‘Not going to lose a trillion dollars for the privilege of buying pencils from China’, Trump takes a dig, justifies tariffs

WASHINGTON , DC: US President Donald Trump made sharp remarks towards China as the US has implemented retaliatory tariffs with a goal of bridging the trade deficits with several countries. This has also impacted the stock markets.

Making the remarks on board US Air Force One, Trump said, “We have a tremendous deficit problem with China”.

He noted that because of the tariffs implemented by the US, “China is right now taking a big hit, because everyone knows we’re (the US) right… we’re talking about a trillion dollars. You know that, right? We’re not going to lose a trillion dollars for the privilege of buying pencils from China”.

Speaking about how the tariffs would affect the stock market, Trump added, “With the tariffs that I’ve already instituted, what’s going to happen with the market… I can tell you, our country has gotten a lot stronger, and eventually. It’ll be a country like no other. It’ll be the most dominant country economically in the world”.

On being asked about the bloodbath in the stock market, Trump added, “I don’t want anything to go down, but sometimes you have to take medicine to fix something.”

He criticised former US President Joe Biden and accused him saying, “We have been treated so badly by other countries because we had stupid leadership that allowed this to happen. They took our businesses, they took our money, they took our jobs, they moved it to Mexico, to Canada, they moved a lot of it to China, and it’s not sustainable. We’re not going to do it now. We have hundreds of millions of dollars is pouring into our country on a monthly basis. It’s pouring it’s already started, because they put tariffs on and eventually it’s going to straighten out, and our country will be solid and strong again”, Trump said in his remarks.

Asian stock markets witnessed a major sell-off on Monday after US President Donald Trump announced a new round of tariffs. The markets opened with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth. (ANI)