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Trump Stands by Tariffs as Markets Reel: ‘Sometimes You Have to Take Medicine’
As Wall Street braces for deeper losses, President Donald Trump defended his sweeping new tariffs Sunday night, comparing the economic jolt to necessary treatment. “Sometimes you have to take medicine to fix something,” he told reporters.
The comments came amid a sharp downturn in U.S. stock futures, with Dow Jones Industrial Average futures plunging nearly 1,000 points, signaling another rough session ahead when markets open Monday.
Speaking aboard Air Force One while returning from his Mar-a-Lago estate in Florida, Trump acknowledged the market uncertainty but remained optimistic. “What’s going to happen with the market? I can’t tell you,” he said. “But I can tell you, our country has gotten a lot stronger, and eventually, it’ll be a country like no other.”
Since unveiling higher-than-expected tariffs on all imports last Wednesday, markets have taken a steep dive. The Dow has dropped 9.2%, the S&P 500 is down 10.5%, and the Nasdaq has fallen 11.4% — marking the worst slide since the early days of the COVID-19 pandemic.