Today's Edition
ABOARD AIR FORCE ONE (REUTERS)
US President Donald Trump on Sunday said foreign governments would have to pay "a lot of money" to lift sweeping tariffs that he characterised as "medicine," as financial markets indicated another week of steep losses could be in store.
Speaking to reporters aboard Air Force One, Trump indicated he was not concerned about market losses that has already wiped out nearly $6 trillion in value from US stocks.
"I don't want anything to go down. But sometimes you have to take medicine to fix something," he said.
Trump said he had spoken to leaders from Europe and Asia over the weekend, who hope to convince him to lower tariffs as high as 50 percent due to take effect this week.
"They are coming to the table. They want to talk but there’s no talk unless they pay us a lot of money on a yearly basis," Trump said.
Trump's tariff announcement last week jolted economies around the world, triggering retaliatory levies from China and sparking fears of a global trade war and recession.
