Trump Defends Tariffs as 'Medicine' Amid Global Market Turmoil

Trump’s Broad Tariffs Threaten to Drive Up Prices on Tech, Toys, Apparel, and More

Trump Defends Tariffs as 'Medicine' Amid Global Market Turmoil

DECK
White House doubles down on controversial tariffs despite economic fallout; Trump insists trade imbalance justifies tough stance as allies push back.

KEY FACTS

• What: President Trump stands firm on sweeping new tariffs.

• Where: U.S. policy impacting global markets, including Asia and Europe.

• When: Comments made Sunday; higher tariff rates begin Wednesday.

• Why: Administration aims to reduce trade deficits and pressure foreign governments.

• How: U.S. acting unilaterally, without congressional approval.

• Market Impact: U.S. stock futures plunged; Asian markets suffered steep losses.

SITUATION SNAPSHOT
From Air Force One to social media, President Trump sent a clear message: his administration is not backing down from imposing stiff tariffs, even as stock markets nosedive and foreign partners express outrage. Meanwhile, global investors brace for more volatility when markets reopen.

WHAT WE KNOW
President Trump reiterated Sunday that he would not ease off tariffs unless other nations balanced their trade with the U.S., calling the economic jolt “necessary.” Speaking from Air Force One, he told reporters, “Sometimes you have to take medicine to fix something.”
Despite the economic tremors, Trump said he wasn’t concerned about the downturn and suggested it was part of a broader strategy to reset international trade.

White House officials revealed that over 50 countries had contacted the administration to explore negotiations. Yet Trump made clear his bottom line: “We’re not going to have deficits with your country… we’re going to have surpluses or at worst, going to be breaking even.”

New tariff rates are set to go into effect Wednesday, covering imports from both adversaries and allies—including Israel and Vietnam. Financial leaders within the administration, such as Treasury Secretary Scott Bessent, defended the move, stating unfair practices cannot be resolved “in days or weeks” and emphasizing a long-term vision.

WHAT’S NEXT
The coming days are expected to bring fresh negotiations with affected nations, especially as Israeli Prime Minister Netanyahu and other leaders prepare to meet with Trump. The administration will begin gauging the seriousness of trade offers. Congress, meanwhile, is preparing to challenge the president’s authority by proposing legislation to limit executive power on trade decisions.

VOICES ON THE GROUND
“WE WILL WIN. HANG TOUGH, it won’t be easy,” Trump wrote online, signaling resolve.
Commerce Secretary Howard Lutnick emphasized, “The tariffs are coming. Of course they are.”
Vietnam’s leader reportedly told Trump that his country “wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.”
Italian Premier Giorgia Meloni disagreed with the move but said she is “ready to deploy all the tools — negotiating and economic — necessary to support our businesses and our sectors that may be penalized.”
Sen. John Barrasso acknowledged, “There is concern, and there’s concern across the country. People are watching the markets.”

CONTEXT 
Trump’s tariff initiative, announced on April 2, fulfills a campaign promise to revamp global trade in favor of American manufacturing. For decades, Trump has argued that existing agreements disadvantage the U.S., and the current move represents his most aggressive push yet to confront what he sees as a broken system.

The global reaction has been swift. Markets around the world tanked: Tokyo’s Nikkei 225 dropped nearly 8% before recovering slightly; Hong Kong’s Hang Seng plunged 9.4%. U.S. futures also dipped sharply: S&P 500 down 2.5%, Dow off by 2.1%, and Nasdaq sliding 3.1%. Even bitcoin, previously stable, fell by 6%.

Inside the administration, debate is surfacing. Elon Musk, now heading Trump’s Department of Government Efficiency, expressed a desire for “a zero-tariff situation” between the U.S. and Europe. Trade adviser Peter Navarro fired back: “Elon sells cars… He’s simply protecting his own interest as any business person would do.”

REPORTER INSIGHT
As the economic dust settles and trading resumes, the real test of Trump’s tariff doctrine will be its durability under market pressure. From the trading floors of Hong Kong to Capitol Hill’s hearing rooms, the shockwaves are being felt—and the White House appears fully prepared to ride the storm.