TPO – President Donald Trump said he will not back down from imposing comprehensive tariffs on imports from most countries in the world, unless those countries balance trade with the US.
Speaking to reporters aboard Air Force One on April 6, US President Trump said he did not want the global market to collapse, but was not worried about a massive sell-off.
“Sometimes you have to take medicine to heal something,” he said.
Trump’s remarks came as global financial markets continued to fall sharply in the first trading session of the week. Trump’s aides also tried to calm investors by announcing that 50 countries had contacted the US to propose negotiations to lift tariffs.
“I’ve spoken to many leaders, European, Asian, from all over the world. They’re very keen to make a deal. And I said, we’re not going to have a deficit with your country. We’re not going to do that, because to me, a deficit is a loss. We’re going to have a surplus or worse, a tie,” Trump said.
The reciprocal tariffs will take effect on April 9, ushering in a new era of economic uncertainty with no clear end in sight.
Treasury Secretary Scott Bessent said unfair trade practices were not “an issue that can be negotiated in a matter of days or weeks.” He said the US had to look at “what countries are putting out there and whether they are credible.”
As markets tumbled and protests erupted across the country, Mr. Trump spent the weekend in Florida playing golf. “WE WILL WIN. TRY, it won’t be easy,” he wrote in a social media post.
Countries are racing to figure out how to respond to the new tariffs, after China and many others quickly retaliated.
Top White House economic adviser Kevin Hassett admitted other countries were “angry and retaliating”.
The new tariffs will affect both US allies and rivals, with Israel facing a 17% tariff. Israeli Prime Minister Benjamin Netanyahu will visit the White House and hold a joint press conference with Mr Trump on April 7.
Italian Prime Minister Giorgia Meloni disagreed with Mr Trump’s actions but was “ready to deploy all the necessary economic and negotiating tools to support our businesses and sectors that may be targeted”.
Commerce Secretary Howard Lutnick made it clear that there will be no tariff postponement in the coming days.
“Tariffs are coming. Of course they are coming,” he said, adding that President Trump wants to reset global trade.
In Congress, where Mr Trump’s Republican Party has long supported free trade, many welcomed Mr Trump’s move but also had considerable concerns.
Several Republican senators have signed onto a bipartisan bill that would require the president to explain the new tariffs to Congress. Nebraska Republican Rep. Don Bacon said on April 6 that he would introduce the House bill, arguing that Congress should restore its authority over tariffs.
Billionaire Elon Musk has been relatively quiet about Mr Trump’s new tariffs, but he said at a weekend event in Italy that he wants the US and Europe to move to “zero tariffs”.
The remarks by the head of the Department of Government Efficiency (DOGE) were rebuked by White House Trade Adviser Peter Navarro.
“Elon, when he’s on his DOGE lane, it’s great. But we understand what’s going on here. We just need to understand that Elon sells cars. He’s simply protecting his own interests like any businessman would,” Navarro said.
President Trump said he disagreed with Musk on the European Union. “They want to make a trade, but there will be no trade unless they pay us a lot of money every year,” Trump said.
