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.
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U.S. and Pakistani leaders forecast a Sunday signing of a long-elusive framework agreement to end fighting between the United States and Iran, as Reuters, quoting an unnamed Iranian official, has provided an outline of the possible deal.
A senior Iranian official told Reuters that a draft memorandum with the U.S. covers issues including Iran’s nuclear programme, reopening the Strait of Hormuz, and U.S. waivers on oil sanctions, with further negotiations expected within 60 days of an initial agreement.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 13 June, covering the latest developments you need to know.
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Armenia has every right to choose Europe. But Europe’s support for Armenia’s direction should not become automatic approval of its political process.
U.S. President Donald Trump has said a peace agreement with Iran is scheduled to be signed on Sunday in a post on social media, despite Tehran's Foreign Ministry spokesperson Esmaeil Baghaei saying no deal would be approved this weekend.
Japan’s birth rate and fertility levels have fallen to their lowest levels on record, highlighting the country’s worsening demographic crisis as fewer people marry and have children.
The New York Knicks defeated the San Antonio Spurs 94-90 to close out the series 4-1 and claim their first NBA championship since 1973, sparking celebrations across New York City.
In the runup to the G7 summit, hosted by France in Évian-les-Bains on Monday, 15 June, China has addressed global economic balances in a videoconference hosted by French President Emmanuel Macron. It is a rarity for Beijing to engage directly with the group.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
Romania's centrist President Nicușor Dan on Sunday designated Adrian Veștea, a member of the liberal party, as prime minister, after independent candidate Eugen Tomac withdrew.
North Korea said on Sunday, 14 June, that denuclearisation is a matter that is irreversibly terminated, in a condemnation of recent nuclear deterrence talks between the U.S. and South Korea.
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