President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon.

Trump, speaking Sunday on Air Force One, struck a determined tone and repeatedly defended the tariff barrage unveiled last week. He also drew something of a line in the sand, saying he wouldn’t strike deals to cut the highest tariffs unless they’d eliminate the US trade deficit with that country.