Trump says he will cut trade with nations running deficits unless Fed lowers rates

Asked whether he would cut off trade with nations running deficits unless the Federal Reserve lowers interest rates, President Donald Trump replied, "Oh, yeah. Yeah. I'm going to do that with some nations. I'll have no choice." He said the U.S. should not run deficits and that previous presidents allowed 'tremendous deficits.'

The president said such measures 'will take place over a period of time' and framed them as part of a broader push to change long-standing trade imbalances. He did not specify which countries would face trade restrictions or how such measures would be implemented.