President Donald Trump said Americans should hang on to their hats because the economy and the U.S. stock market are set to soar due to the favorable trade deals he’s rolling out.
Trump shared the exuberant outlook Thursday from the Oval Office, shortly after he and British Prime Minister Keir Starmer jointly announced a “breakthrough” trade deal.
“Go out and buy stock now,” the president said.
“Let me tell you, this country will be like a rocket ship that goes straight up. This is going to see numbers that nobody’s ever seen before,” he predicted.
TRUMP:
“You better go out and buy stock now. Let me tell you, this country is going to be like a rocket ship that goes straight up. We are going to see numbers like we’ve never seen before.” pic.twitter.com/w96vKIzMbq
— amit (@amitisinvesting) May 8, 2025
The financial markets shot up in reaction to Trump‘s bullish forecast.
The Dow Jones Industrial Average closed Thursday at 41,368, up 254 points, or 0.62 percent, CNBC reported.
The S&P 500 climbed 0.58 percent, to end the session at 5,663, while the Nasdaq Composite closed at 17,928, up 1.07 percent.
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Under the trade deal Trump signed, the United States and the United Kingdom agreed to modify tariffs and expand their economic partnership.
“The deal keeps in place a 10 percent baseline tariff on U.K. imports but cuts duties on cars, steel, and aluminum,” Fortune reported. “In return, the U.K. promised to buy more U.S. beef and ethanol and lower import taxes on 2,500 U.S. products.”
“A trade agreement — even if it’s an agreement in principle — is what the markets were looking to see,” Chris Zaccarelli, chief investment officer for Northlight Asset Management, said in a note to clients.
Meanwhile, the U.S. and China are set to meet in Switzerland this weekend to negotiate new trade deals amid a brewing trade war.
After jacking up tariffs on Chinese imports to a punishing 145 percent, the Trump administration is considering slashing them to 50 percent as early as next week, a source told The New York Post.
“They are going to be bringing it down to 50 percent while the negotiations are ongoing,” the insider said.
Trump said the tariffs can only go down at this point because they’re astronomically high.
“Right now, you can’t get any higher. It’s at 145, so we know it’s coming down,” he told reporters on Thursday.
President Donald Trump says if trade talks with China go well this weekend, tariffs could come down, and that the 145% tariffs on China “can’t get any higher” https://t.co/TrovfqlyVf pic.twitter.com/6g8QJg5d5C
— Bloomberg TV (@BloombergTV) May 8, 2025
Trump also suggested that hostilities are thawing between the two richest nations in the world after weeks of brinkmanship.
“I think we’re going to have a very good relationship,” he said. “You know, I always got along very well with President Xi.”
It’s entertaining to watch world leaders trash-talk each other, but the president is a businessman who knows the U.S. cannot remain the world’s foremost superpower with a weak economy.
Restoring the U.S. economy will go a long way toward fulfilling Trump’s bold promise to make America great again.
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