US President Donald Trump on Saturday doubled down on his sweeping tariff policies, claiming that China has been hit “much harder” than the United States in the ongoing trade war between the world’s two largest economies.
His remarks came a day after US stock markets tumbled, leading to concerns over a potential global recession.
Taking to Truth Social, Trump defended the economic impact of his tariff strategy, calling it an “economic revolution.” He 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!!!”
Trump’s comments follow China’s announcement that it will impose reciprocal 34% tariffs on all US imports starting April 10. The move came in response to Trump’s own decision to slap an additional 34% tariff on Chinese goods entering the US, rising tensions and raising the stakes in the already strained US-China trade relationship.
In a statement, China’s State Council Tariff Commission condemned the US move, calling it “a typical unilateral bullying practice” that violates international trade norms and “seriously undermines China’s legitimate rights and interests.”
Trump, however, dismissed Beijing’s response as a sign of weakness. He claimed China had “panicked” following his Thursday announcement of the new tariffs.