President Trump urged Americans on Monday to remain "Strong, Courageous, and Patient" amidst market volatility spurred by his tariff policies. This statement comes after significant market declines, with the S&P 500 dropping 10.5% over two days, marking its largest fall since March 2020.
Trump indicated a willingness to negotiate tariff reductions with certain countries, stating that Japanese Prime Minister Shigeru Ishiba will send a team to negotiate the 24% tariff imposed on the US ally. However, he noted that negotiations with China will not occur until the US addresses its trade deficit with Beijing.
Trump also mentioned having spoken with representatives from Europe and Asia, expressing their eagerness to reach a deal. White House officials have provided varying perspectives on the duration of the tariffs, with some highlighting the potential for increased American manufacturing and others emphasizing the numerous countries seeking negotiations.