Trump Admits There's 'A Little Disturbance' From Tariffs But Insists 'We're OK With That'
HuffPost
Stock markets sank on Tuesday as the Trump administration implemented new tariffs against Canada and Mexico.
President Donald Trump said Tuesday there would be “a little disturbance” from his budding trade war but insisted it wouldn’t be a big deal.
“There will be a little disturbance, but we’re OK with that,” Trump said during his address to a joint session of Congress. “It won’t be much.”
Investors might beg to differ as the gains from the postelection “Trump bump” disappear amid the tariff news.
Stock markets dropped sharply on Tuesday as the Trump administration implemented new 25% levies against goods from Canada and Mexico. The Dow Jones Industrial Average fell 1.6% and ended the day down on the year.
Automakers were among those that declined amid fears Trump’s tariffs would disrupt North American supply chains. Many U.S.-sold cars are assembled in Canada and Mexico, while auto components move back and forth over the borders before they make it into vehicles.
The president's "little disturbance" admission did not go down well.
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Stock markets sank on Tuesday as the Trump administration implemented new tariffs against Canada and Mexico.
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