GAI Vice President Eric Eggers hit Newsmax recently to talk tariffs.
Yes, the market took a $6 trillion hit—but he’s betting on long-term gains.
Eggers correctly points out that Trump’s trade policies actually help his base, who aren’t big stockholders. Prices might spike for now, but Eggers thinks the tariffs could shake up global trade and boost the economy within a year.
“Obviously, the losses in the stock market are not ideal, but let’s remember who Trump’s key constituencies are right now: people earning less than $40,000 a year,” Eggers said. “These low-propensity voters, a majority of them don’t own stock. A majority of people aged 18 to 29, there was a lot of reporting about how many new voters, people that listen to the podcast Trump brought in.”
“A majority of them don’t own stock either.”
“I think it’s funny that when the Obama Administration says, ‘We’re going to fundamentally reshape the economy’ and ‘people who are coal miners are going to learn how to code,’ everyone says, yeah, that sounds great. But Trump says, well, actually, what’s going to happen is we’re going to fundamentally reshape global trade.”
Eggers continued: “China is going to produce less. They’re going to consume more. We’re going to produce more and consume less. It’s a Herculean task. It’s going to be a challenge. But I think their focus is on the companies, not the countries. And so what you hear Marjorie Taylor Greene saying is these companies that are announcing plans to come back, it’s ultimately going to bolster the equity market.”
“I think in a year will be just fine. And if I had capital I was sitting on, I’d be investing because right now stocks are on sale.”
Watch the clip above.
