Trump Digs In His Heels, Telling People To Be Patient As Global Markets Keep Dropping Over Tariffs

President Donald Trump remained defiant on Monday as global markets continued plunging and fears of a recession grew after his tariff announcement last week.

"Be Strong, Courageous, and Patient, and GREATNESS will be the result!" he wrote on Truth Social, his social media platform.

Trump accused other countries of "taking advantage of the Good OL' USA!" on international trade and said "our past 'leaders' are to blame for allowing this."

The Republican president has insisted his tariffs are necessary to rebalance global trade and rebuild domestic manufacturing. He has singled out China as "the biggest abuser of them all" and criticized Beijing for increasing its own tariffs in retaliation.

He also called on the Federal Reserve to lower interest rates. On Friday, Federal Reserve Chair Jerome Powell warned that the tariffs could increase inflation , and he said "there's a lot of waiting and seeing going on, including by us," before any decisions would be made.