U.S. President Donald Trump stated that he could impose even higher tariffs while meeting with chief executive officers (CEOs) of major U.S. corporations concerned about his tariff policy. The gathering was a regular meeting attended by CEOs from about 100 corporations, including Apple, JPMorgan, and Walmart.
According to Reuters, Trump noted during the "Business Roundtable" held in Washington, D.C. on the 11th that "tariffs have a tremendously positive impact on the economy and will continue to do so."
He continued, "(After announcing the tariff policy) corporations are increasing investments, such as building factories in the U.S.," adding that "they do not want to pay tariffs, whether it be 25% or any other rate." He went on to say, "Tariffs could be higher than (25%). The higher they are, the more corporations will build in the U.S., but ultimately the greatest achievement is not the tariffs. Tariffs are a significant achievement and a lot of money. However, the biggest achievement is if they come to our country and create jobs. That is a greater achievement than the tariffs themselves." However, he did not specifically explain which items might face tariffs higher than 25%.
The market is concerned that Trump's tariff policy could trigger a recession. As a result, the New York stock market is in decline. In response, Trump told reporters at the White House that "the market will go up and down," adding, "But you know, we have to rebuild our country." He continued, "Some people will buy stocks and bonds, and everything they live on to make good transactions."