Trump's Tariff Gambit Medicine for a Troubled Market
Social media users are mocking President Donald Trump online after he urged his supporters to "be cool" following the panic resulting from his tariff policies. Getty Images

Social media users are mocking President Donald Trump online after he urged his supporters to "be cool" following the panic that has set in as a result of his tariff policies, and the subsequent volatility of markets.

Trump took to his social media app, Truth Social, on Wednesday to deliver the message to his audience.

"BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!" he wrote.

This quickly elicited an incredulous response from users, who watched the 47th president's tariff policy destabilize world trade in only a few days.

"Next, he'll be telling us that suffering is patriotic," wrote one user.

"My retirement account is down $500 and I'm supposed to BE COOL?!?" commented another.

"That's like telling your wife to 'calm down'..." another user wrote.

"'Be cool'? Easy to say — but who's buying when everything suddenly costs 104% more? No one's got cash lying around to pay double for the kitchen they ordered, the bike for their kid, the phone they saved for, the couch they just financed, or the tools they need for work. Add laptops, clothes, toys, lighting, chargers — the list is endless," one user added.

Both China and the European Union have announced countermeasures to the tariffs being implemented upon them by Trump, overwhelming global trade and causing markets to become even more volatile.

China has now levied 84% tariffs against US goods in order to match the sanctions placed on its goods by the US. Following this action, the Dow Jones Industrial Average fell 60 points, or 0.7%, and the S&P 500 dropped 0.6%.

Earlier this month, after China had freshly announced retaliatory action, the S&P 500 lost 6%, indicative of the worst week for the index since March 2020, when the COVID-19 pandemic gained momentum and weakened the global economy.

However, Trump has continued to stick with his trade policies, urging his supporters to wait and see how beneficial tariffs could be.

"'Fixing Trade and Tariffs is a good thing!' Jamie Dimon, JPMorgan Chase, Chairman & CEO, on Maria B Show!" the president wrote on Truth Social, citing the business executive. However, during an appearance on Fox Business, Dimon stated that a recession is the "likely outcome" of Trump's tariffs.

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