Former President Barack Obama has broken his silence following Donald Trump’s explosive new trade policy—an aggressive tariff rollout that has sent shockwaves through global markets.
📸 Trump announces new tariffs – Getty Images / Chip Somodevilla
On April 2, 2025—what Trump dramatically dubbed “Liberation Day”—the former president revealed a sweeping set of tariffs: a blanket 10% on all imports, with punishing surcharges for 60 countries labeled the “worst offenders.”
Countries hit hardest include:
- Vietnam at 46%
- South Africa at 30%
- Japan at 24%
- China, which now faces a staggering 54% total effective tariff
Speaking from the White House Rose Garden, Trump proclaimed,
“April 2, 2025, will forever be remembered as the day American industry was reborn… the day we began to Make America Wealthy Again.”
But the market’s response was brutal.
📉 The Dow plunged 5.5%
📉 The S&P 500 dropped 6%
📉 The Nasdaq officially entered bear market territory
Investors panicked over fears of higher consumer prices, disrupted supply chains, and a looming recession.
📸 Donald Trump reacts – Getty Images / Andrew Harnik
Meanwhile, Obama offered a calm but cutting critique during a visit to Hamilton College in Clinton, NY. He didn’t hold back, expressing concern about both Trump’s economic agenda and what he sees as the erosion of democratic norms.
“I have deep differences of opinion with my most immediate successor — who’s now president once again,” Obama said.
“I don’t think what we just witnessed in terms of economic policy and tariffs is going to be good for America.”
He then delivered a powerful eight-word message that instantly made headlines:
“Imagine if I had done any of this?”
Obama continued, warning of an increasingly authoritarian tone from the Trump administration. He highlighted recent efforts to pressure universities and law firms, saying:
“I’m more troubled by a White House that threatens institutions for doing their jobs or defending unpopular people.”
📸 Barack Obama speaks – Getty Images / Spencer Platt
Senate Minority Leader Chuck Schumer echoed Obama’s alarm, describing Trump’s tariff approach as reckless:
“The business community is totally nervous… it’s erratic. This could absolutely cause a recession.”
And the backlash has already begun. In retaliation, China has announced a 34% tariff on all U.S. imports, effective April 10. Their finance ministry slammed Trump’s move as
“a typical unilateral bullying practice… that threatens the global economic order.”