President Trump told Americans to “hang tough” Saturday as some of the tariffs he announced on Wednesday go into effect.
“China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly,” Mr. Trump wrote in a Truth Social post. “We have been the dumb and helpless ‘whipping post,’ but not any longer. We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast!”
He added in all caps, “this is an economic revolution, and we will win.”
“HANG TOUGH, it won’t be easy, but the end result will be historic,” he said.
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Mr. Trump on Wednesday implemented a baseline 10% tariff on all imports and additional, reciprocal tariffs on “worst-offender” countries, meaning the tariff would be half the rate the specific nation is charging the United States.
China’s tariff rate of 67% would now see a 34% rate from the U.S. on top of the previous 20%. The European Union’s 39% rate will not see a 20% rate from the U.S. There will also be a 25% tariff on automobiles made outside the country.
The baseline tariffs went into effect on Saturday, with the reciprocal tariffs going into effect on April 9.
China has already hit back with its own retaliatory tariff and said it will impose a 34% tariff on imports of American goods starting April 10.
“The U.S. practice is inconsistent with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice that not only undermines the interests of the United States itself, but also endangers global economic development and the stability of the production and supply chain,” the finance ministry in Beijing said.
The stock market has not responded well to Mr. Trump’s tariff war, and suffered its worst day Thursday since 2020. But, the president has maintained tha tariffs are necessary to hit back at the “unfair” treatment from other countries.
SEE ALSO: White House defends tariff plan amid global leaders’ uproar, Wall Street crash
He said tariffs will bring industries back to the U.S. and will provide more jobs for Americans.
In an all-caps Truth Social post Friday, Mr. Trump said, “To the many investors coming into the United States and investing massive amounts of money, my policies will never change. This is a great time to get rich, richer than ever before!!!”
In another all-caps post he wrote, “Great job numbers, far better than expected. It’s already working. Hang tough, we can’t lose.”
