Washington D.C., April 7, 2025 — Former U.S.
President Donald Trump has once again stoked tensions in the ongoing
trade dispute between the United States and China, calling the Asian superpower
the "biggest abuser" in global trade and boasting that its financial
markets are reeling under pressure from American-imposed tariffs.
In a strongly worded post on his platform TruthSocial,
Trump claimed the United States is reaping economic rewards through its tariff
policy, which, according to him, is bringing in “billions of dollars a week”
from countries that have long taken advantage of the U.S.
“Oil prices are down, interest rates are down (the slow
moving Fed should cut rates!), food prices are down, there is NO INFLATION,”
Trump posted. “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 further asserted that China’s markets are ‘crashing’
following recent economic measures and retaliatory duties. Trump’s remarks come
after China raised tariffs on American imports by 34%, in response to
the United States imposing 54% duties on Chinese goods.
Retaliation Sparks Fresh Wave of Economic Uncertainty
In a tit-for-tat move, the Chinese government
announced higher tariffs on key U.S. goods, worsening tensions between the
world’s two largest economies. According to Chinese state media, the Beijing
and Shanghai stock markets took a hit following the announcement, raising
concerns over the broader impact of the trade war.
Despite the downturn, The People's Daily, a
mouthpiece of the Chinese Communist Party, sought to project confidence.
“The sky won’t fall. Faced with the indiscriminate punches
of US taxes, we know what we are doing, and we have tools at our disposal,” the
editorial read, implying that China would withstand the pressure and continue
to focus on long-term economic strategy.
Trump Criticizes Past U.S. Leadership
True to his style, Trump did not hold back from criticizing
his predecessors. He accused former presidents, including Joe Biden, of
allowing the U.S. to be financially exploited by foreign governments through
one-sided trade policies.
“They’ve made enough, for decades, taking advantage of the
Good Ol’ USA,” Trump said, blaming past administrations for the economic
imbalance and asserting that his tough stance is a necessary correction.
His comments come as part of a larger campaign narrative
focused on “America First” trade policies, which were central to his
2016 and 2020 campaigns and are now reemerging as he eyes a return to power in
the 2024 elections.
China Reaches Out to U.S. Firms Amid Tensions
While rhetoric from both sides intensifies, Chinese
officials held a closed-door meeting with representatives from over 20
American companies, including Tesla, over the weekend. According to Reuters,
the discussion revolved around maintaining stability in global supply chains
and reducing economic disruptions caused by the trade war.
Meanwhile, China’s foreign affairs ministry has condemned
the U.S. tariffs as “economic bullying” and accused Washington of unilateralism
and protectionism. The escalating trade battle now threatens not only bilateral
ties but also global economic stability, with ripple effects
expected across international markets.
What’s Next?
With both sides refusing to back down, the tariff war shows
no signs of easing. While Trump maintains that the U.S. is winning, economists
warn that prolonged trade tensions could hurt consumers, disrupt
industries, and impact global supply chains.
As markets await further developments, businesses and
governments around the world are watching closely, bracing for the next chapter
in this high-stakes economic showdown.