By Gage Skidmore from Surprise, AZ, United States of America - Donald Trump, CC BY-SA 2.0
On Saturday, April 5, US President Donald Trump claimed that China is experiencing greater hardships than the United States as a result of the ongoing trade conflict initiated by tariffs implemented during his administration.
“China has been impacted far more severely than the USA, not even close,” Trump stated on Truth Social. “They, along with numerous other countries, have treated us unsustainably poorly. We have been the foolish and defenseless ‘whipping post,’ but that is no longer the case.”
These comments followed a significant drop in US stock markets the day before, which raised fears of a potential global economic downturn. Despite this, Trump defended his administration’s assertive trade policies, asserting that they are crucial for protecting American jobs and stimulating domestic investment.
“We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and it’s increasing rapidly! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH; it won’t be easy, but the outcome will be historic. We will MAKE AMERICA GREAT AGAIN,” he added.
In the context of the US-China trade war, tensions escalated this week after China announced new tariffs on American goods. Effective April 10, a new 34 percent tariff will be imposed on all US imports, in addition to existing tariffs, as stated by China’s finance ministry.
In response to the US tariff hikes, China’s foreign ministry declared that it would continue to take decisive measures to protect its economic interests. “The US should cease using tariffs as a tool to suppress China’s economy and trade, and stop undermining the legitimate development rights of the Chinese people,” the ministry remarked.
The Trump administration has raised tariffs on Chinese imports by an additional 34 percent, bringing the total tariff rate for this year to 54 percent.
These measures are part of a broader strategy to redefine trade relations with various US partners. Notably, Trump has also declared a 26 percent tariff on imports from India, which is only half of the tariff rate that India imposes on US goods.
Nevertheless, escalating trade tensions between the two largest economies, the US and China, have intensified concerns among investors regarding possible risks to global economic growth.
