US President Donald Trump has referred to himself as "the President who stands for the Main Street, not Wall Street" amid a significant downturn in the US equity market. This statement was made as the market faced a meltdown, which analysts link to Trump’s ongoing tariff disputes with other nations. In Tuesday's trade, the US markets continued to fall, with the Dow, the S&P 500, and the Nasdaq all closing in the red.
"I’m proud to be the President for the workers"
During a speech, Trump elaborated on his stance, saying, "I’m proud to be the President for the workers, not the outsourcers; the President who stands up for Main Street, not Wall Street; who protects the middle class, not the political class; and who defends America, not trade cheaters all over the globe."
I’m proud to be the President for the workers, not the outsourcers; the President who stands up for Main Street, not Wall Street; who protects the middle class, not the political class; and who defends America, not trade cheaters all over the globe.
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 9, 2025
Donald Trump Truth Social…
This quote outlines his focus on domestic workers and businesses, positioning his administration as a counter to outsourcing and global trade practices he deems unfair.
Trump claims historic success
In the same speech, Trump highlighted his administration’s achievements. He stated, "I had somebody say the most successful first month... now they said the most successful 100 days in the history of our country, and I believe that's right — and we're going to continue that way, if not more so." This reflects his claim of unprecedented success early in his presidency, suggesting a trajectory of continued progress based on his policies.
Trump on international trade negotiations
Trump also addressed interactions with foreign leaders, saying, "And don't let some of these politicians...let me tell you. These countries are calling me, kissing my a**, they are dying to make a [trade] deal...'please please sir let me make a deal, I'll do anything, I'll do anything sir.'"
He further remarked on China, stating, "China has ripped us off left and right. But now it's our turn to do the rippin." These statements indicate his approach to trade negotiations and his intent to shift economic leverage back to the US.
Tariff escalation with China
These remarks coincided with a policy move by the Trump administration, which imposed an additional 50% tariff on China, raising the total tariff rate to 104%. This escalation marks a significant step in the ongoing trade conflict, intensifying pressure on Chinese imports and contributing to the market unrest observed on the same day.
The tariffs are part of Trump’s broader strategy to address trade imbalances and protect American industries, as outlined in his speech.
