WASHINGTON, D.C. – President Donald Trump has officially put into action a 10% baseline tariff on all imports into the United States, as part of what he calls an “economic revolution” aimed at boosting domestic manufacturing. While he encouraged Americans to “hang tough,” Trump was also seen golfing for the second day in a row in Florida.
The new tariff policy, announced earlier this week, took effect Saturday at 12:01 a.m. EDT, with additional higher tariffs targeting major trade partners like China and the European Union expected to begin on April 9.
Stock Market Reacts to Tariff Announcement
Financial markets reacted sharply to the news, with the Dow Jones plunging 9.2%, the S&P 500 falling 10.5%, and the Nasdaq dropping 11.4%. Investors expressed concern about a possible global trade war and its impact on the economy.
Despite the stock market dip, Trump remained firm in his approach, posting on Truth Social:
“THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic.”
Steep Tariffs on China and Global Partners
The Trump administration’s baseline 10% tariff applies to all imports, but additional “reciprocal tariffs” will target nations that place higher tariffs on U.S. exports. China, in particular, will face a 34% tariff, which is on top of an earlier 20% tariff, bringing the total to 54% on Chinese goods.
Trump defended these actions, stating that the U.S. has been “treated unsustainably badly” by trading partners. He claimed:
“China has been hit much harder than the USA, not even close… We have been the dumb and helpless ‘whipping post,’ but not any longer.”
China Strikes Back With Matching Tariffs
In response, China announced retaliatory tariffs, also 34% on all U.S. imports, setting the stage for a heated global trade conflict.
Analysts warn that the ongoing tit-for-tat measures could hurt businesses, consumers, and global supply chains, especially as both economic giants continue to escalate.
Protests Across the U.S.
As Trump’s new tariff rules went into effect, more than 1,000 “Hands Off” protests were held across the United States, including large gatherings in Washington, D.C. Protesters criticized Trump’s policies, saying they hurt American families and strain international relationships.
Trump Spotted at Golf Club Amid Economic Storm
While Americans protested and markets struggled, Trump was seen playing golf at his Trump National Golf Club in Jupiter, Florida, just north of Mar-a-Lago. According to the White House, he was participating in a senior championship and won his second round, advancing to the championship round on Sunday.
He also played at Trump International Golf Club West Palm Beach on Friday, and had attended a dinner at Trump Doral on Thursday, ahead of the LIV Golf Tournament.