Donald Trump says he is not backing down on tariffs

President Donald Trump waves as he arrives at the White House on Marine One on Sunday. File picture: Manuel Balce Ceneta/AP

US president Donald Trump said he will not back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the US.

The president dug in on his plans to implement the taxes, which have sent financial markets reeling, raised fears of a recession and upended the global trading system.