Trump predicts stock market boom after market plunge from reciprocal tariffs

President Donald Trump on Thursday downplayed the sharp drop in the stock market following the announcement of his new "reciprocal" tariffs, assuring that he expects an economic rebound despite the tariffs' initial impact on most imported goods.

Speaking to reporters from the White House lawn, Trump said, “I think it’s going very well. It was an operation like what a patient gets operated on, and it’s a big thing.”

According to the president, the measure will inject "six or seven trillion dollars" into the US economy, leading to unprecedented prosperity for markets, stocks and the country.

“I said this would exactly be the way it is. We have six or $7 trillion coming in to 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.”

On Wednesday, at an event held in the Rose Garden of the White House, Trump presented his detailed plan on tariff taxes, which he dubbed the American "Day of Liberation."

There, the Republican announced tariffs that include a general rate of 10% for most countries, with higher exceptions for key partners: 20% for the European Union, 25% for South Korea and 24% for Japan.

These tariffs, which seek to counter US trade deficits, triggered a 3.3% drop in the Dow Jones Industrial Average mid-afternoon on Thursday. Nevertheless, Trump insisted that “the world wants to see, is there any way they can make a deal” and that "they’ve taken advantage of us for many, many years," anticipating "unbelievable" results going forward.