‘I’m not going to bend at all’: Trump doubles down on tariff plans as stocks sink

President Donald Trump on Thursday doubled down on his escalating tariff plans, even as his economic agenda continued to rattle investors and contribute to a weekslong stock market sell-off.

“I’m not going to bend at all,” Trump said when asked about his tariff plans during an Oval Office meeting with NATO Secretary General Mark Rutte.

“We’ve been ripped off for years, and we’re not going to be ripped off anymore,” he said.

Trump specifically said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House has said those tariffs are set to take effect April 2.

Trump’s comments came as major stock indexes continued to tumble Thursday, with the S&P 500 falling 10% from its recent highs and entering correction territory.

Numerous analysts and business leaders have warned that Trump’s tariffs, and his unpredictable use of them, are sowing chaos in the markets.

But Trump has continued to issue new tariff threats this week, as he seeks to hit back at countries that have retaliated against his actions.

After new U.S. tariffs on steel and aluminum imports took effect Wednesday, the European Union responded by announcing a plan to impose a 50% tariff on imports of American whiskey and other U.S. goods.

Trump lashed out Thursday morning, declaring that he would slap 200% tariffs on EU alcohol exports — including all wines and French champagnes — unless the bloc dropped its countermeasure.

This is developing news. Please check back for updates.