Vance said « in some ways it could be worse » after stocks posted their worst day since 2020 in response to Trump’s tariffs.
Vice President JD Vance said Thursday that things « could be worse » after the stock market posted its single worst day since June 2020 in response to President Donald Trump’s plan to impose sweeping tariffs on more than 180 countries.The Context
Trump announced on Wednesday that he would slap at least a 10 percent « baseline » tariff on all imports. He also singled out about 60 countries that would face what he described as « discounted reciprocal tariffs » over their trade policies, which Trump believes are unfair.
U.S. and global markets reeled on Thursday as economists, analysts and investors sounded the alarm about the potentially devastating impact Trump’s tariffs could have on the global economy.
World leaders also pledged to retaliate, though some struck a more measured tone by refraining from commenting or saying they would continue working with the U.S. on a trade deal.What To Know
Asked what his reaction was to the stock market plunging, Vance told Newsmax: « We’re feeling good. Look, I frankly thought in some ways it could be worse in the markets because this is a big transition. »
He went on to reference Trump’s remarks from earlier in the day, in which the president said his tariffs were akin to performing an « operation » on a sick person. He also said markets would « boom » as a result of the tariff policy.
« You saw the president said earlier today: It’s like a patient who was very sick.
