Needed medicine: Trump commented on the market decline amid tariffs.
U.S. President Donald Trump commented on the market decline following the introduction of new tariffs.
He made this statement during a conversation with journalists aboard Air Force One.
'I don’t want anything to fall. But sometimes you have to take medicine to fix something,'
said Trump.
Despite significant losses in the markets, totaling up to a trillion dollars, the president is not canceling the new tariffs. He claims that foreign governments should pay 'a lot of money' to get rid of them.
Trump is also not worried about the losses in the value of U.S. stocks, which already amount to over 6 trillion dollars.
Financial markets predict another week of significant losses.
It is noted that the announcement of tariffs imposed by Trump last week has caused turmoil in economies worldwide. This has sparked fears of a trade war and recession. Additionally, China responded by changing tariffs.
The president also reported that he spoke with leaders of European and Asian countries who hope to reduce tariffs by 50%. However, Trump stated that negotiations will not take place if they do not agree to pay a lot of money to the U.S. every year.
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