PRESIDENT Donald Trump’s explosive tariffs have officially taken effect across the globe – including a crushing 104% hike for China.
Around 60 countries dubbed the “worst offenders” by the US President have been slapped with the huge increases – sparking fears of a global trade war.
Trump has insisted the US is already benefiting from the sweeping tariffs, which he says are bringing in $2billion per day.
And as the strongest wave of tariffs yet came into effect, Trump said world leaders are lining up to “kiss his a**” and make a deal.
He also blasted “trade cheaters all over the globe” as he claimed he was standing up for working Americans.
The President spoke just hours after stoking a bitter battle with Beijing as he imposed the crippling 104% tariffs on all Chinese imports.
China has seen the highest rates, along with Vietnam (46%), Thailand (36%), Japan (24%) and the European Union (20%).
The UK has not faced any further rises beyond the 10% baseline rise which came into effect last weekend.
But despite the president’s claims that business is better than ever, the trade war has already wiped trillions off global markets.
The stock market plummeted again on Tuesday after a seemingly optimistic morning.
The S&P 500 dropped 1.6%, the Dow Jones Industrial Average slid 320 points, and the Nasdaq plummeted 2.1% in response to Trump announcing new additional tariffs in his war against China.
China has vowed to “fight to the end” in what’s been called a global game of chicken.
However, Trump said Beijing “wants to make a deal, badly, but they don’t know how to get it started”.
Speaking about Beijing’s retaliatory tariffs, the President said: “I have great respect for China, but they cannot do this.
“We are going to have one shot at this… I’ll tell you what, it is an honor to do it.”
Donald Trump has coined a brand new word called “PANICAN” to refer to people who he thinks are “weak and stupid” and get panicked easily.
Posting on Truth Social, Trump told Americans not to be a “PANICAN” amid his tariff war.
He said: “The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!).
“Be Strong, Courageous, and Patient, and GREATNESS will be the result!”
Since Trump posted the term on social media, it has gone viral and received hilarious reactions from users.
Reacting to the new word, a user wrote on X: “Oh phew. When I heard Trump created a new word, I thought that meant we were invading Panama and Canada today.”
While another user said: “Trump switches parties, becomes Panican.”
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