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.
U.S. President Donald Trump said the U.S. was talking to the right people in Iran to make a deal on Tuesday (24 March), as Pakistan's Prime Min...
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Voting has ended in Denmark’s parliamentary election, with Prime Minister Mette Frederiksen seeking a third term after a campaign shaped by t...
Türkiye is pursuing a cautious approach to the escalating Middle East conflict while maintaining regional ties, President Recep Tayyip Erdoğa...
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Voting has ended in Denmark’s parliamentary election, with Prime Minister Mette Frederiksen seeking a third term after a campaign shaped by tensions with the U.S. over Greenland and mounting domestic concerns.
Türkiye is pursuing a cautious approach to the escalating Middle East conflict while maintaining regional ties, President Recep Tayyip Erdoğan said on Tuesday, warning against actions that could deepen instability.
Traders placed more than $500 million in oil bets minutes before Donald Trump announced a delay to planned strikes on Iran, data shows, shortly before prices plunged.
Hezbollah has pledged to defend the region against Israeli forces, warning it will resist any move to occupy southern Lebanon, as Israel sets out plans to establish a buffer zone following its latest invasion.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
U.S. President Donald Trump said the U.S. was talking to the right people in Iran to make a deal on Tuesday (24 March), as Pakistan's Prime Minister offered to host peace talks between the two countries to bring about an end to the conflict.
Trump says U.S. found “major points of agreement” with Iran and has paused strikes on Iranian power plants, but Tehran denies any direct talks or negotiations, contradicting U.S. claims - latest on Middle East conflict.
Violent clashes broke out between police and opposition protesters in Tirana on Sunday (22 March) as demonstrators were demanding the resignation of the Albanian government following corruption allegations against the deputy prime minister.
Afghan authorities say Pakistani jets entered northern Afghanistan, while Pakistan insists its actions target terrorism, highlighting continued strain after a temporary Eid ceasefire ended.
Voting has ended in Denmark’s parliamentary election, with Prime Minister Mette Frederiksen seeking a third term after a campaign shaped by tensions with the U.S. over Greenland and mounting domestic concerns.
Eurozone private sector growth almost stalled this month, a key survey showed on Tuesday, adding to evidence that the bloc is already feeling economic fallout from the U.S. and Israeli war with Iran, with inflation rising and growth slowing.
China is raising domestic petrol and diesel prices under temporary measures to manage a sharp surge in global oil costs, aiming to support fuel suppliers while maintaining market stability during a period of heightened volatility.
Russia launched drones and missiles overnight on Tuesday at Ukraine, killing at least three people, damaging houses and triggering fires, Ukrainian officials said.
British Prime Minister Sir Keir Starmer said on Monday (23 March) that Britain must plan for the possibility that the Iran war could continue for some time, and added that he had no "meaningful concerns" about energy supply.
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