Josh Weiner
President Trump insists the U.S. is “getting stronger” amid global market sell-off, but critics warn of economic turmoil and recession risk.
As financial markets brace for another turbulent week, President Donald Trump is doubling down on his aggressive trade strategy — even as global stock sell-offs signal growing investor alarm and economic uncertainty.
Speaking Sunday evening after a weekend at his Florida golf resort, Trump appeared unfazed by the market chaos sparked by his sweeping new tariffs, declaring that he’s “open to talking” with global leaders about new trade arrangements. Despite mounting backlash from international partners and economic anxiety at home, the president painted an optimistic picture.
“I’ve spoken to many countries — and they’re being very nice,” Trump said, dismissing concerns while en route to Washington aboard Air Force One.
Yet, even as he spoke, Tokyo markets opened to sharp losses, leading a wider Asian downturn. U.S. futures pointed to more carnage ahead on Wall Street, where investors are grappling with the fallout of Trump’s escalating trade war and the possibility of a looming recession.
“I don’t want anything to go down,” Trump told reporters. “But sometimes you have to take medicine to fix something.”
Conflicting Signals from the White House
Trump’s top officials struggled Sunday to present a unified message. While some framed the tariff moves as short-term leverage for negotiating better deals, others suggested a long-term overhaul of the global economic system was underway.
Agriculture Secretary Brooke Rollins characterized the trade conflict as a national security matter, emphasizing the need to bring jobs back to the U.S. “This is about reshoring millions of jobs,” she said on CNN’s State of the Union. But she also implied that the tariffs were being used as dealmaking pressure — reinforcing Trump’s image as a hard-nosed negotiator.
Commerce Secretary Howard Lutnick, however, was far less ambiguous. Speaking on CBS’s Face the Nation, he confirmed that the new tariffs — which affect goods from 185 countries and territories — would go into effect without delay. “The president needs to reset global trade,” he said bluntly.
Economic Pain and Political Blowback
Last week’s stock market plunge — with the Dow and S&P 500 each shedding more than 5% in a single day — rattled retirement accounts across the country. Still, Treasury Secretary Scott Bessent appeared to brush off the growing alarm. “This is just an adjustment,” he told NBC’s Meet the Press, urging Americans to take a long-term view.
But such comments have only amplified criticism that the Trump administration is out of touch. Bessent, a wealthy former hedge fund manager, downplayed the real-world impact on Americans nearing retirement or living paycheck to paycheck.
Meanwhile, protests erupted in cities across the U.S. over the weekend, marking the largest wave of anti-Trump demonstrations since his reelection. Many Republicans in Congress are beginning to question the president’s strategy, with some co-sponsoring a bipartisan bill that would require congressional approval for new tariffs within 60 days.
Senator Maria Cantwell, a Democrat from Washington co-leading the legislative push, said on Sunday that concern is growing among lawmakers. “The stock market’s impact on retirement savings is shaking people. And consumer pain is becoming real,” she said.
An Uncertain Path Forward
While Trump insists that his tariff strategy will restore American industry and bring prosperity, critics warn that the plan is both economically risky and ideologically outdated. His emphasis on reducing trade deficits and reviving manufacturing ignores the modern makeup of the U.S. economy, which is now dominated by tech and service sectors.
Trump’s top trade adviser, Peter Navarro, has doubled down on the administration’s hardline approach, stating that even zero tariffs from other countries would not be enough. “This isn’t a negotiation,” Navarro said, adding that countries must also address non-tariff barriers and currency policies.
Such rigidity risks alienating global partners, many of whom are already retaliating. China, for instance, has hit U.S. goods with a 34% tariff, while U.S. tariffs on Chinese imports now exceed 50% in some cases. Trump continues to claim that other nations “pay” for the tariffs, but economists broadly agree that American consumers ultimately bear the cost — potentially triggering a consumer spending slowdown that could tip the economy into recession.
Political Stakes and Public Perception
As Democrats regain their footing following the 2024 elections, recent developments — including a major liberal win in a Wisconsin Supreme Court race — suggest growing momentum for an energized resistance. The scale of anti-Trump protests this weekend and rising economic discontent could signal deeper trouble ahead for the president.
Still, Trump appears unbowed. On Truth Social, he declared: “We have been the dumb and helpless ‘whipping post,’ but not any longer. THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH.”
Then, on Sunday, he returned to the golf course.
