US President Donald Trump defended his recent tariff measures, describing them as a form of “medicine” necessary to remedy the nation's trade deficits with several key partners.
While aboard Air Force One en route from Florida to Washington, DC, Trump acknowledged that although market declines are undesirable, sometimes corrective actions—much like taking medicine—are required to fix underlying issues.
“I don’t want anything to go down, but sometimes you have to take medicine to fix something,” Trump remarked, emphasizing that his tariff policy was not intended to deliberately trigger a market sell-off. Instead, he argued that the tariffs are a strategic tool to strengthen the American economy. “What's going to happen with the market? I can't tell you. But I can tell you our country has gotten a lot stronger, and eventually it'll be a country like no other. It'll be the most dominant country economically in the world,” he stated.
Trump further criticized previous leadership for allowing the trade imbalances to worsen, claiming that past administrations had mishandled foreign trade relations. “We have been treated so badly by other countries because we had a stupid leadership that allowed this to happen. They took our businesses, they took our money, they took our jobs, they moved it to Mexico, they moved it to Canada, they moved a lot of it to China, and it's not sustainable,” he said, contrasting his approach with that of former President Joe Biden's administration.
He stressed his commitment to resolving trade deficits with major economic powers, including China and the European Union. During discussions with global leaders over the weekend, Trump made it clear that his tariff strategy was aimed at eliminating deficits, which he equated to economic losses.
In a post on his Truth Social platform, Trump reiterated his stance: “We have massive financial deficits with China, the European Union, and many others. The only way this problem can be cured is with tariffs, which are now bringing tens of billions of dollars into the USA. They are already in effect, and a beautiful thing to behold.” He added that the current surplus with these countries had grown under what he derisively referred to as the ‘Presidency’ of “sleepy Joe Biden,” promising swift reversals to these trends.
Trump’s remarks underline his administration’s determination to use tariffs as a lever to rebalance trade and assert American economic strength amid ongoing market volatility.
President Donald Trump said on Tuesday he believes Russian President Vladimir Putin wants to end the war in Ukraine, even as missile strikes continue across the country.
President Donald Trump stepped back—slightly. On Tuesday, he signed a new order softening his auto tariffs just days before fresh 25% duties were set to hit imported car parts.
The EU's top court has ruled Malta's controversial golden passport scheme, which allowed foreigners to purchase citizenship for €690,000, unlawful, citing concerns over security and the commercialization of EU nationality.
President Donald Trump is pressuring Apple to move iPhone manufacturing from China to the United States. But supply chain experts say the plan faces massive barriers built over decades.
U.S. President Donald Trump wants a lasting ceasefire to end the conflict between Russia and Ukraine, White House press secretary Karoline Leavitt said on Monday.
South Africa’s 2024/25 maize harvest is now forecast at 14.66 million tonnes, up 14 % from last season and slightly above March’s estimate, the Crop Estimates Committee said in its latest outlook.
An explosion rocked a residential area in Taiyuan, Shanxi province, northern China, killing at least one person and injuring 21 others, according to state media.
U.S. Treasury primary dealers want Congress to scrap the federal debt ceiling, warning in new TBAC minutes that the limit lifts borrowing costs, fuels market turmoil and could weaken the dollar’s reserve-currency standing.
Russia and North Korea on Wednesday launched construction of a road bridge between the two countries that will span the Tumannaya river, marking strategic partnership between the two countries, Russia's prime minister said.
Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
For three generations, the Liebigs built railcars in Görlitz. Now, the factory that shaped their lives will produce parts for battle tanks.
North Korea has launched a new 5,000-tonne destroyer as part of Kim Jong Un’s plans to expand the country’s naval power far beyond its coastal waters.
South Africa’s 2024/25 maize harvest is now forecast at 14.66 million tonnes, up 14 % from last season and slightly above March’s estimate, the Crop Estimates Committee said in its latest outlook.
An explosion rocked a residential area in Taiyuan, Shanxi province, northern China, killing at least one person and injuring 21 others, according to state media.
U.S. Treasury primary dealers want Congress to scrap the federal debt ceiling, warning in new TBAC minutes that the limit lifts borrowing costs, fuels market turmoil and could weaken the dollar’s reserve-currency standing.
Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
U.S. President Donald Trump is closing in on a minerals deal with Ukraine, part of his plan to end the war.
South Africa’s 2024/25 maize harvest is now forecast at 14.66 million tonnes, up 14 % from last season and slightly above March’s estimate, the Crop Estimates Committee said in its latest outlook.
An explosion rocked a residential area in Taiyuan, Shanxi province, northern China, killing at least one person and injuring 21 others, according to state media.
U.S. Treasury primary dealers want Congress to scrap the federal debt ceiling, warning in new TBAC minutes that the limit lifts borrowing costs, fuels market turmoil and could weaken the dollar’s reserve-currency standing.
Russia and North Korea on Wednesday launched construction of a road bridge between the two countries that will span the Tumannaya river, marking strategic partnership between the two countries, Russia's prime minister said.
Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
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