Tariffs are very beautiful: Trump doubles down on his plan to fix global trade order

Amid the global market meltdown, US President Donald Trump remains unfazed by the adverse impact of the tariffs he announced on April 2nd last week. In a post on his social media platform Truth Social, the US President termed the tariffs as a ‘very beautiful thing.’ He also spoke about the ‘massive financial deficits’ with countries such as China and as well as the European Union.

Trump said that tariffs are the ‘only way’ to fix this problem. As per the President, the new levies are bringing ‘tens of billions of dollars’ into America. Taking a jibe at his predecessor Joe Biden, Trump said, “The Surplus with these Countries has grown during the “Presidency” of Sleepy Joe Biden. We are going to reverse it, and reverse it QUICKLY (sic).”

On his way to Joint Base Andrews, Trump also spoke to reporters aboard Air Force One about the impact of tariffs. Brushing aside the market turmoil, Trump said, "I don't want anything to go down." In same breath, he added that sometime, "medicine" is needed to fix things. The statement comes at a time when the over $6 trillion have been wiped out from the US share market since Trump announced sweeping reciprocal tariffs upending the global trade order.

While Trump remains defiant, many nations have announced counter tariffs. China and Canada have already announced retaliatory tariffs, while the European Union says that an extensive levy plan will kick in from mid-April. Meanwhile, US Treasury Secretary Scott Bessent has claimed that over 50 countries have reached out and began the negotiations. While talking to NBC News' 'Meet the Press,' Bessent said that Trump has "created maximum leverage."