Trump does not consider stock market when drafting tariff policies

US President Donald Trump

US President Donald Trump said Thursday that his administration would not take into account stock market reaction when hammering out the details of its tariff policy.

Trump said the decision had nothing to do with the market, when asked whether the decision to pause tariffs on many products from Canada and Mexico for one month was due to the stock market

“This is very much about companies and countries that have ripped off this country, our country, our beloved United States. And they’re not going to be ripping us off any more. So, you know, I think that has an impact on the market,” Trump added.

Trump was later asked again about the market sell-off and blamed “globalists,” a term he had used to describe companies and countries earlier in the event.

“I think it’s globalists that see how rich our country’s going to be and they don’t like it. Big market out there. But again, they’ve been ripping off this country for years … Otherwise we’re not going to have a country any longer,” the US President said.