Trump: Stocks Will 'Bounce Back Very Big'

President defends new travel rules
By Newser Editors,  Newser Staff
Posted Mar 12, 2020 1:48 PM CDT
Trump Defends New Travel Rules
President Trump speaks during a meeting with Irish Prime Minister Leo Varadkar in the Oval Office of the White House, Thursday, March 12, 2020, in Washington.   (AP Photo/Evan Vucci)

President Trump on Thursday defended new rules barring travel from most of Europe to the US. "I don't want people dying," the president told reporters at the White House, per Politico. "I made a very tough decision last night." European officials were angry that Trump did not consult with them before his prime-time announcement, but Trump brushed off those concerns because he said he had to act fast. "I mean, when they raise taxes on us, they don't consult us, and I think that's probably one in the same," he said. As for the negative reaction by global markets, Trump asserted that stocks are "going to bounce back very big at the right time."

In terms of the markets, he added: "Whether it affects the stock market or not, very important, but it's not important compared to life and death. And I think you will see the end result is very good because of it. But it'll take a period of time." Also:

  • Emergency declaration: The president suggested he is considering declaring a national emergency that would free up more money and aid, reports the Hill.
  • Restrictions in US: Trump also said the White House is considering travel restrictions to certain areas of the US if things worsen, reports NBC News. "Is it a possibility? Yes. If somebody gets a little bit out of control, if an area gets too hot."
(Read more coronavirus stories.)

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