Trump addresses stock market losses, China trade deficit

The president spoke with reporters aboard Air Force One on Sunday.

ByAlexandra Hutzler, Ivan Pereira, William Mansell, and Max Zahn
Last Updated: April 7, 2025, 2:30 AM EDT

The fallout continues after President Donald Trump's unveiling of severe tariffs against virtually all U.S. trading partners.

On Sunday, ABC's "This Week" anchor George Stephanopoulos pressed White House National Economic Council Director Kevin Hassett about Trump reposting a video that said he was tanking the markets to force the Fed to lower interest rates. Hassett said Trump was entitled to his opinion, but denied that his tariff policy was intended to put pressure on the Fed to lower rates.

Trading on Thursday and Friday marked the worst days for U.S. stocks since 2020.

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Apr 03, 2025, 10:39 AM EDT

Stellantis to temporarily lay off 900 US employees in response to tariffs

Jeep maker Stellantis said on Thursday it will temporarily pause production at two plants: one in Windsor, Canada plant and another in Toluca, Mexico.

A drone view of Stellantis's Chrysler Windsor Assembly facility in Windsor, Ontario, Canada, February 4, 2025.
Carlos Osorio/Reuters

As a result, there will be temporarily layoffs for 900 employees at their American plants. Those locations include Warren Stamping and Sterling Stamping plants in Michigan as well as the Indiana Transmission, Kokomo Transmission and Kokomo Casting plants in Indiana.

The company said it's doing this as it assesses the medium and long-term effects of tariffs. The Trump administration's 25% auto tariff took effect earlier Thursday.

-ABC News' Zunaira Zaki

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