Trump Defends Tariffs Amid Asian Market Slump

President Trump recently addressed market volatility, suggesting that sometimes 'medicine' is necessary to rectify economic issues, while asserting he is not intentionally causing a market selloff. This statement came as US stock market futures dropped significantly after the introduction of a blanket 10% tariff on imports that began collecting duties over the weekend. Trump defended his tariff policy, describing it as a 'beautiful thing' and emphasizing that trade partners are willing to negotiate. Meanwhile, various countries, including Canada and China, have begun announcing countermeasures in response to the US tariffs, raising concerns about escalating trade tensions. Despite the turmoil, Treasury Secretary Bessent indicated that he does not foresee a recession stemming from these tariffs. The broader implications of these tariffs and responses from international trade partners continue to develop, contributing to uncertainty in the markets.