Trump After Liberation Day: 'It Was an Operation' — 'The Markets Are Going to Boom' (April 3, 2025)

The day after he announced tariffs on the world, President Donald Trump was asked about that day’s drop in the stock market, and he compared the country to a patient in surgery. “I think it’s going very well. It was an operation, like when a patient gets operated on. And it’s a big thing. I said this would exactly be the way it is,” Trump said on the South Lawn on April 3, 2025, according to the transcript published by the American Presidency Project [1].

“We have $6- or $7 trillion coming into our country, and we’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom,” he said [1].

The video above shows Trump’s remarks on April 3, 2025. Quotes are from the American Presidency Project [1][2][3].

”This Could Be Yours”

On Air Force One, Trump held up a gold card with his face printed on it. “Five million—for 5 million dollars, this could be yours. That was the first of the cards. You know what that card is?” he said. “It’s the gold card. The Trump card, gold card.” [2]

Asked who the first buyer was, Trump said: “Me. I’m the first.” [2]

“It Was a Sick Patient”

On the plane, Trump explained the comparison. “You know, we’ve lost 90,000 plants since NAFTA—if you think of that, 90,000, it’s not even believable—and about 6 million jobs. And so it’s a sick—it was a sick patient. It went through an operation on ‘liberation day,’” he said [2].

“Yes, I think the operation—sure. The operation is over, and now we let it settle in,” Trump said, pointing to new plants, including what he called a “massive auto plant” for Honda in Indiana [2].

”Now They’ll Do Anything for Us”

Asked if he was negotiating with other countries, Trump said they had all called. “We put ourselves in the driver’s seat. If we would have asked some of these countries, almost—most of these countries to do us a favor, they would have said, ‘No.’ Now they’ll do anything for us,” he said [2].

“The tariffs give us great power to negotiate. Always have. I’ve used them very well in the first administration, as you saw. But now we’re taking it to a whole new level,” Trump said [2].

He said tariffs could help on TikTok too. “For instance, with TikTok, as an example, we have a situation with TikTok where China will probably say, ‘We’ll approve a deal, but will you do something on the tariff?’” Trump said [2].

“We have—we’re very close to a deal with a very good group of people for TikTok,” Trump said [2].

On Gaza, he said: “Well, we’re going to try and solve the Gaza problem. It’s been a problem for many years.” [2]

“No, I Haven’t Checked My 401(k)”

A reporter from the Daily Mail asked whether he had looked at his own investments. “I think our markets are going to boom. We’ve got to give it a little chance. But we’re taking in jobs, and we’re taking in industry. We’re taking in trillions of dollars,” Trump said [2].

“You’ve got to give that a little time. No, I haven’t checked my 401(k),” he said, as the room laughed [2].

Asked about interest rates, Trump said: “Well, one thing I like is interest rates going down. I see that happening.” He added: “I like groceries going down. I like eggs going down. If you look at it, and very importantly, the gasoline prices are going down.” [2]

“A Very Good Patriot”

Asked about meeting conservative activist Laura Loomer, Trump said: “So Laura Loomer is a very good patriot. She is a very strong person.” [2]

“She makes recommendations of things and people. And sometimes I listen to those recommendations, like I do with everybody. I listen to everybody, and then I make a decision,” he said [2].

”A Level That You Haven’t Really Seen Before”

Trump said more tariffs were coming. “The chips are starting very soon. The pharma is going to be starting to come in, I think, at a level that you haven’t really seen before,” he said [2].

“The steel factories are opening up and expanding at levels that people have not seen also,” Trump said [2].

By the Numbers

$6 trillion to $7 trillion: in investment coming in, per Trump [1].
90,000: plants lost since NAFTA, per Trump [2].
6 million: jobs lost, per Trump [2].
10 percent: the reciprocal tariff during the 90-day pause Trump announced April 9 [3].

What Happened Next

Trump paused the tariffs for most countries and raised them on China. On April 9, 2025, he posted: “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately.” [3]

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote, after “more than 75 Countries have called Representatives of the United States” to negotiate [3].

For Trump’s Liberation Day promise, see HYGO News’ page on March 28, 2025. For the trade deal Trump reached with Japan that July, see the page on the AI summit, July 23, 2025.