UK’s FTSE hits one-year low in tariff turmoil, as Asian markets suffer worst day in decades

Associated Press Finance

Trump says he’s not backing down on tariffs, calls them ‘medicine’ as markets reel

President Donald Trump said Sunday that he won’t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S., digging in on his plans to implement the taxes that have sent financial markets reeling, raised fears of a recession and upended the global trading system. Speaking to reporters aboard Air Force One, Trump said he didn’t want global markets to fall, but also that he wasn’t concerned about the massive sell-off either, adding, “sometimes you have to take medicine to fix something.” “I spoke to a lot of leaders, European, Asian, from all over the world,” Trump said.