Washington DC [US], April 7 : With stock markets globally taking a plunge due to his tariff decisions and the US stocks also feeling the impact, US President Donald Trump on Monday urged people not to be "weak, stupid" and said they should be "courageous and patient" and the result "will be greatness".
Trump made the remarks on his social media platform Truth Social, minutes before US stock markets opened.
"The United States has a chance to do something that should have been done DECADES AGO. Don't be Weak! Don't be Stupid! Don't be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!" he said.
"Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don't take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other "things." It all has to change, but especially with CHINA!!!" he said in another post.
In keeping with the turmoil in global markets following President Donald Trump's tariff decisions, the US markets also witnessed a bloodbath as it opened on Monday morning.
Trump's reciprocal tariffs have led to a broad-based fall in financial markets globally with indices plunging in Asia as well as Europe. The reciprocal tariffs have set off a sell-off in equities globally, and the US itself is no exception. Investors fear that the moves concerning global trade may raise inflation, risking economic growth.
US benchmark indices - Nasdaq, S&P, and Dow Jones, slumped in a range of 4-5 per cent soon after the opening bell.
In an earlier post, Trump said the United States is bringing in billions of dollars a week from "the abusing countries on tariffs that are already in place"
"Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place," he said.
"This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate. They've made enough, for decades, taking advantage of the Good OL' USA! Our past "leaders" are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!" he added.
Asian stock markets witnessed a major sell-off and European markets also witnessed a plunge due to Trump's decisions concerning tariffs.
Asian stock markets opened on Monday with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth.Japan's Nikkei 225 index dropped sharply by 5.79 per cent, leading the decline across the region.
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