Trump Threatens China With More Tariffs

FINANCE
Trump Threatens China With More Tariffs

President Donald Trump has given China an ultimatum: withdraw its latest retaliatory tariffs within one day or face an additional 50% U.S. tariff on Chinese imports. This comes after Trump imposed a fresh 34% duty last week, stacking on top of a previous 20% levy. If the new tariff is implemented, total duties on Chinese imports would reach 104%. With possible “secondary tariffs” over China’s purchase of Venezuelan oil, the rate could rise to 129%.

China responded with a 34% tariff of its own, prompting Trump to reiterate his vow on Truth Social that any retaliation would be “immediately met” with higher tariffs. He also said all talks with China would be terminated if it doesn't back down by April 8. Meanwhile, he announced that trade negotiations with other nations would begin immediately.

Markets initially tumbled following his announcement but later stabilized. Still, the Dow fell 349 points, and analysts fear continued escalation. China condemned the threats, calling them economic “bullying” and warning that pressure tactics won't work.

UBS projects the effective U.S. tariff rate could rise to 30%, the highest since 1872, though they expect it to fall to 10–15% by year-end as political and business pressure builds.

Despite warnings, Trump shows no signs of retreat. Over the weekend, officials claimed over 50 countries have reached out to negotiate. Trump remains defiant, telling Americans to be “strong, courageous, and patient,” promising that enduring short-term pain will bring long-term gains.

FINANCE
Billionaires Lose Billions in Crash

Billionaires are taking major financial hits following President Trump’s sweeping tariffs on more than 180 countries, which sent markets into chaos and pushed the S&P 500 close to bear market territory. The resulting crash has wiped out billions in wealth, impacting both everyday investors and the ultra-rich. Warren Buffett, Larry Ellison, and Mark Zuckerberg each lost nearly $10 billion in one day, while the Bloomberg Billionaires Index recorded its worst two-day loss ever on April 3 and 4. Even Elon Musk, typically shielded by his massive holdings, lost $20 billion on Friday and over $130 billion so far in 2025—though he remains the world’s richest person.

Warren Buffett stands out as a rare winner this year. After unloading $134 billion in equities in 2024 and stockpiling cash, he’s up $12 billion in 2025 and sits sixth on the global wealth list. His conservative strategy—favoring Treasury bills and staying out of politics—has paid off.

Still, global markets are sliding, and billionaire fortunes may continue to fall. In 2024, the ultra-wealthy saw record gains, with some earning $10 billion daily. Now, that growth may reverse. For most Americans, though, the downturn is more personal—affecting retirement plans, job prospects, and household budgets. Nearly 75% of Americans see wealth inequality as a national crisis, and many feel billionaires hoarding wealth is making the American Dream harder to reach. If the market slump continues, the billionaire club could become smaller—but ordinary Americans may bear the heaviest burden.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.