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U.S. Secretary of State Marco Rubio acknowledged today that “markets are crashing” after the Trump administration introduced major global tariffs. However, he placed the blame on China and insisted the situation would improve over time.
“Businesses around the world, including those in trade, just need to know what the rules are. Once they know, they will adapt,” Rubio told reporters at a NATO meeting in Brussels. He was responding to questions about how the tariffs were affecting European economies.
Rubio explained, “Markets are crashing because they’re based on the stock value of companies. Right now, many companies are part of systems that don’t benefit the U.S. economy.”
“We need to change the way global trade works,” he added. “The worst thing would be to leave things as they are forever. We can’t keep being a country that doesn’t make things.”
Rubio singled out China as an example, saying, “It’s outrageous. They don’t consume much; they just export and mess with markets, not to mention all the tariffs and barriers they put up.”
These comments come after China announced it will impose a 34% tariff on all U.S. imports starting April 10.
Rubio defended President Trump’s decision to tackle global trade issues, saying, “The president is right to change the way things are. The current global trade setup benefits other countries more than the U.S., and it’s time to fix that.”
Rubio also reassured allies on US commitment to NATO amid Trump’s tariff tensions.
Watch a portion of his remarks in the video below.
