Market slide over tariffs was expected, says Trump

The Star

US President Donald Trump said on April 3 that the market slide due to his decision to impose reciprocal tariffs was expected and the step was needed to heal the economy, which he called a sick patient.  Trump also said he was open to tariff negotiations.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00A company to run, or a number of companies to run.

00:03That he can do this, that he can find the time.

00:05He loves the country, that's why he does it.

00:09China, first row. China, 67%. That's tariffs?

00:15China.

00:28First, we'd love to get your reaction, sir, to what's going on in the financial markets today.

00:34Well, I mean, it's to be expected.

00:36This is a patient that was very sick.

00:40We inherited, we really inherited a terrible economy, as you know.

00:44With a lot of problems, including loss of manufacturing and plants closed up all over the country.

00:51You know, we've lost 90,000 plants since NAFTA, if you think of that.

00:5790,000, it's not even believable.

01:00And about 6 million jobs.

01:02And so it's a sick, it was a sick patient that went through an operation on Liberation Day.

01:09And it's going to be a booming country.

01:13A very booming country. It's going to be amazing, actually.

01:16And we see it because we have trillions of dollars committed to come in.

01:21Trillions.

01:22And now we let it settle in.

01:26You see the plants are starting to get construction already.

01:29We have many plants.

01:31Indiana, massive auto plant.

01:35Honda.

01:36We have so many plants and they'll be under construction.

01:40And as they start to build, you're going to see a lot of construction jobs.

01:43And you're going to see a lot of jobs when they open.

01:46Well, let's say it's a two-year process.

01:48You know, they start a plant and they're big plants.

01:50We're giving them approval to also, in many cases, to build the electric facility with it.

01:55So you have electric generation and the plant.

01:58And they're big plants.

02:00Now, the good news is there's a lot of money for them and they can build them fast.

02:03But they're still very big plants.

02:05So I'd always say it would take a year and a half to two years.

02:09The chips are starting very soon.

02:13The pharma is going to be starting to come in, I think, at a level that you haven't really seen before.

02:22We are looking at pharma right now, pharmaceuticals.

02:26It's a separate category.

02:28And we'll be announcing that sometime in the near future, not too distant future.

02:32That's under review right now.

02:34Are you into deals with these countries if they're calling you?

02:37Well, it depends.

02:38If somebody said that we're going to give you something that's so phenomenal, as long as they're giving us something that's good.

02:43For instance, with TikTok as an example.

02:46We have a situation with TikTok where China will probably say we'll approve a deal.

02:55But will you do something on the tariffs?

02:58The tariffs give us great power to negotiate.

03:01I always have.

03:02I've used them very well in the first administration, as you saw.

03:05But now we're taking it to a whole new level because it's a worldwide situation.

03:11You said that the Chinese might be willing to agree to approve that sale in exchange for tariff relief.

03:17Is that something that you've floated to them or you've heard from them?

03:20No, no.

03:21I'm just using that as an example.

03:23Let's say we had a problem with TikTok and let's say China wasn't going to approve.

03:29You could use tariffs in order to get it approved.

03:32You could have something in return.

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