President Donald Trump told a questioner that he intends to stop trading with some nations to ensure the United States achieves a trade surplus or at least breaks even. The administration will target countries that run trade deficits with the U.S., with Trump stating he will end trade relations entirely if the Federal Reserve does not lower interest rates.

The threats come three days before the Fed's next policy decision on Wednesday, following calls from Trump for the U.S. to have the lowest borrowing costs in the world. NEC Director Kevin Hassett cautioned Fed Chair Kevin Warsh that the central bank has only hiked rates before an election a few times since 1913 and should remain neutral to preserve its independence.