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President Donald Trump made it clear this weekend that he is not backing down from his global tariff rollout, despite a sharp market sell-off and growing public unease. Speaking aboard Air Force One, the president acknowledged the economic pain, but compared the situation to taking medicine. “I don’t want anything to go down, but sometimes you have to take medicine to fix something,” he said.

The President’s statement came as U.S. stock futures dropped sharply again on Sunday. The S&P 500 has already fallen more than 11 percent since the tariff announcement. Asian markets also reacted, with the Nikkei and Hang Seng indexes each dropping between six and nine percent. Europe’s markets are expected to follow suit.

Trump Not Backing Down: Tariffs Set to Take Effect Wednesday

White House officials confirmed that more than 50 countries have reached out to begin negotiations, but no progress has been announced. Meanwhile, the new tariffs, set to take effect Wednesday, will impact imports from allies and rivals alike, including Israel and Vietnam. Israeli Prime Minister Benjamin Netanyahu is expected to raise the issue directly with Trump during an official visit this week.

The White House insists that these trade penalties are long overdue. His economic advisers argue that the United States has allowed itself to be shortchanged for decades, and tariffs are the only way to force foreign governments to make fair trade deals. But while the administration focuses on the big-picture strategy, many Americans are worried about their day-to-day financial stability.

Across the country, households and business owners are expressing concern about how these tariffs will affect their budgets. With imports hit across categories, families expect to pay more for groceries, gas, clothes, and home goods. For working-class Americans, even small increases in food and fuel prices can have a major impact. Many are asking how long they will be expected to absorb these costs.

Small Businesses Sound The Distress Call

Small business owners are also sounding the alarm. Retailers and manufacturers say they are already facing tighter margins due to higher supply chain costs. Some are delaying hiring or passing increases on to customers. Others warn that if tariffs last more than a few months, they may have to make difficult decisions, including layoffs or price hikes.

However, Trump urged Americans to “hang tough” and promised that the economic pain would be worth it. However, no timeline has been offered for when any benefits might arrive. Commerce Secretary Howard Lutnick said the tariffs would remain in place “for days and weeks,” though he offered no detail beyond that. Treasury Secretary Scott Bessent added that “there doesn’t have to be a recession,” but acknowledged that short-term volatility is likely.

Some Republican lawmakers are uneasy with Trump’s decision of not backing down. A bipartisan group in Congress is pushing legislation to require future tariffs to receive congressional approval within sixty days. Supporters say the current system gives too much power to the president and not enough protection to consumers and small businesses.

Something’s Got to Give, But Trump’s Not Backing Down

Meanwhile, prominent economists are questioning whether tariffs can accomplish both of Trump’s goals: pressuring foreign governments while strengthening American industry. Lawrence Summers warned that if the U.S. removes tariffs once countries agree to trade terms, it collects no revenue and gains no manufacturing advantage. If the tariffs stay in place permanently, the economic strain may outweigh the benefit.

Despite these warnings, Trump remains firm. He told reporters that countries must “pay us a lot of money on a yearly basis” if they want talks to move forward. He insisted that the tariffs will continue until U.S. trade balances are either even or in surplus. For now, Americans are being asked to carry the weight of that strategy without clear answers on how long it will last or how much it will cost. 

Are you backing up President Donald Trump when he said he’s not backing down on the issue of trade tariffs? Tell us what you think!

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