New Delhi, April 7 -- US President Donald Trump defended his reciprocal tariff plans noting that there is a massive financial deficit between the United States and countries like China and the European Union and that 'tariffs are the only way to correct these trade imbalances'

Trump also criticised the trade surplus under former President Joe Biden and vowed to reverse it quickly.

On a Truth Social post, Trump wrote, "We have massive financial deficits with China, the European Union, and many others. The only way this problem can be cured is with tariffs, which are now bringing tens of billions of dollars into the USA. They are already in effect, and a beautiful thing to behold."

He added, "The surplus with these countries has grown du...