The Daily Populous

Trump Insists ‘I Know What the Hell I’m Doing’ as His Tariffs Unleash Carnage

President Donald Trump insisted he knows what he’s doing with his “Liberation Day” tariffs even as markets plummeted and comparatively safe assets like Treasury bonds cratered.

Donald Trump photo illustration Photo Illustration by Eric Faison/The Daily Beast/Getty Images.

Hours later, his steep tariffs took effect—including a 104 percent levy on Chinese goods—unleashing even more economic carnage after nearly a week of market losses.

China also retaliated Wednesday by slapping an 84-percent tariff on U.S. goods, roiling global markets.

Donald Trump's "Liberation Day" tariffs, which Commerce Secretary Howard Lutnick (right) advocated for, took effect Wednesday at 12:01 a.m. Carlos Barria/Carlos Barria/REUTERS.

Before announcing its retaliatory tariffs on U.S. goods, China had vowed to take “resolute and effective measures” to protect its economy, CNN reported.

Depending on which Trump administration official you ask, the tariffs are either short-term or long-term. »

AP wins reinstatement to White House events after judge rules government can’t bar its journalists

Authored by apnews.com

The decision, while a preliminary injunction, handed the AP a major victory at a time the White House has been challenging the press on several levels.

In its action filed on Feb. 21, the AP sued Leavitt, White House chief of staff Susie Wiles and deputy chief of staff Taylor Budowich.

“The government offers no other plausible explanation for its treatment of the AP,” the judge wrote. »

China slaps 84% retaliatory tariffs on U.S. goods in response to Trump

Authored by cnbc.com

The hike comes in response to the latest U.S. tariff increase on Chinese goods to more than 100% that began at midnight.

China has pushed back again on U.S. President Donald Trump 's tariff policies by hiking its levies on U.S. imports to more than 80%.

According to the Office of the U.S. Trade Representative, the U.S. exported $143.5 billion of goods to China in 2024, while importing products worth $438.9 billion. »

What would it take for euro to dethrone king US dollar?

Authored by euobserver.com

As a result, the euro today is underdeveloped relative to the size of its economy.

“The ECB has been sleeping,” Jens van ’t Klooster, professor of political economy at the University of Amsterdam, told EUobserver.

“National ministries, the central bank, the EU — there needs to be a coherent strategy to roll out the euro. »

Trump's tariffs: China retaliates with 84% levy

Authored by bbc.com

The hike in tariffs, from 34%, came as US President Donald Trump's 104% tariff on Chinese goods came into force.

China has called for the world to unite against Trump's tariffs as the country's exporters reel from the crippling new levies.

"Global unity can triumph over trade tyranny," declared an editorial in the state-run newspaper China Daily, noting Beijing's collaborations with Japan, South Korea and other Asian economies. »