The president of the United States compares tariffs with ‘medicine’ as panic investors extend a massive sale.
The president of the United States, Donald Trump, has eliminated the agitation of the market caused by its radical tariffs, comparing the measures with “medicine” as investors in panic continued a massive sale of world shares.
“I don’t want anything to fall, but sometimes you have to take medications to fix something,” Trump told journalists aboard Air Force One on Sunday.
“Other countries have treated us so badly because we had stupid leadership that allowed this to happen. They took our business, took our money, took our work.”
Investigating his so -called “reciprocal tariffs,” Trump said he would not go back unless other countries balance his trade with the United States.
The president of the United States said he had spoken with many foreign leaders during the weekend who were “dying to make an agreement.”
“I said: ‘We are not going to have a deficit with his country,” Trump said.
“We are not going to do that, because, for me, a deficit is a loss. We will have surpluses or, in the worst case, go to a balance point.”
Trump’s comments occurred when global actions continued to fall in the midst of fears of a global commercial war and an economic recession.
Taiwan, Taiex and Hang Kong, Hang Seng, fell approximately 10 percent on Monday, while Japan Nikkeii 225 divered almost 9 percent.
In Singapore, the Straits Times index fell more than 7 percent.
Kospi from South Korea fell more than 5 percent, while Australia ASX 200 fell around 6 percent.
The US shares were set for more pronounced losses when Wall Street reopened, after a two -day defeat last week that eliminated more than $ 6 billion in market value.
Futures linked to Benchmark S&P500 fell 2.70 percent on Sunday, while those linked to Nasdaq-100 heavy for technology fell 3.55 percent.
The United States began to impose a 10 percent reference rate on imports on Sunday, with more pronounced tariffs between 11 percent and 50 percent in force on Wednesday.
China, the main strategic rival of the United States and its third largest commercial partner, faces a 34 percent rate.
Beijing announced a series of countermeasures last week, including a 34 percent rate over all imports and restrictions in the United States in exports of some critical minerals.
In the midst of agitation, analysts have increased abruptly the chances of the United States from entering a recession in the next 12 months.
JPMorgan last week increased the probability of a recession from the United States to 60 percent, while S&P Global has put the probability between 30 and 35 percent.
Trump administration officials have minimized the risk of an economic recession despite market chaos.
“There should not be a recession … who knows how the market will react in one day, in a week,” Treasury Secretary Scott Besent to the NBC press said on Sunday.
“What we are seeing is to build the long -term economic foundations for prosperity that I believe that the previous administration had put us in the course towards financial calamity.”
