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Former U.S. President Donald Trump has doubled down on his tariff strategy, dismissing fears over collapsing markets and calling the approach a necessary "medicine" to fix deep-rooted trade problems.
Markets React Sharply, But Trump Stays Unmoved
Speaking aboard Air Force One after a weekend in Florida, Trump commented on the ongoing financial turmoil, saying,
“Sometimes you have to take medicine to fix something.”
While trillions have been wiped off the markets, Trump emphasized that the long-term strength of the U.S. economy remains intact.
“What’s going to happen to the markets, I can’t tell you. But our country is much stronger,” he said.
Tariff Plans Moving Ahead Despite Global Concerns
Trump showed no signs of backing down from his recently announced reciprocal tariffs, including a staggering 34% tariff on Chinese imports. The announcement sent shockwaves through both U.S. and global markets, leading to a reported $6 trillion loss in stock value.
He stressed that foreign countries have exploited the U.S. for years due to weak leadership in the past.
“We have been treated so badly by other countries because we had stupid leadership that allowed this to happen,” he told reporters.
White House Officials Dismiss Recession Fears
Top Trump administration officials have brushed off investor concerns, stating that the tough approach is necessary for long-term gains.
Commerce Secretary Howard Lutnick told CBS:
“The tariffs are coming. Trump announced it and he wasn’t kidding.”
Meanwhile, Treasury Secretary Scott Bessent acknowledged that more than 50 countries have reached out to open discussions—but warned that such talks won’t resolve overnight.
“They’ve been bad actors for a long time… after decades of bad behaviour, you can’t just wipe the slate clean.”
Trump Claims Global Leaders Are Ready to Negotiate
Despite the backlash, Trump maintained that international leaders are eager to reach trade deals with the U.S.
“They are dying to make a deal,” he stated, hinting at upcoming negotiations.
