Americans should "take a step back and look at the whole picture" while not panicking as the stock market plunges following President Donald Trump's tariffs, his former adviser Jason Miller said Monday on Newsmax.
"The fact of the matter is that Joe Biden had the country very much on a downward trajectory," Miller told "Newsline."
"There's so much damage that was done with the reckless stimulus spending that caused the inflation under Joe Biden. And also, we can look at the previous neglect from decades of failure from politicians of both parties when it comes to trade deals, things of that nature, whether it be NAFTA or China's entry into the WTO. So, the trajectory for the country was not good," he added.
U.S. stocks fluctuated Monday as Trump doubled down on his tariffs.
The S&P 500 was in the red and green in midday trading, coming off its worst week since COVID began crashing the global economy in March 2020. The Dow Jones Industrial Average was down 744 points, or 1.9%, as of noon Eastern time, and the Nasdaq composite fell and rose all day.
Miller said Trump is "resetting the table when it comes to trade terms.
"He has the big tax cut bill that will be coming. That will really give a spark and energy going into the economy, as well as continued deregulation efforts, where we're already starting to see the cost of oil come down. We're seeing interest rates come down," he told Newsmax.
"And on the other side, here's what Americans are going to have. We're going to have more jobs. We're going to have better paying jobs. And national security issue will be addressed. And the fact that we're actually making things here in the United States once again, and I think ultimately what this will do is ... prices will start to come down because it went up so much under Joe Biden between the restrictions on fuel production and then also with the stimulus, reckless stimulus spending. This is the comprehensive plan that President Trump is coming up with now."
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Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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