US President Donald Trump on Saturday doubled down on the sweeping tariffs he unleashed on countries around the world, warning Americans of pain ahead, but promising historic investment and prosperity.
The comments came as Trump’s widest-ranging tariffs took effect in a move that could trigger retaliation and escalating trade tensions that could upset the global economy.
“We have been the dumb and helpless ‘whipping post,’ but not any longer. We are bringing back jobs and businesses like never before,” Trump wrote on his Truth Social platform.
“This is an economic revolution, and we will win,” he added. “Hang tough, it won’t be easy, but the end result will be historic.” Protests against Trump rocked cities across the world.
A 10 per cent “baseline” tariff came into place just after midnight, hitting most US imports except goods from Mexico and Canada as Trump invoked emergency economic powers to address perceived problems with the country’s trade deficits. The trade gaps, said the White House, were driven by an “absence of reciprocity” in relationships and other policies like “exorbitant value-added taxes.”
Come April 9, around 60 trading partners – including the European Union, Japan and China – are set to face even higher rates tailored to each economy. Already, Trump’s sharp 34-per cent tariff on Chinese goods, set to kick in next week, triggered Beijing’s announcement of its own 34-per cent tariff on US products from April 10.
Beijing also said it would sue the United States at the World Trade Organization (WTO) and restrict the export of rare earth elements used in high-end medical and electronics technology.
“China has been hit much harder than the USA, not even close,” Trump said in his post.
“They, and many other nations, have treated us unsustainably badly.”
But other major trading partners held back as they digested the unfolding international standoff amid fears of a recession.
US-EU TRADE: Musk said on Saturday that he hoped in future to see complete freedom of trade between the United States and Europe.
“At the end of the day, I hope it’s agreed that both Europe and the United States should move ideally, in my view, to a zero tariff situation, effectively creating a free trade zone between Europe and North America,” Musk said.
PROTESTS ACROSS US: Some 1,200 demonstrations are planned across the US on Saturday in what organizers expect to be the largest single day of protest against President Donald Trump and his billionaire ally Elon Musk since the administration launched its rapid-fire effort to put a conservative stamp on government.
The “Hands Off!” protests will give Trump opponents an opportunity to demonstrate their displeasure en masse in response to Trump’s sweeping makeover of U.S. foreign and domestic policy through executive orders.
“This is an enormous demonstration that is sending a very clear message to Musk and Trump and congressional Republicans and all the goose-stepping allies of MAGA that we don’t want their hands on our democracy, on our communities, on our schools and our friends and our neighbours,” said Ezra Levin, co-founder of Indivisible, one of the groups organizing Saturday’s events.
The White House did not immediately respond to a request for comment from Trump or Musk.
Some 150 activist groups have signed up to participate, according to the event’s website.
Events are planned in all 50 states plus Canada, Britain, France, Germany, Mexico and Portugal. One of the biggest rallies is expected on Washington’s National Mall.
RALLIES IN EUROPEAN CITIES: Hundreds of people protested in European cities on Saturday against Trump and Musk.
In the German city of Frankfurt, the “Hands Off!” demonstration was organised by Democrats Abroad, the official organisation of the Democratic Party for US citizens living overseas.
In Berlin, protesting in front of a Tesla showroom, demonstrators held placards calling on fellow Americans living in Germany to protest for “an end to the chaos” at home.
In the French capital of Paris, about 200 people, mostly American, gathered on the Place de la République to protest against Trump. Some gave speeches to denounce the president, with protesters waving banners ranging from “Resist Tyrant”, “Rule of Law” “Feminists for Freedom not fascism” and “Save Democracy”. One sang and played the Bob Dylan song Masters of War.
In the British capital, a few hundred people gathered in Trafalgar Square, holding signs saying “Proud American Ashamed” and “WTAF America?” The crowd chanted “Hands off Canada”, “Hands off Greenland” and “Hands off Ukraine” while listening to speeches criticising Trump.
SHIPMENTS PAUSED: The maker of Jaguar and Land Rover cars is pausing shipments to the US as Britain’s struggling auto industry begins to respond to the 25% tax on vehicle imports imposed by President Donald Trump.
Jaguar Land Rover Automotive, one of Britain’s biggest carmakers, said on Saturday that the pause would take place this month.
Agencies
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