President Trump stood by his wide-scale tariffs, calling them a “beautiful thing to behold” that will eventually be largely supported even as the stock futures dropped Sunday evening.
“They are already in effect, and a beautiful thing to behold. The Surplus with these Countries has grown during the ‘Presidency’ of Sleepy Joe Biden,” Trump blasted out on Truth Social Sunday night.
“We are going to reverse it, and reverse it QUICKLY. Some day people will realize that Tariffs, for the United States of America, are a very beautiful thing!”
The president also said other countries are “dying to make a deal” with the US while speaking to reporters on Air Force One.
Despite the Republican’s optimism, the market continued to crater.
Stock futures dropped Sunday evening with the Dow Jones Industrial Average and S&P 500 each plummeting about 4% while the Nasdaq fell almost 5%.
Trump, 78, in his Truth Social post, also argued the US has “massive” financial deficits with China, the European Union and other countries in a effort to justify the action he took against 90 nations last week.
“The only way this problem can be cured is with TARIFFS, which are now bringing Tens of Billions of Dollars into the U.S.A.,” he wrote.
This is a breaking story. Please check back for updates.
With Post wires
