WASHINGTON—President Donald Trump has defended his controversial tariff strategy following a steep drop in the U.S. stock market.
He insists his economic policies remain unchanged and encourages investors to take advantage of what he describes as a prime opportunity for wealth.
In a post shared on Truth Social Friday, Trump wrote: “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!!!”
The remarks came just days after Trump announced sweeping new tariffs on several major U.S. trading partners. The move, announced Wednesday, led to a sharp selloff in financial markets and immediate threats of retaliation from other nations.
China responded by imposing a 34% tariff on U.S. goods starting April 10, and the European Union is also expected to take similar measures.
Trump sharply criticized Beijing’s countermeasures, claiming the Chinese government had reacted out of fear. “China played it wrong, they panicked – the one thing they cannot afford to do!” he said in a follow-up statement.
Framing his protectionist measures as a way to rebalance what he sees as long-standing trade injustices, Trump argued the United States has been “looted, pillaged, raped and plundered” by countries around the world. He insists the tariffs will restore American manufacturing jobs and reset global trade dynamics in the nation’s favor.
The White House marked the implementation of the tariffs with an event in the Rose Garden, dubbing it “Liberation Day,” despite Wall Street’s reaction. On Thursday, the Dow Jones Industrial Average plunged by 1,700 points — its worst single-day loss since March 2020.
On Friday, Trump pointed to a robust March jobs report, which recorded 228,000 new jobs added, validating his practical economic approach.
However, economists noted that the job data reflects the period before the tariffs took effect and may not accurately capture their impact.
As global markets remain on edge, Trump has shown no signs of backing down from his trade strategy, reiterating his commitment to policies he believes will ultimately strengthen the U.S. economy.
