University of New Haven professor: ‘Don't overreact’ to market volatility amid Trump’s tariff push
"Patience, patience, patience is my word to everybody. Don't overreact," said Professor Jim Mohs, of the University of New Haven.
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Professor Jim Mohs, of the University of New Haven, told News 12 that President Donald Trump’s tariffs that have caused worldwide market volatility will cause “short-term pain” but is not going to be permanent.
Mohs says he thinks the markets are reacting to consumer confidence and sees them bouncing back within the next six months or sooner.
"Patience, patience, patience is my word to everybody. Don't overreact," said Mohs.
President Trump says he won’t back down on his sweeping new tariffs. Countries are scrambling to figure out how to respond to the tariffs, with China and others retaliating quickly.
Trump’s tariff blitz fulfilled a key campaign promise as he acted without Congress to redraw the rules of the international trading system. It was a move decades in the making for Trump, who has long denounced foreign trade deals as unfair to the U.S.
The higher rates are set to be collected beginning Wednesday, ushering in a new era of economic uncertainty with no clear end in sight.
AP Wire Services were used in this report.
