President Donald Trump said the U.S. stock market suffered “a little glitch” in December but that it would go up once he negotiates trade deals with China and others.

“We had a little glitch in the stock market last month but it’s still up” since his election, Trump said during a Cabinet meeting at the White House on Wednesday. He pegged the increase at about 30 per cent.

The Dow Jones Industrial Average is up 27.3 per cent since Nov. 8, 2016 and the NASDAQ 100 index of large companies is up 32.3 per cent, but the broader S&P 500 index is up just 17.3 per cent.