Trump addresses stock market losses, China trade deficit

Across-the-board 10% tariffs on nearly all imports -- one-half of President Donald Trump's "Liberation Day" tariffs -- went into effect early Saturday, amid continued economic fallout from Trump's plan.

More severe tariffs on imports from several dozen countries -- including a 34% tax on Chinese goods and a 20% tax on European Union imports -- are slated to go into effect April 9.

Wall Street has been roiling ever since Trump's Wednesday announcement. The trading session on Friday marked the worst day for U.S. stocks since 2020.

Trump has brushed off concerns about the short-term pain economists expect to be passed on to American consumers as a result of the tariffs.

In a new social media post Friday evening, President Donald Trump continued to paint a rosy picture when it comes to the plan for tariffs he unveiled earlier this week.

“Big business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy,” Trump wrote.

“Very important. Going on right now!!!” he continued.

-ABC News' Kelsey Walsh

As markets tumbled and fears of recession grew, Trump had no public events and spent most of it playing golf at the Trump International Golf Club.

Trump arrived at the golf club at 9:45 a.m., according to the pool traveling with him, and left the club around 3:30 p.m.

However, on Friday afternoon, he posted a five word message in all caps post on Truth Social.

"ONLY THE WEAK WILL FAIL!"

-ABC News' Michelle Stoddart

As stock markets see record losses stemming from President Donald Trump's tariffs, White House deputy chief of staff Stephen Miller brushed off concerns about a recession.

"The exact opposite," Miller told Fox News before blaming Biden for the country's economic woes.