“I am not even looking at the market, because long-term, the United States will be very strong with what is happening here,” Trump said in response to a reporter’s question as to whether the exemption granted to Canadian and Mexican goods was in response to the stock market reaction.
The US has now granted an exemption to goods coming in from Canada and Mexico that are in compliance with the United States Mexico Canada (USMCA) agreement until April 2.
When asked again about the sell-off in the global markets, Trump blamed the “globalists” for the current market situation.
“I think it’s globalists that see how rich our country’s going to be and they don’t like it. Big market out there. But again, they’ve been ripping off this country for years. And they’re going to do great — everyone’s going to do great. But we can’t let this continue to happen to America. Otherwise we’re not going to have a country any longer,” the president said.
US markets saw a sharp sell-off on Thursday despite the Trump administration providing some relief to goods compliant under the United States Mexico Canada (USMCA) agreement until April 2. The sell-off on Thursday meant that the US markets are on course for the worst week since September 2024.
Commerce Secretary Howard Lutnick also mentioned that Donald Trump’s decisions are not influenced by the daily moves in the stock market.
“The president wants American growth and American prosperity, OK? And the fact that the stock market goes down half a percent or percent, it goes up half a percent or percent, that is not the driving force of our outcomes,” Lutnick said on CNBC Thursday. “The president is focused on rebuilding America, and you are going to see growth in America. You’re going to see interest rates drop 1% or more. You’re going to see the stock market explode.”
