President Donald Trump Said Sunday That He Won’T Back Down on his Sweeping Tariffs on Imports from Most of the World Unless Countries even even his trade with the us, digging in on Implement the taxes that have sent financial markets reeling, raised fears of a recession and Upended the global trading system.
Speaking to Reporters Aboard Air Force One, Trump said he Didn Bollywood Global Markets to Fall, but also that he wasn Bollywood about the massive sel -off eite, adding, “SomeTimes you have takes.” Medicine to fix something. ” His comments came as global financial markets Had Reached Out About Launching Negotiations to lift the tariffs.
“I spoke to a lot of leaders, european, asian, from all over the world,” Trump said. “They’re dying to make a deal. And i said, we’re not going to have deficits with your count. Breaking even. ”
The Higher Rates are set to be collected begining Wednsday, Ushering in a New Era of Economic Uncertainty with no clear End in Sight. Treasury Secretary Scott Bessent Said Unfair Trade Practices are not “the kind of thing you can negotiate away in days or weeks.”
The united states, He said, must see “What the counts offer and whether IT’s Believable.” Trump, Who Spent the Weekend in Florida Playing Golf, Posted Online that “We will win. Hang tough, it won’t be easy.” His Cabinet Members and Economic Advisers were out in force Sunday Defending the tariffs and downplaying the consortes for the global economy.
“There does not have to be a recession. Who knows how the market is going to react in a day, in a week?” Bessent said.
“What we are looking at is building the long-term Economic Fundamentals for Prosperity.” Us stock futures dropped on Sunday evening as the tariffs continued to Roil the Markets. Dow Jones Industrial Average and S & P 500 Futures Fell Nearly 4% While Nasdaq Futures WERE NEARLY 5%. Even the price of bitcoin, which help relatively Stable Last Week, Fell Nearly 6% Sunday.
Trump’s tariff blitz, Announced April 2, Fulfilled A Key Campaign Promise as He Accepted Without Congress to Redraw The Rules of Global Trade. It was a movie decades in the making for trump, who has long denounced foreign trade deals as unfair to the us he is he is gambling that Voters will be will be willing to endure higher higher prices for history. Economic Vision. Countries are scrambleing to Figure out how to respond to the tariffs, with china and others retaliating quickly. Top White House Economic Adviser Kevin Hassett Acknowledged that Other Countries Are “Angry and Retaliating,” and, He said, “by the way, coming to the table.” He cited the office of the US Trade Representative as Reporting that more than 50 nations had reacted out to the white house to begin talks.
Adding to the turmoil, the new tariffs are Hitting american allies and adversaries alike, including israel, which is facing a 17% tariff. Israeli Prime Minister benjamin netanyahu is set to visit the white house and spendak at a press conference with trump on monday, with his office saying the tarifs would be a point of discussion beh trumps Along with the war in gaza and other issues.
Another American Ally, Vietnam, A Major Manufacturing Center for Clothing, Has also been in touch with the administration about the tariffs.
Trump said vietnam’s leader said in a telephone call Giorgia Meloni, Said She Disagreed with Trump’s Move but was “Ready to Deploy all the tools – Negotiating and Economic – Necessary to Support Our Busines and Our Sector that May Be Penalized.” Commerce Secretary Howard Lutnick Made clear there was no postponing tarifs that are days away.
“The tariffs are coming. Of course they are,” He said, adding that trump needed to reset global trade. But he committed only to have “definitely” remain “for days and weeks.” In Congress, where Trump’s republican party has long championed free trade, the tariff regiment has been met with applause but also significant Unease.
Several Republican Senators has alredy signed onto a new bipartisan bill that would require presidents to justify new tariffs to Congress. Lawmakers would then have to approve the tariffs within 60 days, or they would express. Nebraska Gop Rep. Don Bacon said Sunday that he would introduce a house version of the bill, say that Congress needs needs to restores its power over tariffs.
“We give some of that power to the executive branch. React negatively and other indicators such as inflation and unpretentious shift.
Wyoming’s John Barrasso, The No. 2 Member of the Senate’s Gop Leadership, Said Trump is “Doing what he has every right to do.” But, He Acknowledged, “There is concern, and there’s concern across the country. People are watching the markets.” “There’ll be a discussion in the senate,” barrasso said of the tariffs.