WASHINGTON – On Saturday, President Donald Trump urged Americans to “hang tough” and played golf for the second day in a row as his baseline 10% tariffs on imports from all US trading partners went into effect.
Following the announcement of the massive tariffs on Wednesday, the US stock market plummeted, with the Dow Jones industrial average losing 9.2%, the S&P 500 falling 10.5%, and the tech-heavy Nasdaq tumbling 11.4%.
“THIS IS AN ECONOMIC REVOLUTION; WE WILL WIN. “Hang tough, it will not be easy, but the end result will be historic,” Trump said on Truth Social Saturday morning.
The Trump administration imposed a 10% minimum tariff on all imports into the country, as well as higher reciprocal tariffs on the United States’ largest trading partners, including China and the European Union. The baseline tariff went into effect at 12:01 a.m. EDT Saturday, and reciprocal tariffs will begin on April 9.
Trump argues that higher tariffs are necessary to revitalize America’s declining domestic manufacturing sectors and level the playing field with other countries that also impose tariffs on US exports.
They include a 34% tariff on chief rival China, in addition to recently imposed 20% tariffs on Chinese goods, resulting in a 54% tariff on Chinese imports.
China responded to Trump’s tariffs on Friday by imposing reciprocal 34% tariffs on all imports from the United States, escalating the global trade war.
“China has been hit much harder than the USA, not even close,” Trump said in a social media post on Saturday. “They, like many other nations, have treated us in an unsustainable way. We used to be the dumb and helpless ‘whipping post,’ but not anymore. “We are reviving jobs and businesses like never before.”
Trump shared the Truth Social post shortly before competing in a senior championship at the Trump National Golf Club in Jupiter, Florida, north of his Mar-a-Lago estate in Palm Beach, Florida. His appearance coincided with over 1,000 “Hands Off” protests across the country, including in Washington, D.C., to express dissatisfaction with Trump’s presidency.
Trump also played golf on Friday at the Trump International Golf Club in West Palm Beach, and on Thursday, he went to Trump Doral for a dinner before the LIV Golf Tournament.
Following Saturday’s round, the White House issued a statement saying: “The President won his second round matchup of the Senior Club Championship today in Jupiter, FL, and advances to the Championship Round tomorrow.”
