'Fantastic,' 'detrimental,' or 'immediate pain' - people on Wall Street react to Trump's tariffs

Record ID: 1988006

  • Title: 'Fantastic,' 'detrimental,' or 'immediate pain' - people on Wall Street react to Trump's tariffs
  • Date: 3rd April 2025
  • Summary: NEW YORK, NEW YORK, UNITED STATES (APRIL 5, 2025) (REUTERS) VARIOUS OF NEW YORK STOCK EXCHANGE EXTERIORS (3 SHOTS) STREET SIGNS READING (English) “WALL ST.” (RIGHT) AND “BROAD ST.” (LEFT) SAM MOSER, RESIDENT OF FORT WORTH, TEXAS, WHO ALSO WORKS IN SALES IN NYC, SITTING ON BENCH OUTSIDE NEW YORK STOCK EXCHANGE (SOUNDBITE) (English) RESIDENT OF FORT WORTH, TEXAS, WHO ALSO WO
  • Embargoed:
  • Keywords: NYSE President Donald Trump U.S. Wall Street economy investors stock market stocks tariffs
  • Location: NEW YORK, NEW YORK, UNITED STATES
  • City: NEW YORK, NEW YORK, UNITED STATES
  • Country: US
  • Topics: North America,Government/Politics
  • Reuters ID: LVA001399603042025RP1
  • Aspect Ratio: 16:9
  • Story Text: New York City residents and visitors outside of the New York Stock Exchange on Thursday (April 3) morning offered a mixed assessment of President Donald Trump’s sweeping new tariffs.
    “It's hard to find the positive side of this,” said New York City resident Chad R. MacDonald. “The whole reason he was elected was he was going to be bringing prices down. So, he's doing the opposite.”
    “I think it's the right move,” said Sam Moser, a resident of Forth Worth, Texas, who also has an office in New York City.
    Most agreed that many of the longer term implications remain unknown.
    "Could be positive, could be negative. But it's a really large question,” said Nick Burkle, a resident of Cedar Rapids, Iowa, who was in NYC for business.
    Megacap U.S. tech companies including Apple and retail giants Walmart and Nike led a global market meltdown on Thursday as Trump’s new tariffs heightened fears of a spike in costs across a wide range of industries.
    The tariffs, which threaten to destabilize the world trade order and unsettle businesses, mark a sharp reversal from just a few months ago when hopes of business-friendly policies under the Trump administration pushed U.S. stocks to record highs.
    Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on dozens of other countries, pushing U.S. tariffs to the highest in more than a century, according to Fitch Ratings.
    Analysts and economists warned that hefty tariffs on imports from Asian manufacturing hubs and potential retaliatory measures could rattle global supply chains and dent corporate profit margins.
    (Production: Justin Nathanson, Christine Kiernan)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2025. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register