AP Photo/Mark Schiefelbein
President Donald Trump told Americans to “hang tough” as stocks are plummeting following his implementation of tariffs on a number of countries.
“China has been hit much harder than the USA, not even close,” Trump wrote on Saturday morning. “They, and many other nations, have treated us unsustainably badly.”
China implemented a 34% tariff on U.S. imports in response to the president’s tariffs, which he signed on Wednesday, a day he’s repeatedly referred to as “Liberation Day.” Despite uncertainty in the markets, Trump has maintained that his use of tariffs will lead to better trade deals and a manufacturing boom in the U.S.
On Truth Social, the president touted companies making investments in the United States and told people to “hang tough” through what he promises will be an “economic revolution.”
On Friday, the Dow Jones was down by 2,200 points or 5.5% at closing. The Nasdaq and the S&P 500 also both closed down 5.8% and 5.
Trump claimed that past trade deals made the United States into the “whipping post” for other nations and his current tariff war will end that.
“We have been the dumb and helpless ‘whipping post,’ but not any longer,” he wrote. “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!!!”