WASHINGTON (AP) — President Donald Trump remains committed to his tariff policies.
He said other countries had been “taking advantage of the Good OL’ USA!” in a post on Truth Social, his social media platform.
“Our past ‘leaders’ are to blame for allowing this, and so much else, to happen to our Country,” Trump wrote. “MAKE AMERICA GREAT AGAIN!”
Trump has insisted his tariffs are necessary to rebalance global trade and rebuild domestic manufacturing. He has singled out China as “the biggest abuser of them all” and criticized Beijing for increasing its own tariffs in retaliation.
The Republican president also called on the Federal Reserve to lower interest rates. On Friday, Federal Reserve Chair Jerome Powell warned that the tariffs could increase inflation, and he said “there’s a lot of waiting and seeing going on, including by us,” before any decisions would be made.
Over the weekend, Trump said that he wouldn’t back down from his tariffs despite the turmoil in the global markets.
“Sometimes you have to take medicine to fix something,” Trump said.
Standing firm against unfair trade practices, Trump insists there will be no trade agreement with China unless the massive trade deficit is resolved. He says for too long, China has exploited the U.S. through lopsided trade deals that have left American workers and industries at a disadvantage, but he is putting American interests first.
While speaking on Air Force One, the President told reporters that he is not willing to make a deal with China unless the trade deficit of over $1 trillion is resolved first. He stressed that the tariffs have played a pivotal role in securing over $7 trillion in committed investments, which is driving the creation of automotive manufacturing plants, semiconductor companies, and a wide range of other industries. He maintains the surge in investment will be accompanied by an unprecedented level of economic growth and industrial development in America.
Trump also said he has spoken with several leaders from other countries who want to make a deal with the U.S. But don’t expect the president to accept a bad deal; he is adamant that he was unwilling to accept deficits, saying that a “deficit is a loss.”
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