“They Played It Wrong, Panicked”: Trump Taunts China Amid Escalating Global Tariff War

As markets plunge and global tensions rise, Trump doubles down on his tariff offensive, dismissing China’s retaliation and urging Americans to “get rich.”

April 4, 2025: In a fiery post on Truth Social, former US President Donald Trump lashed out at China on Friday, accusing Beijing of “panicking” in response to his sweeping new tariff regime. Calling their retaliation a “mistake,” Trump claimed the escalating trade war was an opportunity for Americans to “get rich, richer than ever before.”

Also Read: Global Markets Tumble as Trump Tariffs Trigger Trade War Fears, China Strikes Back

“CHINA PLAYED IT WRONG, THEY PANICKED — THE ONE THING THEY CANNOT AFFORD TO DO!” Trump wrote in all caps from his Florida golf course retreat.

Markets worldwide told a different story. Wall Street saw another brutal day, with the Dow Jones and S&P 500 tumbling nearly 3% each. European indices like Frankfurt and London were down more than 4%, while Tokyo’s Nikkei dropped 2.8%.

Also Read: Wall Street Crashes in Global Market Meltdown as Trump Defends Tariffs: “It’s Going To Be Amazing”

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🔁 China’s Strong Response

China announced new tariffs of 34% on American imports effective April 10, a move coupled with a WTO lawsuit and export restrictions on rare earth elements—materials crucial to US tech and medical sectors.

Despite the economic fallout, Trump stood firm:

“My policies will never change. This is a great time to get rich.”

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🌍 Global Fallout & Diplomatic Pushback

• The European Union, slapped with a 20% tariff, is considering countermeasures.
• EU Trade Chief Maros Sefcovic said the bloc seeks a “unified and calm response,” but won’t hesitate to act.
• France and Germany floated taxing US tech giants as a form of retaliation.

In Japan, Prime Minister Shigeru Ishiba urged a “calm-headed” approach, while automakers like Nissan and Volvo Cars began revising US operations to cope with the new trade landscape.

Also Read: Canada Hits Back: PM Mark Carney Imposes 25% Tariffs on U.S. Auto Imports Amid Trade Spat

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🚗 Auto Industry Disruption

New 25% US tariffs on all foreign cars sparked immediate backlash:

• Canada implemented a reciprocal tax.
• Stellantis (Jeep, Chrysler, Fiat) paused North American production.
• Nissan pulled two models from US markets.
• Volvo, in contrast, announced plans to expand US manufacturing.

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🧨 Political Repercussions

Even some of Trump’s Republican allies expressed concern, citing rising costs for American consumers. But Commerce Secretary Howard Lutnick brushed aside criticism:

“Let Donald Trump run the global economy. He knows what he’s doing,” he declared on CNN.

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⏳ What’s Next?

As the world scrambles to navigate the economic aftershocks of Trump’s latest trade blitz, tensions continue to escalate. With the WTO, EU, and **China

🏷️ Tags:
Donald Trump, China tariffs, US-China trade war, global stock market crash, rare earth exports, WTO, EU trade retaliation, Trump Truth Social, international economics, global recession fears, US economy, car tariffs, Biden vs Trump 2025, trade policy