Hoover Institution Senior Fellow Victor Davis Hanson said on Fox News Wednesday that the surge in U.S. stocks reflects confidence in President Donald Trump’s tariff strategy, especially towards China.
U.S. stocks surged Wednesday as Trump announced a 90-day suspension of tariffs for most countries, while simultaneously escalating the tariffs imposed on China. During an appearance on “The Ingraham Angle,” Hanson weighed in on the buoyant mood among investors, attributing it to a belief that Trump’s approach, particularly towards China, remains a lucrative bet for the U.S. economy.
READ: Alabama Sen. Tuberville Intros Bills To Combat Chinese Influence In U.S. Markets, Universities
“He’s wonderful. He’s a very good explicator. But they’re also looking at hard data, and they see that the annualized inflation rate in March went down. They looked at the jobs and surprised everybody by 100,000. They see that energy is getting more affordable,” Hanson told host Laura Ingraham.
“They look at that $5 trillion or $4 trillion in foreign investment, that calculates anywhere from five to 10 million new jobs. So there was all this data that was positive. They looked at his first term. He kind of went after Dodd-Frank. The market went up 65%, and then somebody said ‘Wait a minute. This is all a panic,’” Hanson said.
Hanson said that Trump’s clear focus on diminishing Chinese influence in global markets reassures investors.
READ: Geraldo Rivera Praises Trump For ‘Brilliant’ Tariff Moves: “Ambushed” And “Suckered” China
“This guy has always been good for us. And just take a deep breath. And I did think they did that when he announced that he was gonna focus on China,” Hanson added. “But he can have 90 days, and they know that he’s not gonna back down in 90 days, and they’re gonna make the necessary adjustments so they don’t have a choice. And they want to be in this market, especially with less China and more of them.”
China’s Ministry of Finance declared on Friday a new 34% tariff on all U.S. goods starting April 10. This action is a direct retaliation to the Trump administration’s similar tariffs on all Chinese imports, which caused a significant downturn in U.S. stocks after Trump announced his “Liberation Day” tariffs.
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First published by the Daily Caller News Foundation.
