President Donald Trump denied intentionally causing the recent market declines, emphasizing his aim to reduce the United States trade deficit. The global stock markets have been struggling following Trump's announcement of reciprocal tariffs that exceeded expectations, resulting in significant losses on Wall Street. In response, China imposed retaliatory tariffs of 34% on all US imports, escalating the international trade conflict.

Trump stated that although he prefers economic stability, sometimes tough decisions are necessary to address problems. He highlighted the urgency of resolving the trade deficit with China, which amounts to a trillion dollars annually. Additionally, he demanded financial compensation from Europe in exchange for negotiations on trade.

There is a general apprehension in the financial markets due to the ongoing trade disputes, with Asian stock markets experiencing further declines. Major indices like Hong Kong's Hang Seng Index and Japan's Nikkei 225 have dropped significantly, with the former losing its gains since February. Analysts suggest that market stability could be restored if Trump signals a willingness to negotiate lower tariffs with trading partners.