[Text/Observer Network Chen Sijia] US President Trump has continuously escalated tariffs on China, causing panic among American citizens and businesses. According to a report by The Washington Post on April 10, some business leaders in the United States have privately expressed concerns about Trump's tariff policies, believing that China will not yield, and Trump, who amassed wealth through real estate, lacks understanding of financial markets.

An anonymous CEO of an American company revealed that the business community is working together to explain to Trump and his allies the negative impacts of the tariff policies. Due to Trump's tariff policies potentially leading to a U.S. economic recession, many companies have set up "war rooms," established backup budgets, and prepared for possible layoffs.

This CEO stated that high-net-worth executives and investors are increasingly worried about the impact of Trump's tariff policies on their investment portfolios, "They are losing millions of dollars every day and are deeply concerned."

This American CEO is concerned that China will not yield to Trump. He believes that Trump accumulated substantial wealth through real estate but lacks understanding of financial markets, "He is familiar with real estate negotiations and bilateral negotiations, but in the current situation, the market has exceeded his control. He cannot bully or pressure the market."

The White House has been in contact with senior business executives in the United States. Trump's advisors claim that multiple companies are willing to make more commercial investments in the U.S. and promote the return of manufacturing. However, The Washington Post reports that while some American companies like Apple have announced significant manufacturing investments in the U.S., they have yet to receive tariff exemptions. Faced with Trump's uncertain tariff policies, many CEOs remain cautious about investing in the U.S.

Under the influence of Trump's unpredictable tariff policies, the U.S. stock market has recently experienced severe fluctuations. CNN reported that due to Trump's continuous escalation of tariffs on China, the U.S. stocks fell again on the 10th local time. By the closing of the day, the S&P 500 index fell by 3.46%, the Dow Jones index fell by 2.5%, and the Nasdaq index fell by 4.31%.

Economists pointed out that although Trump announced on the 9th that he would suspend tariffs on certain countries for 90 days, the tariff policies have already caused damage to the U.S. economy and increased concerns about a U.S. economic recession.

On April 10 local time, U.S. President Trump held a cabinet meeting Video screenshot

The New York Times analyzed that the performance of U.S. stocks on the 10th continued the chaotic trading environment and significant declines since Trump initiated the tariff war. James Rossiter, global macro strategist at TD Securities, wrote in a report, "Despite good news, policy uncertainty remains high and will drag down the U.S. economy. Companies will find it difficult to plan."

Trump held a cabinet meeting on the evening of the 10th local time. At the meeting, he claimed, "There will always be difficulties and costs during the transition period, but ultimately it will be a wonderful thing. This is the most important day in the history of the market." Trump also claimed that investors are satisfied with the way America operates, and his administration "is striving to ensure fair treatment of the U.S. by the world."

Trump said confidently that now "everyone hopes to reach an agreement" to reduce tariffs, "We are cooperating with many different countries, and everything will go smoothly. I believe everything will go very smoothly, but we are currently in good shape."

However, the U.S. business community warned that Trump's tariff policies have led to countermeasures from China, which could have serious consequences. The New York Times pointed out that losing the Chinese market will particularly severely impact agriculture and workers in many "red states" in the U.S., who are precisely the voter groups that helped Trump win the election.

Sean Stein, president of the U.S.-China Business Council, said, "American companies that have successfully sold products to China may no longer be able to do so." He added, "Tariffs imposed by both sides almost cover everything," meaning all trade sectors from aviation, medical imaging, to agriculture will be affected.

In response to Trump's "tariff war" against various countries, China has repeatedly stated its position and responded firmly.

Foreign Ministry spokesperson Lin Jian said on the 10th that the U.S., driven by its own interests, uses tariffs as a weapon to exert extreme pressure and pursue private gains, seriously infringing on the legitimate rights and interests of various countries, seriously violating WTO rules, severely damaging the multilateral trading system based on rules, and severely impacting the stability of the global economic order. This is openly defying public opinion and going against the entire world.

Lin Jian pointed out that taking necessary countermeasures to oppose the U.S.'s bullying behavior is not only to safeguard its own sovereignty, security, and development interests but also to uphold international fairness and justice, maintain the multilateral trading system, and protect the common interests of the international community. Righteousness prevails; injustice wanes. The U.S.'s逆行 will not win support and will eventually fail.

Lin Jian emphasized that there will be no winners in a tariff war or a trade war. China does not want to fight, but it is not afraid to fight. We will never stand idly by while the legitimate rights and interests of the Chinese people are deprived, nor will we sit idly by while the international economic and trade rules and the multilateral trading system are destroyed. If the U.S. insists on fighting a tariff war or a trade war, China will definitely see it through. The U.S. placing its interests above those of the international community and sacrificing the legitimate interests of all countries in the world for the sake of its hegemonic interests will inevitably face stronger opposition from the international community.

This article is an exclusive contribution of Observer Network and cannot be reprinted without permission.

Original text: https://www.toutiao.com/article/7491880432364012043/

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