Pa. Sen. Dave McCormick cautions 'give it a little time' as the stock market swings

Hallie Lauer, Pittsburgh Post-Gazette on Apr 7, 2025

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As the stock market swung wildly in response to President Donald Trump's trade war, Republican U.S. Sen. Dave McCormick in Braddock, Pennsylvania, on Monday tried to offer reassurance that the uncertainty people were feeling would be "eliminated" in the "coming days and weeks."

"I don't want to be in the business of predicting stock markets," he said Monday morning as he toured the Eos Energy Enterprises manufacturing warehouse, "but in the end, if we're doing smart economic things ... the stock markets will keep up with that."

Last week, on what he was calling "Liberation Day," Trump imposed significant tariffs on several countries including China and a universal 10% tariff on all imported goods.

"I'm very worried about (the market)," McCormick said. "But let's give it a little time. Let's see how things play out here in the next couple days, in the next few weeks."

He said the tariffs were designed to "address a fundamental problem, which is that we've had unfair trading relationships around the country."

McCormick, who campaigned in Pennsylvania alongside Trump last fall, still seemed optimistic about the economy.

"The president's laid out a path," he said. "I'm looking forward to seeing him negotiate the kinds of deals that will make sure we have fairness. And if we do that, the real economy is going to be great."

McCormick's tour took him through the Eos Energy Enterprises manufacturing warehouse in the Mon Valley. Eos makes zinc-based batteries, as a lower-cost alternative to lithium-based batteries.

More than 90% of the company's materials are sourced domestically, but about 8% come from Canada, Mexico and Korea. The company expects to see a rise in prices for some of its materials.

"It's a concern," said Joe Mastrangelo, Eos Energy CEO. "We'll manage though."

Eos is in the process of finding domestic sourcing for that other 8%. Mastrangelo said Monday they hope to have those secured within the next 12 months.

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