Trump Slams China’s Tariff Response “They Miscalculated and Panicked”

Trump Slams China’s Tariff Response: “They Miscalculated and Panicked”

Former President Donald Trump criticized China’s reaction to his trade policies on Friday, claiming the country “panicked” in response to new U.S. tariffs — a move he says reveals weakness from America’s top economic competitor.

“China got it wrong. They panicked — and that’s the worst thing they could do!” Trump posted in his signature all-caps style on Truth Social.

As global markets took a sharp downturn for the second consecutive day, Trump remained defiant. Major indices like the Dow Jones and S&P 500 dropped nearly 3 percent, while European and Asian markets also posted significant losses. Despite the market volatility, Trump insisted that the trade war presented economic opportunities: “This is the perfect time to get rich — richer than ever before,” he wrote.

The 78-year-old Republican, spending the weekend golfing at his Palm Beach resort, doubled down on his trade strategy. He argued that by leveraging the U.S.’s economic strength, foreign companies will eventually be forced to shift production to American soil instead of relying on imports.

In response to Washington's tariffs, Beijing unveiled its own countermeasures: a 34 percent tariff on certain U.S. imports effective April 10. Additionally, China threatened to file a complaint with the World Trade Organization and restrict the export of rare earth minerals — crucial materials for various high-tech industries.

Other global players have been more cautious in their response. The European Union, which was hit with a 20 percent U.S. tariff, emphasized a measured and unified approach. EU trade commissioner Maros Sefcovic reiterated the bloc's preference for diplomacy but warned they wouldn’t remain passive if negotiations fail.

France and Germany hinted at alternative forms of retaliation, including potential taxes on U.S. tech giants. French Economy Minister Eric Lombard encouraged domestic firms to avoid new investments in the U.S., citing the importance of economic "patriotism." He added that Europe's response might use different tools — not just tariffs — to avoid self-inflicted damage.

In Japan, Prime Minister Shigeru Ishiba urged a level-headed response after the U.S. imposed steep tariffs on Japanese goods, including a 24 percent duty on vehicles.

Meanwhile, the automotive industry is already feeling the strain. Canada mirrored the U.S. auto tariffs with levies of its own. Stellantis paused production at facilities in Canada and Mexico. Nissan announced production cuts and the withdrawal of two models from the U.S. market, while Volvo, owned by China's Geely, revealed plans to ramp up vehicle manufacturing in the U.S.

Despite growing concern from international leaders — and even some Republicans — over rising consumer prices, Commerce Secretary Howard Lutnick defended Trump’s strategy.

“Let Donald Trump manage the global economy. He knows what he’s doing,” Lutnick said.