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Trump urges Americans to ‘hang tough’ on tariffs plan as markets tumble
President Donald Trump is doubling down on his controversial tariffs program and has called on Americans to «hang tough» amid stock market turmoil over the last few days.
Trump, in a post on Truth Social Saturday morning, wrote that his plan is already working with trillions of dollars already being poured into the U.S. economy.
«We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN,» Trump wrote.
President Donald Trump is doubling down on his controversial tariffs program and has called on Americans to stay the course amid stock market turmoil over the last few days. (Andrew Harnik/Getty Images)
HERE’S WHAT TRUMP IS REALLY UP TO WITH HIGH-STAKES TARIFF GAMBIT
This week’s steep losses for the S&P 500 and the Nasdaq were among the worst in the past decade as stocks tumbled for a second day in a row. On Friday, the Dow Jones Industrial Average plunged 2,231.07 points, or 5.5%, while the S&P 500 and Nasdaq Composite fell 5.97% and 5.82%, respectively. The Nasdaq entered into bear market territory on Friday.
Trump implemented a 10% baseline tariff on all imported goods into the United States while some countries were slapped with higher tariffs.
But Trump remains defiant that his plan will work in the long term as he aims to reduce America’s trade deficit with other countries, protect American industries and bolster jobs by encouraging companies to move manufacturing back to the U.S.
«HANG TOUGH, it won’t be easy, but the end result will be historic,» Trump wrote. «We will, MAKE AMERICA GREAT AGAIN!!!» Trump wrote.
Trump took aim at China after the communist country clapped back to Trump’s Liberation Day tariff announcement with a reciprocal 34% tariff on U.S. imports.
«China has been hit much harder than the USA, not even close,» Trump wrote. «They, and many other nations, have treated us unsustainably badly. We have been the dumb and helpless «whipping post,» but not any longer.»
Trump’s 34% tariffs announced against China on Wednesday come in addition to the 20% tariffs already imposed against the country.
Trump implemented a 10% baseline tariff on all imported goods into the United States while some countries were slapped with higher tariffs. (Demetrius Freeman/The Washington Post via Getty Images)
HOW WE GOT TO LIBERATION DAY: A LOOK AT TRUMP’S PAST COMMENTS ON TARIFFS
«China played it wrong, they panicked — the one thing they cannot afford to do,» Trump wrote Friday on Truth Social.
The back and forth has raised concerns about a global trade war and possible recession.
The new Chinese tariffs against the U.S. will go into effect on April 10, according to The Wall Street Journal.
Companies who sell their goods to China were hit hard on Friday, including those in aerospace, agriculture and heavy equipment.
Some of Thursday’s biggest losers — banks, airlines and technology companies — sank again on Friday. Others, such as retailers, clothing and restaurants, were down but not nearly as bad. A handful, like Nike, even posted small gains on Friday.
A television broadcasts market news on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, April 4, 2025. The S&P 500 slumped 5.97% on Friday, closing out its worst week since COVID. (Michael Nagle/Bloomberg via Getty Images)
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The so-called Magnificent 7 stocks that have dominated the market the past few years had some of the heaviest losses. Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla have lost around $1.8 trillion in market value combined in the past two days.
Meanwhile, a conservative legal group is challenging President Trump’s tariffs on China, calling them «an unlawful attempt» to make Americans pay higher taxes on Chinese imports.
The Fox Business team and The Associated Press contributed to this report.
Global Economy,Donald Trump,China,Economy,Politics,US,Trade,Tesla,Amazon,Facebook
INTERNACIONAL
Hamas reasserts control in Gaza as Iran war dominates regional attention and global focus
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As the war with Iran dominates the region’s attention, Hamas is quietly reasserting control inside Gaza, according to videos and photos circulating on social media. An Israeli analyst and a Gazan political commentator say the developments raise fresh doubts about whether postwar plans for the enclave can move forward anytime soon.
Michael Milshtein, a senior analyst at the Dayan Center at Tel Aviv University, said Hamas has used the past two and a half weeks not only to rehabilitate militarily but to project visible control in public life.
«They are really making good use of them to establish their power in the public sphere, not just for military rehabilitation,» Milshtein said, describing what he said were new recruits, police deployments and even parades in central Gaza. «Hamas is here to stay.»
TRUMP LAUNCHES PHASE 2 OF GAZA PEACE PLAN — BUT HAMAS DISARMAMENT REMAINS THE REAL TEST
Hamas terrorists stand in formation as Palestinians gather on a street to watch the handover of three Israeli hostages to a Red Cross team in Deir el-Balah, central Gaza, on Feb. 8, 2025. (Majdi Fathi/NurPhoto via Getty Images)
He said Gazans have reported that Hamas is also rebuilding the machinery of governance. «Their police are everywhere,» he said. «They are also improving their taxation system.» During Ramadan, he added, Hamas personnel were checking markets and mosques and «starting to build education systems.»
Mukhaimer Abu Saada, a Gazan political analyst, agrees momentum around postwar Gaza planning has largely stalled since the Iran war escalated.
«Everything with regard to Gaza has been put on hold,» Abu Saada told Fox News Digital. Before the regional war erupted, he said, developments had been «moving in the right direction,» including work around the Board of Peace, the Gaza Technical Committee and discussions tied to a possible international stabilization force.
«Yes, Hamas has taken advantage of the current situation,» Abu Saada said. «They are not under the pressure that they were before.»
Both analysts pointed to the same broad dynamic: as attention shifted to Iran, pressure on Hamas eased.
Abu Saada said that before the war, there had been what he described as serious discussions about disarmament, the deployment of an international force and Gaza’s political future. But «the enthusiasm that preceded the war has come down,» he said, adding that Gaza has been pushed to the «back burner.»
«When I talk to Palestinians, they tell me, ‘Listen, we are actually already waiting for the day after the war,’» Milshtein said. He said some expect Netanyahu to become «very indebted to Trump because of the war in Iran, and he will have to accept whatever dictates he has regarding Gaza.»
US SEEKS UN AUTHORIZATION FOR GAZA INTERNATIONAL FORCE LASTING THROUGH 2027 UNDER TRUMP PLAN
Terrorists in the central Gaza town of Deir al-Balah celebrate the ceasefire on Jan. 19, 2025. (TPS-IL)
At the center of that conversation is the prospect of an international stabilization force entering Gaza. But both men suggested Hamas may not see such a force as a threat.
Abu Saada said Hamas had «welcomed the deployment» of such a force and appears to view it as «restraining the Israeli army» rather than coming in «to disarm» the group. He said the possibility of troops from countries such as Indonesia may make such a deployment appear less threatening to Hamas, which could see it as a buffer against continued Israeli military operations.
Milshtein took that argument further, saying Hamas sees the model less as a peacekeeping mission than as a version of the Hezbollah-UNIFIL arrangement in Lebanon.
«Hamas says, ‘I have no problem, it will be like UNIFIL in Lebanon,’» Milshtein said. «Don’t even dream about starting to chase us, taking our weapons, and entering the tunnels. You need to protect us from Israel as well.»
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Hezbollah terrorists are taking part in cross-border raids, part of a large-scale military exercise, in Aaramta, bordering Israel, on May 21, 2023, ahead of the anniversary of Israel’s withdrawal from southern Lebanon in 2000. (Fadel Itani/NurPhoto via Getty Images)
Abu Saada said the next phase depends heavily on how the Iran war ends. If the Iranian regime survives and avoids collapse, he said, Hamas will draw encouragement from that outcome.
«If Iran is not defeated, if the Iranian regime is not collapsing, that’s going to be some kind of moral support for Hamas,» he said.
war with iran,hamas,terrorism,israel
INTERNACIONAL
Trump lawyer in Jack Smith case draws conservative backing after DOJ praise rattles ‘elite’ legal conference
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President Donald Trump’s former defense lawyer received swift backing from conservative legal figures online after facing pushback at a recent American Bar Association (ABA) conference for praising the Trump Department of Justice.
Attorney John Lauro, who defended Trump in special counsel Jack Smith’s 2020 election case, said the DOJ was «in a better place» under Trump, causing fellow panelists and audience members to shudder, according to a Bloomberg Law report of the event.
Lauro told Fox News Digital in a brief phone call on Monday that the event «was a highly triggered environment.»
«I called out the ABA and other elite legal organizations for not condemning the prior administration in holding political sham trials and show trials, particularly the one directed at President Trump, where the Biden administration wanted to put him on trial in 90 days, which is shorter than it takes for a traffic ticket to get worked through in D.C.,» Lauro said.
LABOR DEPARTMENT ORDERS LAWYERS TO CUT TIES WITH ABA, SLAMS GROUP AS ‘RADICAL’ ACTIVIST FORCE
President Donald Trump’s attorney John Lauro, left, speaks to the media at following his appearance at the U.S. District Court in Washington, D.C., Jan. 9, 2024. (Jabin Botsford/The Washington Post via Getty Images)
The tense panel put a spotlight on the Trump administration’s ongoing fight with the ABA as it spurred DOJ officials and lawyers to voice their disdain for the organization.
«The ABA is trash and I’m proud to never have been a member,» Civil Rights Division head Harmeet Dhillon said. «Its stunt trashing Judge [Robert] Bork did it for me.»
«As if we needed anymore proof of the absolute disgrace that is the ABA,» wrote Associate Deputy Attorney General Diego Pestana. «John Lauro, one of the best trial attorneys in the country and patriot, treated terribly for simply daring to voice a view contrary to the liberal white collar bar.»
Lauro said during the panel, held at a conference in San Diego, that he had «the unique experience of representing a political figure who was probably more abused by the criminal justice system in America than any other political figure ever.»
«Everything that has gone on in the current administration must be looked at from the eyes of a man who was victimized by the criminal justice system,» Lauro said.
Among those rallying behind Lauro was also Iowa Solicitor General Eric Wessan, who said the ABA «represents a hyperpartisan faction.»
«That’s fine! But they should play no role in law school accreditation (or judicial selection),» Wessan said.
Former DOJ official Jeff Clark, an un-indicted co-conspirator in the 2020 election case, called Lauro «a bold man of principle.»
WHO ARE THE 6 CO-CONSPIRATORS NAMED IN TRUMP’S JAN. 6 INDICTMENT? HERE’S WHAT WE KNOW
Another social media user, an anonymous Georgia-based legal commentator, said that while he disagreed with Lauro’s comments, he was «jealous» that Lauro «had the opportunity to tell a room of the type of haughty, effete defense lawyers who hang around at ABA conferences to go f— themselves. He should have taken it.»
Lauro’s remarks had elicited pushback from participants. Nancy Gertner, a Harvard University law professor and retired federal judge, responded that any issues surrounding Trump’s prosecutions did not «justify the fracture of American democracy.»
Former federal prosecutor Mitchell Epner said: «I wanted to thank Mr. Lauro for admitting the emperor has no clothes. The rule of law is dead because the people in this room and the Department of Justice pissed off President Trump.»
John Lauro, who served as a defense lawyer for President Donald Trump, exits federal court in Washington, D.C., Aug. 28, 2023. (Al Drago/Bloomberg via Getty Images)
«I can’t believe that you think that that’s normal or good that one person can dictate who the Department of Justice investigates and indicts,» lawyer and panel moderator Sandy Weinberg said.
Republicans have long argued the ABA promotes Democrat-aligned viewpoints and that its institutional presence in the legal world is a disadvantage to conservatives. The ABA’s website showcases work that includes support for «LGBTQ+» initiatives, abortion access, stricter gun control measures, and diversity, equity and inclusion.
The ABA has also taken a stance against Trump, condemning what its president described as the administration’s «wide-scale affronts to the rule of law.»
JUSTICE DEPARTMENT TELLS AMERICAN BAR ASSOCIATION IT WILL NO LONGER COMPLY WITH RATINGS FOR JUDICIAL NOMINEES
Attorney General Pam Bondi speaks alongside President Donald Trump on recent Supreme Court rulings in the briefing room at the White House on June 27, 2025 in Washington, D.C. (Joe Raedle/Getty Images)
The ABA has for decades wielded enormous power, weighing in on nominations of federal judges, engaging in litigation and helping firms across the legal industry with recruitment. One arm of the ABA also handles law school accreditation.
Under Trump, several departments and agencies, including the DOJ and Department of Labor, have told political appointees they cannot affiliate with the ABA in their official capacity.
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The DOJ, meanwhile, moved to terminate more than $3 million in federal grants to ABA programs, though a judge ruled the move was unconstitutional. Attorney General Pam Bondi told the ABA last year that the DOJ would not give advanced notice to the organization about judicial nominees, a reversal of a decades-long practice of allowing the organization to rate the nominees before they advance in the Senate.
Fox News Digital reached out to the ABA for comment.
justice department,federal judges,donald trump,politics,law
INTERNACIONAL
Trump le pidió a China postergar la reunión con el presidente Xi Jinping por la guerra con Irán
REUTERS/Evelyn Hockstein/Foto de archivo
El presidente de Estados Unidos, Donald Trump, afirmó este lunes que planea retrasar aproximadamente un mes el viaje a China que tenía previsto realizar a finales de marzo para reunirse con su homólogo, Xi Jinping, debido a la guerra con Irán.
“Debido a la guerra, quiero estar aquí. Siento que tengo que estar aquí. Así que hemos solicitado posponerlo un mes más o menos, y espero con interés estar con ellos. Tenemos una muy buena relación”, explicó el presidente a la prensa.
La portavoz de la Casa Blanca, Karoline Leavitt, había avanzado este mismo lunes que existía la posibilidad de que se retrasara el viaje de Trump a Beijing, previsto entre el 31 de marzo y el 3 de abril, porque el mandatario está centrado en la ofensiva en Irán.
Trump sugirió el fin de semana en una entrevista con el Financial Times que podría retrasar la visita al gigante asiático hasta conocer la postura de Beijing sobre si está dispuesto a ayudar a garantizar la seguridad del estrecho de Ormuz, vía clave para el tránsito del petróleo que ha sido bloqueada por Irán en represalia por los ataques estadounidenses.
“El presidente tiene muchas ganas de visitar China”, dijo Leavitt. “Las fechas podrían moverse. Como comandante en jefe, su prioridad número uno en este momento es garantizar el éxito de la Operación Furia Épica”, agregó. Más temprano, en Fox News, la portavoz había matizado que el encuentro no estaba en peligro pero que un retraso era perfectamente posible.
REUTERS/Abdul Saboor
El secretario del Tesoro, Scott Bessent, ofreció su perspectiva desde París, donde se reunió con el viceprimer ministro chino He Lifeng en una ronda de conversaciones comerciales destinada a preparar la agenda de la cumbre. Bessent subrayó en CNBC que cualquier postergación no tendría nada que ver con la disputa sobre el estrecho. “El presidente quiere permanecer en Washington para coordinar el esfuerzo bélico”, explicó. “Viajar al exterior en un momento como este puede no ser lo más conveniente.”
La velocidad del desarrollo del conflicto iraní reconfiguró la agenda diplomática de Washington. Trump dijo el domingo que había contactado a cerca de siete países sobre la posibilidad de sumar fuerzas navales para proteger el tránsito de petroleros. Sobre China fue ambiguo: sugirió haber extendido una invitación a Beijing para unirse a la coalición, pero añadió que “ya veremos” si responde.
La visita sería la primera de un presidente estadounidense a China desde el viaje de Trump en 2017. Se acordó en noviembre tras la tregua comercial entre ambas potencias y estaba concebida para avanzar en comercio, seguridad y relaciones bilaterales. Trump y Xi se habían visto cinco meses antes en Busan, Corea del Sur, donde pactaron una tregua arancelaria de un año después de que los gravámenes mutuos llegaran brevemente a niveles de tres dígitos.
REUTERS/Denis Balibouse
Beijing no confirmó las fechas —algo habitual en su protocolo— y su cancillería eludió pronunciarse sobre las exigencias de Washington. El portavoz Lin Jian se limitó a afirmar que “la diplomacia entre jefes de Estado desempeña un papel estratégico insustituible” en las relaciones bilaterales y confirmó que ambas partes mantienen comunicación sobre la visita.
La postura china combina cautela retórica con inacción práctica. Beijing recibe aproximadamente un tercio de su petróleo a través del estrecho —Trump cifró esa dependencia en el 90%, cifra que contradicen los datos de aduanas chinas, según los cuales Rusia es el mayor proveedor individual—. China no respondió al llamado de Washington. Su diario oficial Global Times argumentó que la propuesta busca trasladar los riesgos de “una guerra que Washington inició y no puede terminar”.
El barril de Brent cotizaba este lunes en torno a los 101 dólares, según FactSet, tras tocar un máximo de 126 dólares en los días más álgidos del conflicto. En Estados Unidos, el galón de gasolina alcanzó los 3,72 dólares, casi 80 centavos más que hace un mes, según la Asociación Americana del Automóvil. China afronta sus propias presiones: Beijing redujo su objetivo de crecimiento para 2026 al 4,5%-5%, el más modesto desde 1991.
Las conversaciones entre Bessent y He Lifeng avanzaron este lunes en su segundo día. Según una fuente al tanto de las negociaciones, los representantes chinos mostraron apertura a ampliar sus compras de productos agrícolas estadounidenses —aves de corral, carne de vacuno y cultivos distintos a la soja— y ambas delegaciones abordaron el flujo de minerales de tierras raras y fórmulas para gestionar el comercio bilateral. La cumbre en China sigue siendo el horizonte al que apunta toda esa negociación.
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