While international markets continue to struggle with uncertainty, US President Donald Trump yesterday (April 7) encouraged American citizens to remain strong and not be "weak" or "stupid.
Going on social media, Trump posted, "The United States has an opportunity to do something that should have been done DECADES AGO. Don't be Weak! Don't be Stupid! Don't be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!"
This incendiary remark came as US stock indexes continued their negative trend in late-morning trading. The markets have been under duress as concerns over the administration's pugnacious tariff measures grow, with suggestions to impose duties on all imports and target specifically some of America's biggest trading partners.
In a second Truth Social post, Trump celebrated the recent decline in oil prices — largely due to declining global demand — as a huge policy win. He penned, "Oil prices are lower, interest rates are lower (the slow moving Fed should lower rates!), food prices are lower, there is no inflation, and the long time exploited USA is taking in Billions of Dollars a week from the exploiting nations on Tariffs that already exist."
Carrying on his criticism of world trade policies, Trump attacked China for drastically increasing tariffs on American imports. "This in spite of the fact that the largest abuser of them all, China, whose markets are collapsing, just increased its Tariffs by 34 per cent, on top of its long term absurdly high Tariffs (Plus!), not heeding my warning for abusing nations not to retaliate. They've made enough, for decades, exploiting the Good OL' USA! Our previous "leaders" are responsible for letting this, and so much more, happen to our Country. MAKE AMERICA GREAT AGAIN!"
Amid intensifying apprehension over the increasing trade war, Trump warned China that an even greater move will be launched if it continues with its countermove. The threat came following Beijing's escalation to impose a 34 percent duty on United States products after an earlier measure by Washington to impose 54 percent tariffs on Chinese exports.
In another Truth Social post, Trump stated, "Yesterday, China imposed Retaliatory Tariffs of 34 per cent, in addition to their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of businesses, and huge long term Currency Manipulation, in spite of my warning that any nation that Retaliates against the US by imposing further Tariffs, above and beyond their already present long term Tariff abuse of our Country, will be immediately confronted with new and significantly higher Tariffs, above and beyond those originally established."
He followed up with a deadline for action: "So, if China doesn't drop their 34 per cent addition to their already extended term of trading abuses tomorrow, April 8th, 2025, the United States will increase Tariffs on China to 50 per cent, effective April 9th. And also, all discussions with China about their asked meetings with us will be cancelled! Negotiations with other nations, who have also asked for meetings, will immediately start taking place. Thank you for your concern with this issue!"
Meanwhile, China replied through the state-controlled People's Daily, which made a statement showing calm and defiance in the face of US pressure. "The sky won't fall. Faced with the indiscriminate punches of US taxes, we know what we are doing, and we have tools at our disposal," the newspaper observed, even as Shanghai and Beijing stock markets posted sharp losses.
Read also| US tariff hikes destabilise global economy, Says Dmitry Peskov
Read also| Trump Confirms Direct Dialogue with Iran as Nuclear Tensions Escalate
