On Monday, President Trump responded to criticism of his tariff policy by urging Americans to remain calm and patient, while coining a new term—“panican”—to describe those who panic easily.
“The U.S. now has the chance to correct something that should have been done decades ago,” he wrote on Truth Social. “Don’t be weak or stupid. Don’t be a PANICAN (a group made up of the weak and stupid). Be strong, brave, and patient, and you’ll see greatness!”
Trump claimed his tariff strategy would prevent other nations from exploiting the U.S., imposing a 10% tariff on trade partners and even steeper rates on several other countries. He argued that key economic indicators were improving—oil and food prices were down, inflation was nonexistent, and tariffs were generating billions of dollars weekly.
He took a direct shot at China, calling it the “biggest abuser” and criticizing its retaliatory 34% tariff hike. Trump blamed previous administrations for enabling decades of unfair trade practices.
The administration has been on the defensive since announcing the new tariffs last week, which triggered stock market declines and sparked fears of a recession. Trump said Sunday that tariffs were a core reason he was elected and predicted they would earn the U.S. $1 trillion by next year.
Despite Trump’s optimism, critics are sounding the alarm. Billionaire investor Bill Ackman warned that the tariffs could collapse the economy and harm Trump’s own base the most. CNBC’s Jim Cramer cautioned that sticking to the plan could result in a market crash similar to 1987’s Black Monday.
The sweeping tariffs, affecting nearly all exporting countries, raised concerns about rising consumer prices. Still, the White House maintains that the plan will lead to more American jobs and urges skeptics to trust Trump. The Dow Jones responded harshly, plunging 1,500 points shortly after opening Monday, continuing a steep drop that began late last week.
