President Donald Trump on Friday (April 04) said that he is committed to his economic policies despite global market disruption following a new wave of sweeping US tariffs, insisting the move would ultimately benefit American investors.

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Posting on Truth Social, Trump wrote, “To many investors coming into the United States and investing massive amounts of money, my policies will never change. This is a great time to get rich, richer than ever before.”

He added, “GREAT JOB NUMBERS, FAR BETTER THAN EXPECTED. IT’S ALREADY WORKING. HANG TOUGH, WE CAN’T LOSE!!!”

Also read: 'CHINA PANICKED': Trump slams Beijing for imposing tariffs on US goods, says they 'PLAYED IT WRONG'

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Market chaos follows tariff war

The latest market slide came after China hit back with a 34% tariff on US imports, a direct response to Trump’s earlier decision to impose the same rate on all Chinese goods. That brings the total US tariff on Chinese products to at least 54%, fuelling fears of a deepening global trade war.

Financial analysts and global investors have voiced serious concerns about the move. Following the announcements, stock futures fell by as much as 4.1% on Friday, after the US markets endured their worst one-day loss since 2020 on Thursday, according to Bloomberg.

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In Europe, shares dropped by roughly 1% at the opening, with bank stocks hit hardest as fears grow over a slowdown in economic activity, The New York Times reported. Asian markets also fell, though US stocks have taken the most severe beating.

Also read: Trump tariffs after-effect: Billionaires lost combined $208 billion; Musk, Zuckerberg biggest losers. FULL LIST HERE

Will there be a recession in the US?

Despite the market slide, the Trump administration is pushing back against fears of long-term economic damage. The president compared the US economy to a patient recovering from a medical procedure.

Trump said the economy is like a “patient that was very sick” and that it had to undergo an operation, but was now on the mend.

However, financial experts are not so optimistic. JPMorgan analysts have raised the likelihood of a global recession to 60%, up from 40% the day the tariffs were unveiled, as reported by the Wall Street Journal.

While Trump insists his approach will help revive American industry and create opportunities for local investors, concerns over a broader economic fallout continue to grow.

Also read: 'Trump not interested in delay tactic on Ukraine': Rubio warns Putin, says Russia must ‘decide if it’s serious about peace’

(With inputs from agencies)