Trump Enjoys Golf Despite Market Crash…"How Beautiful Tariffs Are for the US"

Determination to Enforce Tariffs

Rutnick Commerce "No Delay in Reciprocal Tariffs"

Besant Treasury "Economy is Moving Forward"

On the 6th (local time), U.S. President Donald Trump said, "Billions of dollars are coming into the U.S. through tariffs," calling it a "beautiful sight." Despite the global stock market crash due to reciprocal tariffs imposed by Trump on various countries and retaliatory tariff moves by countries like China, he praised the tariffs.

President Trump stated on social media that day, "We have trade deficits with China, the European Union (EU), and many countries," and "The only way to fix this problem is through tariffs." He added, "The tariff policy is already showing results." He also wrote, "During the sleepy Joe Biden (former) presidency, these countries' surpluses with the U.S. increased even more," and "We will reverse this trend, and someday people will realize how beautiful tariffs are for the U.S."

Despite the New York Stock Exchange crashing on the 3rd and 4th, with a market cap loss of $6.6 trillion due to the impact of reciprocal tariffs, President Trump spent time at a golf club near his residence in Florida. The Trump administration's cabinet also shows determination to enforce tariffs, regardless of concerns about economic recession or market collapse due to tariff shocks. U.S. Commerce Secretary Howard Rutnick stated that there is no possibility of delaying or postponing reciprocal tariffs scheduled to take effect on the 9th for negotiations. In an interview with CBS on the 6th, Secretary Rutnick answered "There is no delay. It will remain as it is for days or weeks. That is clear," when asked if the president is considering delaying the implementation of reciprocal tariffs for negotiations.

Treasury Secretary Scott Besant also appeared on NBC News that day, stating, "When President Trump was (first) elected in 2016, the market crashed, but eventually, President Trump became the most pro-business president in the last 100 years, if not in U.S. history," and "The real yield of (companies) was very high over the next four years." He also said, "The economy is moving forward," and "There is no reason to reflect a recession in (the policy)."

He further stated, "The U.S. trade system has been an abnormal structure that has persisted over the years, and it is also a matter related to national security." When asked if tariffs are permanent or a tactic for negotiations, he said, "That would be up to the president to decide, but it is true that he has secured the greatest negotiating power now."

New York = Correspondent Park Shin-young nyusos@hankyung.com