Trump Holds Firm on Tariffs Amid Global Market Turmoil, Signals No Retreat

Last Updated Apr - 07 - 2025, 04:23 PM | Source : Fela News

President Trump reaffirms sweeping tariffs starting April 9, 2025, despite global market sell-offs. Over 50 nations seek talks as economic uncertainty deepens.

On April 6, 2025, President Donald Trump reaffirmed his commitment to sweeping tariffs on imports from most countries, stating he won’t ease up unless trade balances with the U.S. are corrected. Speaking aboard Air Force One, Trump acknowledged the global market turmoil but said, “Sometimes you have to take medicine to fix something.” Despite efforts from his aides to calm investors, markets are bracing for further declines as trading resumes.

Set to take effect April 9, the tariffs mark a major shift in global trade, affecting allies and rivals alike—including Israel, facing a 17% tariff. Trump claimed over 50 nations have contacted the U.S. seeking negotiations. Countries like Vietnam and Italy expressed willingness to engage, though concerns remain.

Meanwhile, U.S. futures dropped sharply, with the Dow down nearly 4% and Nasdaq nearly 5%. Bitcoin also dipped 6%. Commerce Secretary Howard Lutnick confirmed the tariffs will proceed. In Congress, bipartisan concern is growing, with lawmakers proposing bills to rein in presidential power on trade. While Trump defends his approach as necessary to restore fair trade, uncertainty looms over the global economy.