US President Donald Trump has staunchly defended his administration’s sweeping tariffs on imports, which have triggered global market instability. Speaking aboard Air Force One on Sunday, he likened the economic pain caused by the tariffs to taking medicine to cure a larger issue. Trump expressed confidence that, despite the immediate financial disruption, the tariffs would bring back jobs and investments, ultimately making the US “wealthier than ever before.”
Despite concerns of a potential recession, Trump’s top advisors have emphasized that the tariffs, announced just days earlier, will proceed as planned. Treasury Secretary Scott Bessent downplayed recession fears, stating that the market’s volatility was part of an “adjustment process” and there was no reason to expect long-term economic downturns. Commerce Secretary Howard Lutnick echoed that sentiment, insisting the tariffs on imports would remain in place and that even steeper measures were imminent, including higher tariffs on about 60 countries deemed to be “the worst offenders.”
Trump’s remarks come amid a sharp drop in global stock markets. Asian markets, including Japan’s Nikkei 225 and Hong Kong’s Hang Seng, saw major losses early on Monday. US stocks also plummeted the previous week, with major indexes falling over 5%. Saudi Arabia’s stock market faced its largest loss since the pandemic.
The president remained undeterred by these economic shifts, brushing off concerns about the “pain threshold” of American consumers, calling a reporter’s question “stupid” and reiterating that sometimes short-term discomfort is necessary for long-term economic health.
As global markets react to the tariffs and concerns grow about their impact, Trump remains steadfast in his belief that the US is positioned to leverage its trade policies for a more prosperous future. His advisors continue to maintain that the tariffs are part of a broader strategy to force foreign countries, particularly China, to address unfair trade practices and non-tariff barriers.
In an unusual statement, Lutnick also defended tariffs on two remote Antarctic islands, saying they were necessary to close “loopholes” used by countries like China to bypass trade rules. The tariffs are part of Trump’s ongoing effort to reshape global trade and assert greater control over international economic dynamics.