Mar 22, 2025; Philadelphia, PA, USA; President Donald Trump during the Division I Men's Wrestling Championship held at Wells Fargo Center. Mandatory Credit: Eric Hartline-Imagn Images
Washington D.C. – President Donald Trump is doubling down on his sweeping and controversial tariff policy, defending the economic fallout as a necessary step to correct what he calls decades of “abuse” by America’s global trading partners.
In an interview with ABC News aired Tuesday, Trump pushed back against critics of his aggressive trade measures, saying voters had fair warning about his intentions. “Well, they did sign up for it, actually. And this is what I campaigned on,” he said, referencing his 2024 re-election campaign, which heavily featured harsh rhetoric on trade and promises of “reciprocal tariffs.”
On April 2, Trump followed through on those promises, announcing tariffs on over 180 countries. A baseline 10% rate took effect April 5, followed by a variable second wave of tariffs on April 9—only for Trump to declare a 90-day pause on the same day. The erratic rollout sent markets reeling and prompted widespread criticism from economists, business leaders, and even some within his party.
“I could have left it that way, and at some point, there would have been an implosion like nobody’s ever seen,” Trump said, defending the decision. “But I said, ‘No, we have to fix it.’ I have wanted to do this for many years.”
Despite the immediate backlash and a sharp economic contraction in the first quarter—driven in part by a rush of pre-tariff imports—Trump remained defiant. He dismissed concerns that the tariffs could tip the country into recession, even as small and midsize businesses, which make up nearly 44% of the U.S. GDP, brace for potential fallout.
“This is a lot more than numbers,” said Christopher Tsai, president of Tsai Capital. “People’s jobs are at stake, and businesses that have been thriving and contributing to the economy for years are suddenly in an extremely different situation. That’s worrisome to me.”
Trump addressed the growing economic unease in a Truth Social post on Easter Sunday, ridiculing business leaders opposed to the tariffs:
“THE BUSINESSMEN WHO CRITICIZE TARIFFS ARE BAD AT BUSINESS, BUT REALLY BAD AT POLITICS. THEY DON’T UNDERSTAND OR REALIZE THAT I AM THE GREATEST FRIEND THAT AMERICAN CAPITALISM HAS EVER HAD!” he wrote.
In a separate statement Wednesday, Trump urged Americans to remain patient, blaming former President Joe Biden for the economic downturn. “This is Biden’s Stock Market, not Trump’s,” he said. “Our country will boom, but we have to get rid of the Biden overhang. This has NOTHING TO DO WITH TARIFFS.”
The President insisted that once the dust settles, the result will be a “boom like no other.”
But for now, the markets remain jittery, small business owners are scrambling, and economists warn that the timeline for any potential economic upswing remains murky.
With more tariffs and trade battles potentially on the horizon, Trump’s message is clear: He’s not backing down and believes America’s long-term prosperity hinges on enduring the short-term pain.
