Trump Defends Tariff Strategy Amid Global Market Turmoil: “Sometimes You Have to Take Medicine”

Washington, D.C. April 7, 2025— As global financial markets reel from a sharp sell-off triggered by sweeping U.S. tariffs, President Donald Trump stood firm on his trade strategy, signaling no intent to reverse course despite mounting economic concerns.

Speaking to reporters aboard Air Force One on Sunday, Trump defended the controversial tariffs he introduced last week, which included a 34% duty on Chinese goods, 26% on Indian imports, and 20% on products from the European Union. The policy has contributed to an estimated $6 trillion loss in American stock market value in just a matter of days, according to market analysts.

“I don’t want anything to go down, but sometimes you have to take medicine to fix something,” Trump remarked, suggesting that short-term pain may be necessary for long-term economic correction. “We have been treated so badly by other countries,” he added, blaming previous administrations for what he described as decades of unfair trade practices.

The President’s comments come amid growing fears of another market crash akin to Black Monday in 1987. Financial markets across Asia and Europe recorded steep declines on Monday. The Hang Seng China Index dropped more than 9%, while Taiwan’s TSMC tumbled 10%. In Southeast Asia, Singapore's market fell over 7%, Malaysia 4%, and Australia slid 6.4%. Germany’s futures also showed a 5% downturn, and oil prices hit their lowest point since 2021.

Trump continued his criticism of former President Joe Biden, accusing the prior administration of allowing American businesses and jobs to be outsourced. “They took our businesses, our money, and our jobs. Moved it to Mexico, Canada, to China! It’s not sustainable,” Trump declared. “We are not gonna do it.”

While market analysts and global leaders express alarm over the deepening economic fallout, Trump struck a defiant tone, suggesting world leaders were eager to resolve trade disputes — but only on his terms. “They are dying to make a deal,” he said, referring to conversations he had with global counterparts over the weekend. “But I’m not talking about tariffs until we fix the deficit.”

Later in the day, Trump reiterated his stance on his social media platform, Truth Social. “We have massive Financial Deficits with China, the European Union, and many others,” he wrote. “The only way this problem can be cured is with TARIFFS… Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!”

Financial commentator and television host Jim Cramer warned that Monday, April 7, could be a “bloodbath” for markets, drawing comparisons to the historic crash of 1987. “Investors are rattled. Confidence is shaken,” Cramer said in a broadcast Sunday evening.

As markets brace for what could be a historic downturn, all eyes remain on Washington — and on whether Trump’s economic medicine will cure or further inflame the global financial fever.