Despite market turmoil following sweeping new tariffs, deputy Treasury Secretary Michael Faulkender said Thursday on Newsmax that Americans must focus on President Donald Trump’s “broader economic agenda” aimed at long-term prosperity.

Speaking on “Finnerty,” Faulkender responded to concerns that Americans are feeling financial pressure in the short term. The remarks came just one day after the S&P 500 dropped 4.8% — its worst day since the COVID-19 pandemic crashed markets in 2020. The Dow Jones Industrial Average fell 1,679 points, or 4%, and the Nasdaq composite plunged 6%, according to PBS.

Asked whether the Treasury Department had plans to ease the strain on Americans, Faulkender said, “We are, and I really think that this needs to be viewed in the context of the president’s broader economic agenda.”

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