WASHINGTON — As global stock markets plummet following his reciprocal tariff announcement last week, President Donald Trump continues to defend the move. On Monday, he took to Truth Social multiple times to reiterate what he has often said: that foreign countries are taking advantage of the United States and that the U.S. must be patient to see results.

What You Need To Know

  • President Donald Trump defended his tariffs in multiple posts on Truth Social Monday

  • Since he announced reciprocal tariffs last week, stock markets have plummeted around the world

  • On Monday, Trump wrote, "Tough but fair parameters are being set"

  • Trump’s flurry of Truth Social posts Monday come amid warnings from multiple leaders in the financial sector who say the U.S. and world could fall into recession this year because of the tariffs

“The long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place,” Trump wrote in a post at 6:49 a.m. EDT in which he singled out China as “the biggest abuser of them all” that has taken advantage of the United States for decades.

He followed that post two hours later, saying, “The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!”

On Wednesday, Trump announced a new 10% baseline tariff on all countries that took effect Saturday and even larger tariffs on dozens of other countries to take effect Wednesday. In a fact sheet, the White House said the tariffs will ensure fair trade, protect American workers and reduce the trade deficit.

Since the announcement, stock markets around the world have tumbled. The S&P 500 has fallen about 14% since Wednesday, and the Dow Jones Industrial Average was down 12% as of Monday morning. Markets in Europe and Asia have also plummeted.

“I don’t want anything to go down, but sometimes you have to take medicine to fix something,” Trump told reporters Sunday about Air Force One.

Trump’s flurry of Truth Social posts Monday come amid warnings from multiple leaders in the financial sector who say the U.S. and world could fall into recession this year because of the tariffs. 

“We are likely to see inflationary outcomes,” JPMorgan Chase CEO Jamie Dimon said in a letter to shareholders Monday. “Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

Other financial leaders were more pointed. 

“We are heading for a self-induced, economic nuclear winter,” billionaire hedge fund manager and Trump supporter Bill Ackman wrote in one of multiple posts about the tariffs on X over the weekend.  “The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system.”

With the most severe of the tariffs yet to take effect, Trump wrote on Truth Social Monday, “Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate!

“They have treated the U.S. very poorly on Trade," he continued. "They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other ‘things.’ It all has to change, but especially with CHINA!!!”

Trump posted several broadcast news clips on Truth Social Monday morning showing support for his economic policies, including a segment from Newsmax highlighting the latest jobs report and a Fox Business segment defending the tariffs.