Trump Defends Tariffs, Vows Stronger U.S. Trade Deals

U.S. President Donald Trump reinforced his trade strategy on Tuesday, touting the benefits of tariffs and emphasizing America’s position in global trade. In his remarks, Trump declared that tariffs on automobiles, steel, and aluminum have significantly reduced the U.S. trade deficit and generated substantial revenue, particularly from countries like China.

Trump insisted that the U.S. is “doing fine with China,” contrasting his administration's results with what he described as massive trade losses under previous leadership—claiming the U.S. lost “$5 billion a day” before his policies took effect. He credited the 25% tariff on imported autos, along with similar levies on steel and aluminum, as key tools in bringing the trade deficit down to “a very low number.”

Addressing recent tensions with the Federal Reserve, Trump clarified that he has no intention of removing Fed Chair Jerome Powell, despite earlier criticisms for not cutting interest rates swiftly enough.

Trump also criticized past trade agreements, asserting that the U.S. was taken advantage of by global partners due to weak leadership. He reaffirmed his commitment to “Make America Great Again” by renegotiating trade deals that ensure fair terms for American businesses and workers.

On the stock market, Trump acknowledged current volatility but described it as part of a necessary “transition period.” He stated that America holds valuable leverage and is using it to secure better deals.

Concluding his remarks, Trump warned that countries unwilling to engage on new terms will face tougher U.S. positions, asserting, “We’ll set the deal.” He expressed confidence in swift negotiations, noting that discussions are already underway with several nations.

This message aligns with Trump’s ongoing trade-first agenda and signals further assertive U.S. positioning on the global stage.