by WorldTribune Staff, April 6, 2025 Real World News
All three major stock indexes fell for a second consecutive day on Friday following President Donald Trump’s “Liberation Day” tariffs announcement on Wednesday.
Based on two days, China has declared Trump’s move a failure.
“The market has spoken,” Chinese Foreign Ministry spokesperson Guo Jiakun said in a post on Facebook on Saturday morning.
Sharing an image referencing Friday’s U.S. stock market downturn, Guo said, “the trade and tariff war started by the U.S. against the world is unprovoked and unjustified.”
The Trump Administration should look to resolve differences with its trading partners through “equal-footed consultation,” Guo added.
Trump hit China with 34% of additional reciprocal tariffs, bringing total U.S. tariffs against the communist nation to 54%.
In a post to Truth Social on Saturday, Trump wrote:
“China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly. 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! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic. We will, MAKE AMERICA GREAT AGAIN!!!”
Economic Council Director Kevin Hassett said that more than 50 nations have already reached out to begin negotiations following Trump’s “Liberation Day” policies.
“I got a report from the USDR last night that more than 50 countries have reached out to the President to begin a negotiation. But they’re doing that because they understand that they bear a lot of the tariff.”
Treasury Secretary Scott Bessent told NBC’s “Meet the Press” on Sunday: “The market consistently underestimates Donald Trump.”
“Who knows how the market is going to react in a day, in a week. What we are looking at is building the long-term economic fundamentals for prosperity and I think the previous administration had put us on the course toward financial calamity,” Bessent said.
Bessent said that the Trump Administration is “going to hold the course” to impose the tariffs and bring down inflation.
“This is an adjustment process,” he said. “What we saw with President [Ronald] Reagan when he brought down the great inflation, and we got past the [President Jimmy] Carter malaise, there was some choppiness at that time, but he held the course, and we’re going to hold the course.”
“Our trading partners have taken advantage of us. We can see that through the large surpluses. We can see this through the large budget deficits,” the secretary said.
If not tariffs, then what? What will we do to protect ourselves from China?
— Gordon G. Chang (@GordonGChang) April 5, 2025
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Main target of Tump tariffs — China — deems them a failure; 50 nations ‘reach out’ added by Editor Two on April 6, 2025
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