US State Secretary Marco Rubio has downplayed concerns over market volatility following new tariffs announced by President Donald Trump. Speaking at a briefing, Rubio said initial stock market reactions were expected as businesses adapt to rising production costs, particularly in China.
He defended the trade policies, arguing that the US economy has long been structured in a way that benefits other nations at America’s expense.
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Rubio insisted that once companies adjust to the new trade landscape, the markets will stabilise. His comments come after Trump introduced a 10% flat-rate tariff on all imports, with some reaching as high as 54%.
Trump defended the move, saying, “U.S. taxpayers have been ripped off for more than 50 years, but it’s not going to happen anymore.” The tariff plan has sparked global concern, with economists warning of potential trade retaliation from major US partners..
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