In the face of sharp market downturns and mounting recession concerns, US President Donald Trump has stood firm on his sweeping tariffs policy, declaring it a necessary “medicine” to restore American economic strength.

While speaking to reporters aboard Air Force One on Sunday night, Trump dismissed fears triggered by the import tariffs, insisting they would bring jobs and investment back to the United States, ultimately making the country “wealthy like never before.”

The tariffs, announced last week, have sparked global financial unease. Early Monday trading in Asia reflected the unrest, with Japan’s Nikkei 225 index plunging 6.3% and Hong Kong’s Hang Seng falling nearly 10%.

US markets were not spared either. On Friday, Wall Street saw one of its worst weeks since 2020, with the Dow Jones, Nasdaq, and S&P 500 all losing over 5%, while the latter closed nearly 6% down.

In the Middle East, Saudi Arabia’s Tadawul exchange saw its biggest drop since the COVID-19 pandemic, falling close to 7% by the close of Sunday’s trading session.

Despite the turbulence, the Trump administration has doubled down on its stance. Treasury Secretary Scott Bessent described the economic reaction as “an adjustment process” and insisted there was no reason to expect a recession due to the tariffs.

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Bessent also emphasized the leverage the US had gained, noting that more than 50 nations had approached the administration to discuss reducing tariffs and halting currency manipulation.

Commerce Secretary Howard Lutnick added that the 10% baseline tariff on all imports, which took effect a day earlier, would remain in place for “days and weeks,” confirming that reciprocal tariffs were still on schedule.

The next round of steeper tariffs targeting about 60 nations—referred to by the administration as the “worst offenders”—is set to begin on Wednesday, April 9.

Pressed on the economic burden for American consumers, Trump snapped at a reporter’s question about the public’s “pain threshold,” calling it “stupid” and reiterating that “sometimes you have to take medicine to fix something.”

Lutnick also addressed criticism of tariffs placed on two remote, uninhabited Antarctic islands. He claimed the measure was necessary to close shipping loopholes that allowed certain nations, including China, to evade stricter trade enforcement.

Trump ended his comments with a bold assertion that European and Asian nations were “dying to make a deal,” expressing confidence that the pressure would eventually lead to more favourable trade terms for the United States.

Reported by BBC