‘Sometimes you have to take medicine’: Trump compares tariffs to medicines as markets continue to plunge | World News
US President Donald Trump on Sunday said that foreign countries will have to pay “a lot of money” in order to revoke the reciprocal tariffs imposed last week, and called the tariffs as “medicine” stating that jobs and investments are coming back to the US, and that “world would soon stop treating America badly”.
Speaking to the media aboard the Air Force One, Trump said he wasn’t concerned about the economic fall out due to the reciprocal tariffs as nearly $6 trillion in value has been wiped out from the US stock market since last week.
“I don’t want anything to go down. But sometimes you have to take medicine to fix something,” President Trump said. He said that countries are coming to the table to talk and have a trade deal, adding “We’re going to become a wealthy nation again, wealthy like never before,” BBC reported.
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Trump informed that he has spoken to heads of state from Europe and Asia on the weekend, and they hope to convince the US president to lower the reciprocal tariffs which are as high as 50% and would be implemented on Wednesday.
“They are coming to the table. They want to talk but there’s no talk unless they pay us a lot of money on a yearly basis,” Trump said.
The announcement of reciprocal tariffs Trump last week has jolted the economies and stock market across the world, with China announcing retaliatory measures amid fears of global trade war and recession.
Trump said he’s not ready to make a deal with China until Beijing resolves their trade surplus with Washington. Earlier, Trump’s advisers defended the tariff move and presented the US as a savvy repositioning in the global trade order.Story continues below this ad
Trump in a post on Truth Social earlier said that the recently imposed tariffs are working and that tariffs are “a beautiful thing to behold”.
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