Donald Trump Blasted For Wiping TRILLIONS Off Global Stock Markets as Investors Run For Hills Amid 'China Economic Cold War'
Donald Trump has been blasted for wiping trillions off global markets — but stands by his decision, despite backlash.
April 11 2025, Published 12:59 p.m. ET
Donald Trump has been blasted for wiping trillions off global stock markets after the White House confirmed tariffs on China would rocket to 145 percent.
RadarOnline.com can reveal investors fear financial turbulence between the two economic powerhouses in the midst of their trade war and have run for the hills.
Trump claims his economic war on China is 'going well', despite huge U.S. companies including Apple and Microsoft suffering heavy losses.
But despite the backlash he's receiving, the President insists his economic battle is "going very well."
All U.S. stock markets suffered, with the S&P 500 down 4.5 percent, the Nasdaq 5.25 percent, and the Dow Jones 3.67 percent.
U.S. giants Apple, Facebook's Meta, Tesla and Microsoft all suffered heavy losses.
Trump admitted "there will be a transition cost and transition problems" to his tariffs before insisting "in the end it’s going to be a beautiful thing."
On Wednesday, Trump bowed to the pressures of a bond market rout and paused tariffs for 90 days on the rest of the world, sparking an almighty rally on Wall Street.
Trump has been mocked in A1 videos showing him on the producution line of a Nike factory.
However, markets went into reverse again last night after the White House clarified the 125 percent tariffs on China were on top of a 20 percent already imposed for its supposed role in supplying fentanyl, a drug ravaging America.
China had already retaliated with whopping 84 percent tariffs before calling for dialogue "on the basis of mutual respect."
It added: "If you want to fight, China will fight to the end. Pressure, threats and blackmail are not the right way to deal with China."
At the same time, AI videos purporting to show Trump, Elon Musk and Vice President J.D. Vance in blue overalls and goggles on a production line making Nike trainers flooded social media
The President argued his tariffs were necessary because of China's 'crazy' $1trillion trade surplus.
The videos were designed to mock the president’s claims that his tariffs will lead to companies bringing back factories to the U.S.
Another showed a Make America Great Again hat with a "Made in China" tag and marked up in price.
Trump argued yesterday that his tariffs were necessary because of China's "crazy" $1trillion trade surplus.
He added that some countries he had targeted with tariffs "didn't have surpluses, but they hurt us in other ways".
He also gave rare praise to the EU after it suspended retaliatory 25 percent tariffs.
The President said: "They saw what we did to China, and they were very smart, they held back.
"The EU is very smart, but they have been taking advantage of us."
Before pausing tariffs, Trump joked at a Republican Party event that countries were "kissing my ass" to hold trade deal talks.
Secretary of Commerce Howard Lutnick claimed Trump's tariffs had resulted in countries "coming with offers they would have never come with."
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Trump praised the E.U. for suspending retaliatory 25 per cent tariffs before making the dig ,'they have been taking advantage of us.'
He said: "We'll be announcing historic deals one after the other."
Treasury Secretary Scott Bessent said 75 countries wanted to travel to Washington to negotiate and that Trump would be directly involved in any deals.
Trump said if agreements weren’t possible, "then we go back to where we were."
To add to the wild uncertainty, he said he would not consider any exceptions "for any country or company . . . (but) it's possible that I would."
