Donald Trump On US Stock Market Crash: ‘Sometimes You Have To Take Medicine’, Calls Tariffs ‘Beautiful Thing'

United States President Donald Trump on Sunday addressed the massive decline in US Stock markets after the announcement of tariffs on more than 180 countries. While maintaining his unwillingness for any US stock market crash, Donald Trump emphasised that sometimes it is "important to take medicine to fix something".

"I don't want anything to go down, but sometimes you have to take medicine to fix something," CNBC quoted Donald Trump as saying to reporters aboard Air Force One Sunday night.

His comments came against the backdrop of the massive stock market crash triggered after he announced trade tariffs on April 2. In the last five trading sessions, the Dow Jones Industrial Average has declined nearly 7.4%, whereas the Nasdaq Composite has fallen by more than 8.5%. New York Stock Exchange Composite also showcased a similar decline in past five trading sessions.

'Willing To Deal With China, But...'

Hinting that he is open to negotiations with China on tariffs, Donald Trump said, "I'm willing to deal with China," he added, "but they have to solve their surplus."
He emphasised that the US trade deficit with China needs to be solved first. America has a nearly "trillion dollar trade deficit with China", which leads Americans to lose "hundreds of billions of dollars a year," claimed Trump on Sunday, adding that he is not going to make a deal "unless we solve that problem."

China has emerged as the worst hit nation from Donald Trump's tariff announcement. On April 2, Trump slapped China with 34% of additional tariffs, taking the percentage of total tariffs on China to more than 50%. Within a day after Trump's tariff announcement, China retaliated by imposing an additional tariff of 34% on all US imports. While America's tariffs have exempted certain fields and segment of imports, China this time has imposed a blanket tariff. Additionally, it has even notified to restrict the business of certain American firms.

'US Tariffs Are Very Beautiful'

Donald Trump, early Monday, shared a social media post praising US tariffs. He called it the only cure to massive financial deficits with China the European Union, and many others.
In his post on the platform 'Truth Social', Donald Trump also eliminated any possibility of reversal of US tariffs and said, "They are already in effect, and a beautiful thing to behold."

"The only way this problem can be cured is with TARIFFS, which are now bringing Tens of Billions of Dollars into the U.S.A. They are already in effect, and a beautiful thing to behold. The Surplus with these Countries has grown during the "Presidency" of Sleepy Joe Biden. We are going to reverse it, and reverse it QUICKLY. Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!" read the post by Donald Trump on Monday.

Donald Trump announced a base tariff of 10% on more than 180 countries on April 2, which he proclaimed as 'Liberation Day'. Above the base tariff, he had imposed additional reciprocal tariffs on countries based on their trade deficit with America, which means that the US is buying more goods and services from these countries than selling to them. The US imposed a 26% tariff on imports from India.