US President Donald Trump vowed on Friday to stick to his policy. "My policy will never change," he said in a message on the social media site Truth Social to "the many investors" who come to the US and invest money.
The announcement comes after new US tariffs have triggered sharp falls in global stock markets. Friday looks set to be another dark red day on US stock markets.
According to AFP, the broad-based S&P 500 index, which many describe as the most important in the world, started the trading day down 2.3 percent. The Nasdaq, which focuses on technology stocks, is down 2.3 percent.
- It's a good time to get rich, richer than ever before!!!, Trump wrote afterwards.
Among other things, the US president has announced that he will impose a 10 percent tariff on almost all imports to the US. In addition, he is introducing tailor-made tariffs on goods from over 60 countries. Among other things, goods from the EU will be subject to a 20 percent tax.
This has caused the world's stock markets to go into the red on Friday. Danish shares have also plummeted. In response, China has chosen to impose an additional 34 percent tariff on all American goods from April 10. The Chinese Ministry of Finance announced this earlier on Friday.
Friday's announcement from China includes not only additional tariffs on imported American goods, but also export controls on seven rare earths, the ministry said. In response to this, Donald Trump wrote on Truth Social on Friday afternoon Danish time that China has "played the wrong way".
- They panicked, writes the president.
- It's already working. Hang in there. We can't lose!!!, it continues.
Tariffs are import taxes that are imposed on goods that are produced abroad. The idea is that the goods that enter the United States will become more expensive, and that Americans will therefore be less inclined to buy them.
The intention of the tariff is that Americans will instead buy domestic products and thus strengthen the country's own economy. With higher tariffs, Donald Trump wants to force foreign companies to produce their goods in the United States and create American jobs.
jel /ritzau/
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