Donald Trump, the president of the US, doubled down on his decision to impose severe tariffs on imports from all over the world on Sunday, saying he would never back down unless business imbalances with the US were resolved.
Trump acknowledged the financial confusion brought on by the taxes, but said the move was necessary for long-term balance while speaking to reporters on Air Force One.
When asked,” Is there pain in the market at some point you’re willing to handle?”
Trump vehemently responded to the writer’s problem,” I think your question is so stupid.”
Trump remarked about the sharp market decline triggered by his trade techniques, saying,” I don’t want anything to go down, but sometimes you have to take medicine to resolve something. We have been treated so badly by another places.”
US stock futures fell nearly 4 % on Sunday evening, while Nasdaq futures dropped nearly 5 %, and the president made the remarks as global markets prepared for more volatility. Bitcoin also lost about 6 %.
Trump showed no signs of reversing despite growing concerns about a crisis. They “are dying to make a deal,” he told world leaders, adding,” We won’t have imbalances with your land.” We’re going to have deficits or, at the very least, will break even.
These were not problems that could be solved overnight, according to Treasury Secretary Scott Bessent, and the US would thoroughly evaluate offers.
Major financial director Kevin Hassett claimed more than 50 countries had approached the White House to begin negotiations, but that he had admitted that some governments were retaliating.
Trump’s administration worked to protect the tariffs in public while he spent the weekend sports in Florida. There is no need for a crisis, Bessent said. ” We are focusing on developing the long-term monetary foundations for prosperity,” he said.
Trump even used social media to sway people’s confidence by saying,” WE WILL WIN. It didn’t be simple if you HANG TOUGH.
