While Wall Street digests the shockwaves from sweeping reciprocal tariffs, President Donald Trump remains unfazed—and unapologetically bullish. Speaking Thursday at the White House, Trump brushed off recession fears and inflation worries, declaring confidently:

“The markets are going to boom.”

This bold claim comes just 24 hours after the president imposed tariffs of at least 10% on virtually all imports—with some nations facing much higher rates. The move rattled financial markets, sparked fierce criticism from global leaders, and raised red flags from major banks. But Trump is doubling down.

“We’ve leveled the playing field. We’re bringing jobs back, factories back, and the market will reflect that,” he said.

Wall Street Response: Jittery, Not Jubilant

Despite Trump’s optimism, markets haven’t exactly cheered:

  • The S&P 500 closed down 4.84 % today.
  • The Nasdaq continues to slide, led by tech and automakers.
  • Safe-haven assets like gold and Treasuries have surged.

JPMorgan warned the tariffs represent the biggest tax hike since 1968, potentially shaving real incomes and pushing the economy closer to recession.

Meanwhile, Morgan Stanley scrapped its forecast for a June Fed rate cut, citing “tariff-induced inflation.” Analysts across the board caution that the global economy is entering uncharted territory.

Trump’s Case: “This Is Economic Independence”

The White House insists these tariffs are long overdue and will jumpstart a manufacturing revival. Trump believes that the short-term turbulence will give way to long-term prosperity.

“This is economic independence,” he said Wednesday. “It’s about time we stood up for the American worker.”

He also claimed tariffs will lower prices by increasing competition and incentivizing domestic production—despite widespread disagreement from economists.

Global Fallout Continues

More than a dozen countries have threatened retaliation. The European Union, China, Canada, Mexico, Japan, and others are actively preparing countermeasures. The risk of a full-blown global trade war is now very real.

Still, Trump remains resolute: “America first is not just a slogan—it’s a reality. The stock market will thank us soon enough.”

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