US President Donald Trump has spoken out about the fall in the US stock market caused by his previously imposed tariffs. He said he did not want this, but "sometimes you have to take medicine to fix things."
Ukrainian financier and blogger Serhiy Fursa responded to Trump's statement about "medicines."
He writes: "And the bloody chainsaw massacre in the markets continues today. It's really bloody. And Trump tweets, stubbornly, like an unrecognized genius. "Someday everyone will understand"... Stubbornness? Or desperation? Or just stupidity? Or is it all Biden... Oh, these idiots."
The US president said he did not intentionally cause the US stock market to fall. On board Air Force One on April 6, the American leader told reporters:
"I don't want anything to fall apart, but sometimes you have to take medicine to fix something."
He also emphasized that he imposed tariffs on US imports because of the trade deficit with China: "We have to solve the trade deficit with China. We have a trillion-dollar trade deficit with China, we lose hundreds of billions of dollars a year in trade with China. And until we solve this problem, I'm not going to make a deal. I'm ready to deal with China, but they have to solve their surplus problem."
MP Yaroslav Zheleznyak published a fresh review of the markets. He notes three reasons for the phenomenon:
"Well, the wave of Trump's "trade war" has already reached the markets. In fact, there are three reasons. Many countries, including China, are imposing tariffs in response. Forecasts of a recession in the US have increased significantly. Goldman Sachs has already raised the risk of a recession in the US from 35% to 45%. And Polymarket gives 64% that it will happen in 2025. The States themselves have stated that they will not review tariffs."
He added relevant screenshots of the decline observed among indices, commodities, currencies, and cryptocurrencies.
"The yuan is the weakest since December (7.19/$)," Zheleznyak separately emphasized.
"$5 trillion disappeared from the market in two days — and this is not a metaphor. There have only been such falls four times in 85 years ," he emphasizes.
In addition, the Nikkei 225 index of the Tokyo Stock Exchange opened with a sharp drop of about 8% in the first 20 minutes of trading. This is reported by DW. The indicator has now leveled off at 31,560 points (-6.5%), but continues to fluctuate.
South Korea's KOSPI stock index fell about 5%, Hong Kong's Hang Seng fell about 9% and Shanghai's SSE Composite fell more than 5%. The collapse came after Beijing announced a 34% retaliatory tariff on US imports starting April 10.
But Europe, in response to the American leader's tariffs, announced the preparation of the first package of "response". The European Union countries are likely to approve the first package of countermeasures on imports of American goods worth up to $28 billion. This was reported by Reuters.
"The European Commission, which coordinates EU trade policy, will propose to members late on Monday a list of American goods that will be subject to additional duties in response to Trump's steel and aluminum tariffs, but not other "reciprocal" duties. It will include American meat, cereals, wine, wood and clothing, as well as chewing gum, dental floss, vacuum cleaners and toilet paper," the material says.
One product that has drawn more attention and divided the bloc is bourbon. The commission is proposing a 50% tariff, prompting Trump to threaten a 200% counter-tariff on EU spirits. Wine exporters France and Italy have expressed concern about the move.
"Apostrophe" also told how Trump explained his decision not to impose tariffs on Russia.