U.S. President Donald Trump declared that he would not back down from his hardline tariff policies, despite a sharp downturn in the stock markets and a wave of international retaliatory measures, including an aggressive response from China.
MY POLICIES WILL NEVER CHANGE, Trump wrote on Truth Social on Friday. NOW IS THE BEST TIME TO GET RICH — RICHER THAN EVER BEFORE!!!
The statement came after Trump introduced sweeping new tariffs against U.S. trading partners on Wednesday. The measures sparked major market concerns and raised the risk of a full-scale trade war. On Friday, China announced retaliatory tariffs of 34% on American goods starting April 10. Other major economies, including the EU, are expected to follow Beijing’s lead.
In response to China’s move, Trump said:
CHINA MADE A MISTAKE, THEY PANICKED — THAT’S THE ONE THING THEY CAN’T AFFORD TO DO!
The White House dubbed the day the tariffs were imposed as “Liberation Day” and held a celebratory event in the Rose Garden, where Trump unveiled his economic plans. However, markets reacted sharply negatively: on Thursday, the Dow Jones Industrial Average plunged by 1,700 points, and U.S. stocks suffered their worst day since March 2020 — the onset of the COVID-19 pandemic.
