Trump urges Americans to 'hang tough' on tariffs plan as markets tumble

President Donald Trump is doubling down connected his arguable tariffs programme and has called connected Americans to "hang tough" amid banal marketplace turmoil implicit the past fewer days. 

Trump, successful a station connected Truth Social Saturday morning, wrote that his program is already moving with trillions of dollars already being poured into the U.S. economy.

"We are bringing backmost jobs and businesses similar ne'er before. Already, much than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN," Trump wrote. 

President Donald Trump is doubling down connected his arguable tariffs programme and has called connected Americans to enactment the people amid banal marketplace turmoil implicit the past fewer days. (Andrew Harnik/Getty Images)

HERE'S WHAT TRUMP IS REALLY UP TO WITH HIGH-STAKES TARIFF GAMBIT

This week's steep losses for the S&P 500 and the Nasdaq were among the worst successful the past decennary arsenic stocks tumbled for a 2nd time successful a row. On Friday, the Dow Jones Industrial Average plunged 2,231.07 points, oregon 5.5%, portion the S&P 500 and Nasdaq Composite fell 5.97% and 5.82%, respectively. The Nasdaq entered into carnivore marketplace territory connected Friday.

Trump implemented a 10% baseline tariff connected each imported goods into the United States portion immoderate countries were slapped with higher tariffs.

But Trump remains defiant that his program volition enactment successful the agelong word arsenic helium aims to trim America's commercialized shortage with different countries, support American industries and bolster jobs by encouraging companies to determination manufacturing backmost to the U.S.

"HANG TOUGH, it won’t beryllium easy, but the extremity effect volition beryllium historic," Trump wrote. "We will, MAKE AMERICA GREAT AGAIN!!!" Trump wrote. 

Trump took purpose astatine China aft the communist state clapped backmost to Trump’s Liberation Day tariff announcement with a reciprocal 34% tariff connected U.S. imports.

"China has been deed overmuch harder than the USA, not adjacent close," Trump wrote. "They, and galore different nations, person treated america unsustainably badly. We person been the dumb and helpless "whipping post," but not immoderate longer."

Trump’s 34% tariffs announced against China connected Wednesday come successful summation to the 20% tariffs already imposed against the country.

Trump implemented a 10% baseline tariff connected each imported goods into the United States portion immoderate countries were slapped with higher tariffs. (Demetrius Freeman/The Washington Post via Getty Images)

HOW WE GOT TO LIBERATION DAY: A LOOK AT TRUMP'S PAST COMMENTS ON TARIFFS

"China played it wrong, they panicked — the 1 happening they cannot spend to do," Trump wrote Friday connected Truth Social.

The backmost and distant has raised concerns astir a planetary commercialized warfare and imaginable recession.

The caller Chinese tariffs against the U.S. volition spell into effect connected April 10, according to The Wall Street Journal.

Companies who merchantability their goods to China were deed hard connected Friday, including those successful aerospace, agriculture and dense equipment.

Some of Thursday’s biggest losers — banks, airlines and exertion companies — sank again connected Friday. Others, specified arsenic retailers, covering and restaurants, were down but not astir arsenic bad. A handful, similar Nike, adjacent posted tiny gains connected Friday.

A tv broadcasts marketplace quality connected the level of the New York Stock Exchange (NYSE) successful New York, US, connected Friday, April 4, 2025. The S&P 500 slumped 5.97% connected Friday, closing retired its worst week since COVID. (Michael Nagle/Bloomberg via Getty Images)

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The alleged Magnificent 7 stocks that person dominated the marketplace the past fewer years had immoderate of the heaviest losses. Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla person mislaid astir $1.8 trillion successful marketplace worth combined successful the past 2 days.

Meanwhile, a blimpish ineligible radical is challenging President Trump's tariffs connected China, calling them "an unlawful attempt" to marque Americans wage higher taxes connected Chinese imports. 

The Fox Business squad and The Associated Press contributed to this report.