President Donald Trump urged analysts to have a different approach to the U.S. economy, contrasting reactions to China’s “100-year perspective.”
In an interview on Fox Business’s Sunday Morning Futures, host Maria Bartiromo pressed Trump on business figures’ concern about tariffs hurting the stock market and the economy more broadly. After dismissing concerns about the stock market, saying it hasn’t gone down by much, the president said that economic analysis shouldn’t revolve around the stock market.
“Look, what I have to do is build a strong country. You can’t really watch the stock market. If you look at China, they have a 100-year perspective. We have a quarter. We go by quarters,” Trump said.
“And you can’t go by that. You have to do what’s right. We’re building a tremendous foundation for the future, tremendous foundation. Everything’s been taken away. We don’t make ships anymore,” he added, noting his efforts to revitalize the shipbuilding industry.
“Honda, Toyota, they’re all coming in. You take a look at what’s happened, the chipmakers, the biggest … by far is going to spend $200 billion on making a massive plant to make chips,” Trump said.
He noted that there would be a “transition period” economically.
Trump previously noted during his Tuesday address to Congress that there would be “a little disturbance” as his economic agenda took shape.
“There will be a little disturbance, but we’re OK with that,” he told lawmakers. “It won’t be much.”
TRUMP OFFICIALS ACKNOWLEDGE TEMPORARY PAIN AMID TARIFFS AND MARKET UNEASE
Other Trump administration officials have used similar rhetoric.
“There’s going to be a natural adjustment as we move away from public spending to private spending,” Treasury Secretary Scott Bessent said. “The market and the economy have just become hooked. We’ve become addicted to this government spending. And there’s going to be a detox period.”
This article was originally published at www.washingtonexaminer.com
