U.S. President Donald Trump has predicted strong economic growth and surging markets following his administration’s sweeping tariff announcement, despite global criticism and an immediate market downturn. Speaking briefly to reporters, Trump said the measures would bring trillions of dollars into the U.S. economy and insisted that both the economy and stock market would "boom" as a result of the policy.

The announcement includes a declaration of a national economic emergency and the imposition of a minimum 10 percent tariff on all countries, with significantly higher rates for 60 nations. According to U.S. media, tariffs include 26 percent on India, 49 percent on Cambodia, 46 percent on Vietnam, 34 percent on China, 24 percent on Japan, and 20 percent on the European Union. In total, more than 180 countries and regions are expected to be affected by the new trade duties.

Trump stated that foreign countries have taken advantage of the United States for decades, and the current move aims to correct that imbalance. “The rest of the world wants to see if there's any way they can make a deal,” he said, reaffirming his stance on fair and reciprocal trade. He added that the new policy would generate between six to seven trillion dollars for the U.S.

Despite the optimistic projection, the initial market reaction was sharply negative. U.S. stocks, which had closed higher before the announcement, fell significantly during after-hours trading following Trump’s remarks from the White House Rose Garden. Dow futures dropped by 256 points, or 0.61 percent. S&P 500 futures fell by 1.69 percent, and futures linked to the Nasdaq 100 declined by 2.54 percent. Exchange-traded funds tracking those indexes mirrored the decline, with the ETF tied to the Nasdaq 100 losing 3 percent.

Attention now turns to Asia, where investors will be watching closely to gauge the impact as markets open for trading.