Trump defends tariffs: "There is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars"

President Donald Trump on Monday once again defended last week's tariffs initiative. "Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION," he posted on Truth Social. The Fed was scheduled to meet hours later, behind closed doors, for "review and determination" of rates. 

His comments came shortly after international stock markets opened, amid sharp declines in Asia and Europe. Trump added, “The long-time abused USA is bringing in billions of dollars a week from the abusing countries on tariffs that are already in place.”

He also took aim at China, "the biggest abuser of them all." Beijing responded to the 34% tariffs on its imports with retaliatory measures of the same percentage. In recent hours, Trump insisted that China's new tariffs come on top of "long term ridiculously high tariffs" already in place and claimed that they had ignored his warning to "abusing countries not to retaliate."

"They've made enough, for decades, taking advantage of the Good OL' USA!" he added. "Our past 'leaders' are to blame for allowing this, and so much else, to happen to our Country," he also wrote before ending with his classic catchphrase: "MAKE AMERICA GREAT AGAIN!"

Nearly two hours later, the president made a new post claiming that the country had the opportunity to "do something that should have been done DECADES AGO." 

"Don’t be Weak! Don’t be Stupid!" He added "Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!"