The comments come as investors worry that a more severe approach signaled by the Trump administration would dampen sentiment enough to slow down the economy.

Earlier in the day, the president announced a 25% tariff on any country that buys oil or gas from Venezuela.

President Donald Trump’s tariff ambitions have been a tough sell. They’ve put investors in a tizzy, sending financial markets spiraling; cost him the support of many members of his own voter base; and angered CEOs.