Trump Defends Tariffs Even As Markets Melt

I deny any intent to deliberately engineer a market selloff. Forget about markets for sometime. Sometimes you have to take medicine to fix something — Donald Trump, US President

Washington: As global stock markets plunged on Monday, US President Donald Trump defended his controversial tariff policies, dismissing concerns over the economic impact. The 3-day wipeout in global equity value is estimated to be $9.5 trillion. “I can’t predict market reactions. Forget about markets for some time. Sometimes you have to take medicine to fix something,” Trump said, referring to the market volatility.

With Asian markets opening to significant losses and US futures signaling further declines, Trump sought to downplay fears, suggesting that the market pain caused by his tariffs was a necessary medicine to fix longstanding trade imbalances.