On Saturday, President Donald Trump encouraged Americans to “hang tough” as his 10% baseline tariffs on imports from all U.S. trading partners went into effect. Despite the market’s sharp drop following the announcement of the tariffs on Wednesday — with the Dow falling 9.2%, the S&P 500 down 10.5%, and the Nasdaq plummeting 11.4% — Trump took to Truth Social, calling it “an economic revolution” and promising historic results. “It won’t be easy, but the end result will be historic,” he said.
The Trump administration’s 10% minimum tariff applies to all imports, with higher reciprocal tariffs targeting major trading partners like China and the European Union. These baseline tariffs began on Saturday, while reciprocal tariffs will be implemented starting April 9. Trump has defended the tariffs as essential for revitalizing America’s manufacturing sectors and leveling the playing field against nations that impose tariffs on U.S. exports. Notably, China now faces a 54% tariff, combining the newly imposed 34% tariff and the existing 20%.
In response, China imposed its own 34% tariffs on U.S. imports. Trump claimed that China and other nations have long mistreated the U.S., and he emphasized the tariffs’ role in bringing back American jobs and businesses.
While the trade tensions escalated, Trump spent his Saturday at the Trump National Golf Club in Jupiter, Florida, playing in a senior championship. This came amid widespread protests against his tariffs, with over 1,000 “Hands Off” demonstrations occurring nationwide.
Trump’s golf outing on Saturday followed a similar one on Friday and a dinner visit to Trump Doral earlier in the week. After his round, the White House announced that Trump advanced to the championship round.
