‘We’ve been the whipping post, not anymore’: Trump defends tariffs, calls it an 'economic revolution'

Trump invoked emergency economic powers to justify the move, citing chronic trade imbalances.

As the United States rolls out its broadest set of tariffs yet, President Donald Trump on April 5 doubled down on his aggressive trade stance, calling it an “economic revolution” and warning Americans to brace for short-term hardship in pursuit of long-term national gain.

In a post on Truth Social, Trump said, “China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly. We have been the dumb and helpless ‘whipping post,’ but not any longer.”

He touted over $5 trillion in investment returns and job creation under his policies and urged Americans to “hang tough.” “It won’t be easy, but the end result will be historic,” he added. “We will MAKE AMERICA GREAT AGAIN!”

China has been hit much harder than the USA, not even close. They, and many other nations, have treated us unsustainably badly. We have been the dumb and helpless whipping post, but not any longer. We are bringing back jobs and businesses like never before. Already, more than

Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 5, 2025

Trump’s remarks came as sweeping tariffs, up to 50% on some imports, officially took effect this week. The new 10% “baseline” tariff now applies to most goods entering the U.S., excluding those from Mexico and Canada. Trump invoked emergency economic powers to justify the move, citing chronic trade imbalances.

Markets responded sharply. Since Wednesday’s announcement, the S&P 500 has lost $5 trillion in market value, marking the worst two-day loss on record. Commodities and oil prices tumbled, while investors rushed toward government bonds for safety.

Starting Wednesday at 12:01 ET, reciprocal tariffs between 11% and 50% will apply to goods from around 60 countries, including key U.S. trading partners like India, the European Union, Japan, and China. The rate is tailored based on each country’s trade policies and perceived imbalances.

China, the primary target of the tariffs, is set to be hit with a steep 34% duty on its exports to the U.S. beginning next week. In response, Beijing has announced identical tariffs on American goods starting April 10. China also intends to file a complaint at the World Trade Organisation (WTO) and impose export restrictions on rare earth elements—materials vital to high-tech industries, including electronics and medical devices.

The escalating trade war marks a new chapter in Trump’s longstanding protectionist agenda, with the former president framing it as a fight to reclaim American economic dominance. Whether the outcome will be as “historic” as he predicts remains to be seen.