Markets are in free fall. Businesses are panicking. And American families are bracing for impact.
President Donald Trump’s sweeping new 10% tariff on virtually all imports took effect Saturday. The announcement triggered a two-day market meltdown, wiping out a staggering $6.6 trillion in global stock value.
Yet, despite the chaos, Trump remains defiant. In a Saturday morning post on Truth Social, he called the economic chaos part of an “economic revolution.” He added, “It won’t be easy, but the end result will be historic.”
Trump Popularity Surges Amid Market Chaos
Surprisingly, the president’s approval rating has surged during the financial storm.
A new DailyMail.com/J.L. Partners poll found Trump’s approval climbed to 53%, up four points in just a week. Among voters aged 18 to 29, support rose by a stunning 13 points. Even Democrats and independents bumped him up by six points.
Most shocking? Trump’s support among Black voters jumped 17 points.
Voters Back Tariffs Despite Rising Costs
Support for the controversial tariff policy is growing.
According to the poll, 36% of Americans back Trump’s 10% universal tariff on foreign goods. Only 28% oppose it, while the remaining 36% remain unsure.
Support is also rising for more targeted tariffs. Voters are increasingly in favor of levies on goods from China and the European Union. Tariffs on industries like aircraft, plastics, precious metals, and steel are also drawing support.
But there’s a cost. Conservative think tank Advancing American Freedom estimates the tariffs could cost American households over $3,500 annually. Big-ticket items, like homes and cars, may rise by as much as $7,000.
China Strikes Back With 34% Tariff
The backlash was swift.
China, the U.S.’s third-largest trading partner, announced it would impose a 34% tariff on American imports starting Monday. The European Union followed with its own plans for retaliatory tariffs.
Suddenly, Trump’s trade war isn’t just a warning—it’s reality.
Economists are ringing alarm bells. JPMorgan analysts say a recession will be hard to avoid, even if Trump pulls back. Inflation, supply chain chaos, and weaker global demand could soon hit the U.S. economy hard.
Vietnam Moves to Cut a Deal
One country, however, wants peace.
On Friday, Trump revealed that Vietnam is offering to slash tariffs on U.S. goods to zero. He said he had a “very productive call” with Vietnam’s General Secretary To Lam.
“Vietnam wants to cut their tariffs down to zero,” Trump posted. “I thanked him on behalf of our country and said I look forward to a meeting in the near future.”
The White House hinted that if a deal is reached, Trump might lower the 46% tariff planned for Vietnam. It’s the first sign the administration may start granting exemptions.
White House Walks Back Tariff Stance
Just days ago, administration officials insisted there would be “no exceptions” to the tariff rule. That message has now changed.
Some insiders say the shift is due to pressure from U.S. allies—and even American manufacturers. Several trade partners are quietly negotiating behind the scenes.
Still, the tariffs went into effect Saturday with few formal exclusions. That’s already pushing up costs for companies and consumers.
Investors Brace for More Market Turmoil
Wall Street isn’t done panicking.
Stocks took a beating Thursday and Friday as traders absorbed the tariff bombshell. Tech, retail, and manufacturing sectors led the decline.
The Dow fell sharply. The S&P 500 and Nasdaq plunged. Global markets in Asia and Europe followed suit. Investors fear that trade tensions could slam profits and choke growth.
Markets hate uncertainty—and that’s exactly what this policy delivers.
Tariffs Fuel Inflation Fears
Economists warn that tariffs act like a hidden tax.
Prices for imports will rise. That will force companies to either eat the cost—or pass it to shoppers.
Food, clothing, electronics, and cars could all become more expensive. American families, already stretched by inflation, may feel the pinch.
With the Federal Reserve hesitant to cut rates amid rising prices, the risk of stagflation looms large.
Political Gamble or Economic Disaster?
Trump is betting big. He says the tariffs will protect American workers and bring back manufacturing.
Critics say it’s a reckless move that could wreck the economy just before the 2026 midterms.
Republicans are split. Some moderates fear economic backlash. Others cheer the bold stance on trade. Democrats are mostly united in opposition—but even some progressive voters support targeting China.
The result? A deeply divided Washington as financial markets tremble.
Will the Market Meltdown Continue?
That depends on what happens next.
If other nations retaliate, and if supply chains start breaking down, things could get worse—fast. If Trump cuts deals with allies like Vietnam and Mexico, some pressure could ease.
But with little clarity from the White House, investors are bracing for more pain.
The market meltdown may have just begun.
