Trump says he won't back down on tariffs: Comprehensive tariffs raise concerns about the economy

US President Donald Trump stated on Sunday that he will not abandon plans to impose comprehensive tariffs on imported goods from most countries in the world unless countries achieve trade balance with the United States, and will persist in implementing these tariffs. Trump told reporters on Air Force One that he doesn't want the global market to fall, but he's also not worried about large-scale selling, adding, "Sometimes you have to take medicine to fix something." He made these remarks at a time when global financial markets seemed expected to continue falling sharply after Monday's resumption of trading, and Trump aides said that more than 50 countries have started negotiations to lift tariffs in an attempt to ease market concerns.

In Congress, Trump's Republican Party has long advocated for free trade, and the tariff group has won applause but also brought great unease. Higher tariff rates will be imposed starting from Wednesday, ushering in a new era of economic uncertainty with no clear end in sight. Treasury Secretary Scott Besant stated that unfair trade practices are not the kind of thing that can be negotiated and resolved in a matter of days or weeks. He said that the United States must see what these countries offer and whether it is credible.

I have talked to many leaders, from Europe, Asia, and around the world, "Trump said. They are very eager to reach an agreement. I said we won't have a deficit with your country. We won't do that because for me, a deficit is a loss. We will have a surplus, or in the worst case, we will reach a balance of payments. "Trump played golf in Florida over the weekend and posted online," We will win. Hold on, it's not easy. "His cabinet members and economic advisers stepped forward on Sunday to defend tariffs and downplay their impact on the global economy.

Due to the continued disruption of the market caused by tariffs, US stock futures fell again on Sunday evening. The Dow Jones Industrial Average and S&P 500 futures fell nearly 4%, while Nasdaq futures fell nearly 5%. Even though the Bitcoin price remained relatively stable last week, it fell nearly 6% on Sunday. To make matters worse, the new tariffs are hitting America's allies and adversaries, including Israel, which faces a 17% tariff. Israeli Prime Minister Benjamin Netanyahu will visit the White House on Monday and deliver a speech at a press conference with Trump. His office stated that tariffs will be the focus of discussions with Trump, as well as the Gaza war and other issues. Another ally of the United States, Vietnam, is a major clothing manufacturing center. Trump said that the Vietnamese leader stated over the phone that his country "hopes to reduce tariffs to zero if we can reach an agreement with the United States. Meanwhile, an important partner of the United States in Europe, Italian Prime Minister Giorgio Meloni, also stated that she does not agree with Trump's actions, but is "prepared to deploy all necessary tools - negotiations and economics - to support businesses and industries that may face punishment.

White House Chief Economic Advisor Kevin Hassett admitted that other countries are "feeling angry and retaliating," citing a report from the Office of the United States Trade Representative that more than 50 countries have contacted the White House to begin negotiations.

Trump's tariff policy this time has fulfilled a key promise he made during the campaign, as he re established global trade rules without congressional approval. For Trump, this is a move that has been brewing for decades, as he has long condemned foreign trade agreements as unfair to the United States. He is betting that voters are willing to tolerate the rise in prices of everyday goods in order to achieve his economic vision. However, these tariffs have caused financial market turbulence, raised concerns about economic recession, and disrupted the global trading system.