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United States President Donald Trump took to Truth Social on Monday, urging Americans to remain patient and steadfast as financial markets reel from escalating trade tensions with China.
“The United States has a chance 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!,” Trump wrote in a social media post.
Stock Markets Plunge Following China’s Retaliatory Tariffs
Financial markets have been in turmoil since China’s decision to impose a 34% tariff in response to U.S. trade measures announced by Trump on April 2. The Dow Jones Industrial Average dropped more than 2,200 points at the close of trading on Friday, a significant decline that signaled investor unease over the escalating trade war.
The volatility continued into Monday as U.S. stock futures plummeted. Traders, unsettled by the broad scope of Trump’s tariffs, continued to pull their money from the markets, raising concerns that the steep losses from the previous week would persist.
Corporate Leaders and Global Markets React
Financial industry leaders have also weighed in on the economic impact of the tariffs. Jamie Dimon, CEO of JPMorgan Chase, issued a letter to shareholders expressing concern about the long-term effects of the trade measures.
“The tariffs will raise prices on both domestic and imported goods and slow economic growth,” Dimon wrote, marking a shift from his earlier comments that had downplayed the risks associated with the tariffs.
The impact of the trade dispute is being felt globally. Chinese stock markets experienced sharp declines as investors reacted to the developments following a public holiday on Friday. Meanwhile, European markets also took a hit, with trade ministers from the European Union convening to formulate their initial response to the Trump administration’s tariff policies.
Trump Stands Firm on Trade Strategy
Despite the market turmoil and mounting criticism, Trump has shown no signs of backing down. Over the weekend, the president reaffirmed his commitment to imposing tariffs on all countries, defending his strategy through social media posts and comments to reporters. He emphasized that his policies are aimed at bringing billions of dollars back to the U.S. economy.
The global economic implications of the tariffs are also expected to be a focal point in diplomatic discussions. Israeli Prime Minister Benjamin Netanyahu is set to meet with Trump at the White House today, where he has indicated that he will seek tariff relief for Israel during their discussions.
Also Read: ‘Economic Nuclear Winter’: Billionaire Trump Supporter Urges Pause on US Tariffs
