President Trump isn't backing down with his stance on the new sweeping tariffs he recently announced.
In a post made to Truth Social Saturday morning, Trump wrote that his plan is already working. He's asked for Americans to "hang tough" amid the steep drops recently in the stock market.
"We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN," Trump wrote.
On Friday, the Dow Jones Industrial Average fell 2,231.07 points, or 5.5%. The S&P 500 and Nasdaq Composite also saw some of the worst losses ever with both dropping just under 6%.
On Thursday, a day described by the president as "Liberation Day," Trump implemented a 10% baseline tariff on all imported goods into the United States. Some countries, like China, were hit with higher tariffs.
"China has been hit much harder than the USA, not even close," Trump said. "They, and many other nations, have treated us unsustainably badly. We have been the dumb and helpless "whipping post," but not any longer."
Trump’s 34% tariffs against China are in addition to the 20% tariffs already imposed against the country.
President Trump believes his plan will work and will reduce America's trade deficit with other countries and encourage companies to move their operations back to the U.S.
"HANG TOUGH, it won’t be easy, but the end result will be historic," Trump added. "We will, MAKE AMERICA GREAT AGAIN!!!"