'Sometimes medicine is needed to fix something': Trump on tariffs backlash

Announced on April 2, the tariffs take effect April 9, targetting imports from numerous countries, including several of the US's long-standing allies

US President Donald Trump has reaffirmed his commitment to imposing new tariffs on imports unless other nations take steps to make trade more equitable. The announcement has shaken global financial markets and raised concerns about a potential economic downturn.

 

Speaking aboard Air Force One, Trump compared the tariffs to "medicine" — an unpleasant but necessary remedy. He emphasised that he does not want to see markets decline. "I don't want anything to go down, but sometimes you have to take medicine to fix something," he said.

 

Trump's remarks came amid growing anxiety in global markets, which were bracing for another dip. Following his announcement on reciprocal tariffs, more than 50 countries have initiated discussions aimed at avoiding the levies. “I spoke to a lot of leaders — European, Asian, from all over,” Trump said. “They’re eager to make deals. I told them the US won’t accept trade deficits anymore. Either we break even, or we make a profit.”

 

 

The tariffs, announced on April 2, are scheduled to take effect on April 9. They target imports from a wide range of countries, including several long-standing US allies. The measure aligns with Trump’s long-held belief that previous trade agreements have disadvantaged American businesses and workers.

 

Trump calls for resolve amid market jitters

 

While spending the weekend in Florida, where he played golf, Trump took to social media to rally support: “WE WILL WIN. HANG TOUGH, it won’t be easy (sic).” His economic advisers defended the decision on Sunday, arguing that the policy is crucial for restoring the country’s economic strength.

 

“There doesn’t have to be a recession,” said Treasury Secretary Scott Bessent. “But these trade problems can’t be solved in just a few days or weeks.”

 

Markets react negatively

 

Market indicators showed a sharp decline on Sunday evening. Futures for the Dow Jones and S&P 500 both fell by nearly 4 per cent, while Nasdaq futures dropped close to 5 per cent. Even bitcoin, which had been relatively stable, declined by around 6 per cent.

 

(With agency inputs)