US President Donald Trump said on Sunday that foreign governments should pay “a lot of money” to raise radical rates which he described as “medication” because the financial markets indicated another week of steep losses could be in store.
Addressing journalists on the Air Force One, Trump said that he was not concerned about market losses that have already erased nearly 6 billions of dollars of American actions.
“I don’t want nothing to drop. But sometimes you have to take medication to repair something,” he said.
Trump said that during the weekend, he spoke to leaders from Europe and Asia, who hoped to convince him to reduce prices up to 50% due to taking effect this week.
“They come to the table. They want to speak, but there is no discussion unless they pay us a lot of money every year,” he said.
Trump’s pricing announcement last week made a bypass of savings around the world, triggering reprisals from China and arousing fears of a trade war and a global recession.
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In talk shows Sunday morning, the president’s main economic advisers sought to portray prices as a wise repositioning of the United States in the world’s business.
They also tried to minimize the economic shocks of the tumultuous deployment last week. On Sunday, the term contracts on Wall Street’s actions were openly lower, in a sign of additional turbulence.
US Treasury Secretary Scott Bessent said more than 50 nations had started negotiations with the United States since last Wednesday.
“He created a maximum lever effect for him,” said Bessent on NBC Meet the press.
Neither besides the other officials named countries nor offered details on the talks. But negotiating simultaneously with several governments could make a logistical challenge for the Trump administration and extend economic uncertainty.
Bessent said there was “no reason” to anticipate a recession, citing the growth of American jobs stronger than expected last month, before the prices were announced.
JPMorgan economists now estimate that prices will lead to a drop in American gross domestic product by 0.3%, against an earlier estimate of 1.3% growth, and that the unemployment rate will increase to 5.3% compared to 4.2% current.
The republican president spent the weekend in Florida, playing golf and publishing a video of his swing on social networks on Sunday.
Some countries are looking for a stay
US customs agents began collecting unilateral prices of 10% of Trump on all imports from many countries on Saturday. Higher “reciprocal” rate rates of 11 to 50% on individual countries should take effect on Wednesday at 12:01 pm. Some governments have already reported a desire to engage with the United States to avoid tasks.
The Taiwanese president, Lai Ching-Te, has only offered zero prices as a basis for interviews with the United States, committing to withdraw trade barriers and to say that Taiwanese companies will increase their American investments.
Israeli Prime Minister Benjamin Netanyahu said he would ask for a reproduction from a 17% tariff on the country’s goods at a meeting scheduled with Trump on Monday.
An Indian government official told Reuters that the country did not plan to retaliate against a tariff of 26% and said that talks were underway with the United States for a possible agreement.
Markets seem likely to tank
The tariff markets have faced another week of potential disorders after the worst week for American actions since the start of the COVVI-19 crisis five years ago.
The S&P composite 1500 index, among the widest measures on the American market, has been wiped out nearly 10 billions of US dollars since mid-February, a significant blow for millions of American retirement nesting eggs.
US President Donald Trump shows no signs of drop in his prices, even after the Dow Jones lost 2,200 points – his worst closure since 2020 – while the world markets have also landed for a second day, which has raised fears of a prolonged global recession.
The economic adviser of the White House, Kevin Hassett, denied that the prices were part of a Trump strategy to crush the financial markets in order to put pressure on the American federal reserve to reduce interest rates. He said there would be no “political coercion” of the central bank.
Friday, in a social article of truth, Trump shared a video that suggested that his prices aimed to hammer the express stock market in order to force interest rates.
The social media post fueled the world debate on the question of whether Trump’s prices were part of a new permanent tariff regime or simply a negotiation tactic that could lead to the attenuation of prices by other countries.
