The US president has called the taxes he imposed on most countries “appropriate,” brushing off concerns over declining stock markets
The countries that deem US tariffs on their goods to be too high can just stop doing business with America altogether, President Donald Trump has suggested. He further insisted that his latest trade policies have made the US “strong,” bringing “billions of dollars a day” into its coffers.
On Wednesday, the US president slapped stiffer “reciprocal” tariffs on nearly 90 nations, only to announce a 90-day pause and a “substantially lowered Reciprocal Tariff during this period, of 10%,” in a post on his Truth Social platform several hours later. The pause however does not apply to China, with which the US has engaged in a tit-for-tat exchange of ever-higher tariffs, with most of Beijing’s imports now subject to a 145% duty.
Speaking to reporters aboard Air Force One on Friday, Trump proclaimed that “ultimately, we pretty much can do what we want to do.”
“We can set the tariff, and they can choose not to deal with us, or they can choose to pay it,” he explained, asserting that “if they think it’s too high, they don’t have to do business with us.”
Trump insisted that the tariffs he has introduced are “appropriate,” arguing that “there could be a couple of exceptions for obvious reasons, but I would say 10 percent is a floor.”
Trump also brushed off concerns over stock market turmoil in response to his trade policies.
”The bond market’s going good. It had a little moment but I solved that problem very quickly. I’m very good at that stuff,” the president claimed.
When asked whether he feared that the sweeping tariffs could adversely affect the dollar’s global standing, Trump replied that it will “always” remain the “currency of choice.”
As for nations striving to wean themselves off of the US currency, “I would tell you that within about one phone call they would be back on the dollar,” the president asserted.
Speaking at a National Republican Congressional Committee (NRCC) dinner on Tuesday night, Trump said that dozens of countries “are calling us up, kissing my ass” to negotiate a way out of stiffer tariffs.
Trump’s recent moves sent shockwaves across US stock markets, which bled trillions of dollars in a matter of several days. However, his decision to backpedal tariffs on most countries to a “baseline” 10% saw markets rebound shortly thereafter.