The Latest: Trump says he’s not backing down on tariffs

President Donald Trump remained defiant Monday as global markets continued plunging after his tariff announcement last week.

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

Here’s the latest:

This morning, at 11 a.m., World Series Champions, the Los Angeles Dodgers, will visit the White House and meet the president. Later, at 1 p.m., Israel Prime Minister Benjamin Netanyahu will visit the White House and meet with Trump. At 2 p.m., Netanyahu and Trump will participate in a Bilateral Meeting in the Oval Office. At 2:30 p.m., they will hold a joint news conference.

Trump said Sunday that he won't back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S.

Speaking to reporters aboard Air Force One, Trump said he didn't want global markets to fall, but also that he wasn't concerned about the massive sell-off either, adding, "sometimes you have to take medicine to fix something."

His comments came as global financial markets appeared on track to continue sharp declines once trading resumes Monday, and after Trump's aides sought to soothe market concerns by saying more than 50 nations had reached out about launching negotiations to lift the tariffs.

The higher rates are set to be collected beginning Wednesday. Treasury Secretary Scott Bessent said unfair trade practices are not "the kind of thing you can negotiate away in days or weeks." The United States, he said, must see "what the countries offer and whether it's believable."