President Trump defended his imposition of tariffs, dismissing concerns about the resulting global market downturn. He stated that addressing significant US trade deficits was necessary, comparing the economic impact to taking 'medicine' to solve a problem.
Trump mentioned conversations with world leaders who, he claims, are eager to negotiate trade deals. However, he emphasized that he would only do so if the US trade deficits were resolved.
Trump asserted that tariffs are the only viable solution to cure the nation's substantial financial deficits with countries like China and the European Union. He views them as a positive measure for the United States, despite current market reactions.
Further market declines were anticipated in the US upon the opening of markets, following already significant drops.