Trump Tariffs: White Dwelling’s Leavitt Claims ‘No Anxiety,’ Tells Wall Boulevard To ‘Belief In President’ As Stock Market Falls

marketwatchinvestor Team May 14, 2025

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Trump Tariffs: White Dwelling’s Leavitt Claims ‘No Anxiety,’ Tells Wall Boulevard To ‘Belief In President’ As Stock Market Falls

Topline

White Dwelling press secretary Karoline Leavitt disregarded concerns about President Donald Trump’s widescale tariffs on foreign imports, claiming in interviews Thursday they wouldn’t motive “difficulty”—even because the inventory market plunged and totally different Trump officers acknowledged there could be also non permanent penalties for People.

President Donald Trump speaks within the route of an match to impart contemporary tariffs within the Rose Backyard on the … More White Dwelling on April 2.

Key Details

Trump imposed tariffs on imports from almost all foreign international locations Wednesday, which has spurred fears of a recession and precipitated the inventory market to take a nosedive, because the tariffs are projected to broadly amplify prices for American buyers.

Leavitt downplayed concerns in an interview with NewsNation, claiming there’s “no longer going to be any difficulty [from the tariffs] for American-owned corporations and American workers” and that People can “request model stability” and “to amass American” as a outcomes of the tariffs, also claiming “they are able to request their wages to head up.”

In a separate interview with CNN, the click secretary deflected questions relating to the non permanent difficulty Trump’s tariffs will motive as a outcomes of increased prices, announcing totally that the president is working “day by day” on easing People’ economic difficulty and is taking a “total-of-govt” capacity to the economic system that suggestions tariffs, weeding out rules and cutting taxes.

Leavitt’s feedback stand in sharp incompatibility to economic consultants who comprise warned Trump’s tariffs can also comprise a dire impact on the U.S.’ economic system, with JPMorgan Dash’s chief economist announcing Thursday morning the president’s policies will “take the economic system perilously conclude to slipping into recession.”

Her optimism also comes as Vice President JD Vance acknowledged to Fox News on Thursday that any anticipated economic advantages of Trump’s tariffs gained’t be rapid, asking People to “be pleased … that we’re no longer going to form things overnight” and announcing, “We’re fighting as rapid as we can to repair what became as soon as left to us, nonetheless it’s no longer going to occur suddenly.”

Necessary Quote

“To any individual on Wall Boulevard this morning, I would suppose, ‘Belief in President Trump,’” Leavitt told CNN according to the chaos within the markets Trump’s tariffs comprise precipitated. The White Dwelling spokesperson acknowledged the president is “doubling down on his proven economic formula from his first term,” and claimed the markets aren’t taking into myth “the broad earnings that these tariffs are going to elevate into the United States.”

What Has Trump Stated About The Tariffs?

Trump reiterated his enhance for his tariffs Thursday morning, announcing on Truth Social, “THE OPERATION IS OVER” and “THE PATIENT LIVED, AND IS HEALING.” “THE PROGNOSIS IS THAT THE PATIENT WILL BE FAR STRONGER, BIGGER, BETTER, AND MORE RESILIENT THAN EVER BEFORE,” Trump persevered, adding, “MAKE AMERICA GREAT AGAIN!!!”

What Maintain Other Trump Officials Stated About Tariffs?

Besides Leavitt and Vance, Commerce Secretary Howard Lutnick also downplayed the tariffs Thursday morning, acknowledging to CBS News that while “foreign goods can also change into a dinky bit extra costly … domestic goods [will]

no longer.” “So for the first time in your lives you are gonna in actual fact take into myth the Individuals who waste the products,” Lutnick argued.

When Will The Tariffs Seize Make?

Based on the White Dwelling, 10% tariffs will take elevate out on foreign imports at 12:01 a.m. EDT on Saturday morning, while increased tariff rates on many international locations’ goods will then take elevate out on April 9. Tariffs on imported vehicles and trucks took elevate out extra suddenly on Thursday, despite the proven reality that car formulation gained’t comprise tariffs levied until May maybe perchance 3. The tariffs will remain in elevate out “until such a time as President Trump determines that the risk” posed by but one more country’s exchange with the U.S. and taxes on U.S. goods is “ecstatic, resolved, or mitigated,” the White Dwelling acknowledged.

Key Background

Trump announced his in fashion reciprocal tariffs on foreign goods Wednesday in an match on the White Dwelling, because the president fulfilled a longtime campaign promise to levy tariffs on most imports. The tariffs comprise an impact on almost all international locations—the tariff list even integrated uninhabited islands—assign for international locations that already face excessive sanctions like Russia and North Korea. Trump has also already imposed tariffs on Canada and Mexico and didn’t comprise any extra taxes levied on them, despite the proven reality that imports from China will now face 54% tariffs after Trump added an additional 34% tax on goods from the country on high of tariffs that were already in set. The president has pushed ahead alongside with his thought for tariffs at the same time as they’ve been politically unpopular amongst People and broadly decried by economists, who comprise long projected any in fashion tariffs would raise the model of products and destabilize the economic system. Foremost inventory indexes recorded their ideal losses since 2020 on Thursday morning because the inventory market plunged according to the tariffs, with tech stocks like Apple and retail giants like Finest Aquire, Goal and Nike all registering in particular mammoth losses.