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President Donald Trump holds an enforcement order to increase tariffs, surrounded by US Secretary of Commerce Howard Luni, in the Washington Oval Cabinet in Washington, Colombia, USA, February 13, 2025.
Kevin Lamark | Reuters
The Trump Administration will remain steadfast in its reciprocal tariffs for the main US trading partners even in the face of a global stock market, commerce secretary Hoard Luni told “Face the Nation” on CBS “ On Sunday.
Stocks have sold heavily in the US and worldwide after the President Donald Trump Wide -ranging rates on April 2. In addition to a 10% duty on all imported goods, Trump has announced higher import levies from 57 countries to be held on April 9th.
(Set up to CNBC Sunday from 7pm ET for a special live report on US markets.)
“The tariffs are coming. He announced it and he wasn’t joking. The tariffs are coming. Of course they are,” Luni said.
He added that the White House was not considering extending the deadline to start.
“There is no delay. They will definitely stay in place for days and weeks,” Luni said. “The president must reset global trade. Everyone has a trade surplus and we have a commercial deficit.”
In the two trade sessions after the declaration, global shares deleted $ 7.46 billion market value based on the market capitalization of S&P Global Broad Market Index, according to the S&P Jones Indices.
Luni’s comments echo those of the Minister of Finance Scott Bensten “Meet the Press” on NBC On Sunday. Bestent said the Trump administration “would” conduct the course “when imposing tariffs.
