Obama Breaks Silence on Trump’s Controversial Tariffs as Markets Plunge
Former President Barack Obama has finally weighed in on Donald Trump’s aggressive new tariff policy, unveiled amid mounting market uncertainty.
On April 2, 2025, Trump declared what he called “Liberation Day,” announcing a sweeping 10% tariff on all imports — with much harsher rates hitting 60 countries labeled as “worst offenders.” The new tariffs hit Japan at 24%, South Africa at 30%, Vietnam at a staggering 46%, and China bearing a punishing 34%, pushing its total tariff burden to an eye-watering 54%.
Standing confidently in the White House Rose Garden, Trump proclaimed:
“April 2, 2025, will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to ‘Make America Wealthy Again.’”
He didn’t hold back: “For decades, our country has been looted, pillaged, raped, and plundered by nations near and far — from friends and foes alike.”
As the markets reel from the shockwaves, Obama’s candid response underscores the high stakes in this unfolding economic battle.
Market Meltdown: Dow Drops 5.5%, Nasdaq Hits Bear Market Amid Economic Turmoil
In the immediate aftermath, financial markets plunged into chaos. The Dow Jones Industrial Average crashed 5.5%, the S&P 500 tumbled 6%, and the Nasdaq Composite officially entered bear market territory—sending shockwaves through investors nationwide.
Fears are mounting over soaring costs for businesses and consumers, sparking widespread concern about an impending recession.
Former President Barack Obama weighed in during a major speech at Hamilton College in New York, delivering a sharp critique of the current administration’s economic policies.
Obama stated:
“I have deep differences of opinion with my most immediate successor — who’s now president once again.”
He warned:
“What we just witnessed in terms of economic policy and tariffs is not good for America.”
Obama also voiced alarm over what he described as an erosion of free speech and justice, condemning threats by the federal government toward universities and legal firms:
“I’m more deeply concerned with a federal government that threatens universities if they don’t give up students exercising free speech…
and a White House that threatens law firms for representing clients it dislikes.”
He concluded with a pointed eight-word challenge:
“Imagine if I had done any of this?”
Meanwhile, Senate Minority Leader Chuck Schumer blasted the current tariff strategy, warning it risks tanking the U.S. economy.
Schumer said:
“The business community is totally nervous. Recession risks spike when businesspeople lack certainty—especially with erratic policies and China’s retaliatory moves.”
China Strikes Back: Hits U.S. with Massive 34% Retaliatory Tariff on All Imports
In a bold move escalating the trade war, China announced a sweeping 34% retaliatory tariff on all U.S. imports, effective April 10.
The Chinese Ministry of Finance slammed the U.S. tariffs as “unilateral bullying” and “a blatant violation of international trade rules.” Officials warned these aggressive measures threaten the stability of the global economic and trade order, signaling deepening tensions between the world’s two largest economies.