his sweeping “Liberation Day” levies, including a 10% tariff on most countries and higher rates on some key trading partners, including a 20% tariff on the 27-nation European Union and 24% on Japan.

The Dow Jones Industrial Average fell more than 3.3% as of mid-afternoon Thursday.