The fallout continues after President Donald Trump's unveiling of severe tariffs against virtually all U.S. trading partners. On Sunday, ABC's "This Week" anchor George Stephanopoulos pressed White House National Economic Council Director Kevin Hassett about Trump reposting a video that said he was tanking the markets to force the Fed to lower interest rates. Hassett said Trump was entitled to his opinion, but denied that his tariff policy was intended to put pressure on the Fed to lower rates. Trading on Thursday and Friday marked the worst days for U.S. stocks since 2020. Trump says he won't make deal with China on tariffs unless trade deficit is resolved President Donald Trump said America's trade deficit with China must first be resolved before he considers making a deal regarding his sweeping tariffs against the country. "We have a trillion-dollar trade deficit with China hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I'm not going to make a deal," the president told reporters on Air Force One on Sunday. "Now, I'm willing to deal with China, but they have to solve their surplus. We have a tremendous deficit problem with China. They have a surplus of at least a trillion dollars a year. I think it's like a trillion one, and I want that solved," Trump said. The president also discussed with reporters the TikTok deal being in limbo, saying that China did not approve the deal because of the tariffs on the country. "The report is that we had a deal pretty much for TikTok, not a deal, but pretty close and then China changed the deal because of tariffs. If I gave a little cut in tariffs, it approved that deal in 15 minutes, which shows you the power of tariffs," Trump said. Trump addresses stock market losses after his tariffs announcement While speaking with reporters on Air Force One on Sunday, President Donald Trump said he didn't crash the stock market on purpose and that he doesn't know what will happen to the market, but believes the country will come out stronger. "Now what's going to happen with the market? I can't tell you, but I can tell you, our country has gotten a lot stronger, and eventually it'll be a country like no other, it'll be the most dominant country economically in the world," Trump said. Asked if there's a pain in the market he's unwilling to tolerate, Trump said he doesn't want anything to go down. "I don't want anything to go down, but sometimes you have to take medicine to fix something and we have such a horrible we have been treated so badly by other countries because we had stupid leadership that allowed this to happen," the president added. Economic adviser denies Trump’s tanking markets to force rate cuts Despite Trump’s reposting of a video that claimed he’s purposely crashing the stock market, the president’s top economic adviser on Sunday denied that’s his strategy. On ABC News’ “This Week,” anchor George Stephanopoulos pointed out the post on Trump’s Truth Social platform to White House National Economic Council Director Kevin Hassett and asked if he was trying to drive markets down to force the Fed to lower interest rates. On Friday, Federal Reserve Chair Jerome Powell said at a conference that Trump's tariff policy will hike prices and slow economic growth. Minutes before Powell spoke, Trump posted on Truth Social, "This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates,” and claimed without evidence that political considerations have played a role in Powell's decision-making on interest-rate policy. Pressed by Stephanopoulos on the post, Hassett said the White House respected the Fed’s independence and denied that Trump was trying to pressure it to lower rates. “It is not a strategy for the markets to crash. It's a strategy to create a golden age in America for the American worker. That's his strategy,” Hassett said. House Republican also planning bill to rein in Trump’s tariff authority Rep. Don Bacon's office confirmed to ABC News the Nebraska Republican plans to introduce legislation aimed at reining in President Donald Trump's authority to issue new tariffs. The legislation would largely match the bill introduced by Sens. Chuck Grassley and Maria Cantwell. The bill would require the White House to notify Congress of any future tariffs within 48 hours and would require Congress to vote to approve a tariff within 60 days. Bacon, a moderate, has repeatedly publicly broken with the Trump administration. The bill would likely need the support of House GOP leadership to pass, which is not expected. Politico first reported the news. Trump delivers message to Americans as tariffs take effect: 'HANG TOUGH' President Donald Trump remains defiant about his tariffs, saying this is "an economic revolution." In a new social media post, Trump appeared to acknowledge that American consumers will feel pain in the interim and tells them that in the long run it'll be worth it. "HANG TOUGH, it won’t be easy, but the end result will be historic," Trump wrote. The president also jabbed China, reiterating that other countries have treated the United States "unsustainably badly." The baseline tariffs went into effect this morning at 12:01 a.m. ET on Saturday, April 5. Universal 10% tariffs in effect as Wall Street continues reeling 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. Trump says businesses aren’t worried about 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. Trump reacts to rough market day with all caps post 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. Stephen Miller brushes off recession concerns as markets tumbles 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. Schumer calls on Republicans to join tariff limit bill Senate Minority Leader Chuck Schumer spoke with reporters on the Hill Friday and called on more Republicans to join a bipartisan bill from Sens. Maria Cantwell and Chuck Grassley to limit President Donald Trump's ability to issue future tariffs. He warned tariffs will "hurt the whole economy." "The business community is totally nervous about this. What makes it cause a recession? Businesspeople like certainty, and when Trump is all over the lot, issues new things every day, and it's so erratic, and now we have China retaliating," Schumer said.