President Donald Trump indicated on Sunday night that the sweeping reciprocal tariffs he levied just last week are staying in effect, as the markets continue to plunge.
In comments to reporters aboard Air Force One, Trump pointed to U.S. trade deficits with other countries in his defense of the tariffs, singling out China, which was hit with a 34% tariff by the United States last week.
“When you look at the trade deficit we have with certain countries, with China it’s $1 trillion,” the president said. “And we have to solve our trade deficit with China. … Hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I’m not going to make a deal.”
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“This is not sustainable,” Trump added.
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