Obama speaks out with blunt 8-word message
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Trump’s Tariff Plan Sparks Market Turmoil and Criticism
On April 2, 2025—dubbed “Liberation Day”—Donald Trump announced sweeping tariffs, including a 10% universal import tax and higher rates on 60 countries, such as China (54%) and Vietnam (46%). Declaring it “the day American industry was reborn,” Trump said, “For decades our country has been looted, pillaged, raped and plundered.”
Markets reacted sharply: the Dow fell 5.5%, the S&P 500 dropped 6%, and the Nasdaq entered bear territory, with investors fearing a recession.
Speaking at Hamilton College, former President Obama responded: “I don’t think what we just witnessed in terms of economic policy and tariffs is going to be good for America.” He warned about broader threats to democracy, asking, “Imagine if I had done any of this?”
