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"The markets will adjust." This is what US Secretary of State Marco Rubio said, reacting to the decline in stocks after the announcement of tariffs by the US.
At his briefing, US Secretary of State Marco Rubio was asked about the tariffs announced by President Trump, while he attempted to downplay the impact, stressing that "their economies are not collapsing - markets are reacting to a dramatic change in the global order in terms of trade."
" What happens is pretty straightforward. If you're a company and you manufacture a bunch of your products in China and suddenly, shareholders or people who play the stock market realize that it's going to cost a lot more to manufacture in China, your stock is going to go down.
But ultimately, the markets, as long as they know what the rules are going to be going forward, will adapt ," Rubio said.
He explained that the US has "the largest consumer market in the world, and yet the only thing we export is services and we need to stop that."
“We need to go back to a time where we are a country that can do things,” he added. Rubio said that “the president has rightly concluded that the current status of global trade is bad for America and good for a bunch of other people. And he’s going to restore it, and he’s absolutely right to do that.”
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