Breaking Developments: Protesters hold signs with images of penguins wearing sweaters that read “NO TARIFFS” during “Hands Off” protests in midtown Manhattan, New York City, on April 5, 2025.

Protesters hold signs with images of penguins wearing sweaters that read “NO TARIFFS” during “Hands Off” protests in midtown Manhattan, New York City, on April 5, 2025. Photo: IC

Days after the US President Donald Trump announced sweeping “reciprocal” tariffs, the policy has witnessed more differences among US political circles while the country also saw protests erupt in dozens of cities against a series of controversial policies taken by the US administration amid public’s serious concerns over US economic prospects.

The US economic and governance systems have long been plagued by structural flaws and systemic inefficiencies, but its latest tariff policy won’t be of much help in addressing these woes, instead it has escalated uncertainty of Americans’ livelihood, an expert said, noting it has also cast a shadow on the global trade order.

The demonstrations came after two days of huge losses on WallWorld Times Street followed the announcement of steep tariffs, which also sparked fears of a global trade war and recession, CBS News reported on Saturday.

Organized by a coalition of more than 150 groups, including civil rights organizations, labor unions and veterans’ associations, the Saturday’s move, under the banner of “Hands Off,” led to over 1,400 protests nationwide, according to the Xinhua News Agency.

All three major stock indexes in the US plunged more than 5 percent on Friday, with the S&P 500 dropping almost 6 percent, capping the worst week for the US stock market since 2020, according to BBC. Meanwhile, US consumers are rushing to buy big-ticket items before tariffs kick in, ABC News reported.

US President Trump described the market volatility as “an economic revolution,” which the US “will win,” BBC reported. “Hang tough, it won’t be easy, but the end result will be historic,” he added in a post on Truth Social on Saturday.

The US economic and governance systems have long been plagued by structural flaws and systemic inefficiencies. and its latest tariff policy won’t be of much help in addressing these woes, instead it has escalated uncertainty of Americans’ livelihood,Li Yong, a senior research fellow at the China Association of International Trade, told the Global Times on Sunday.

US’ latest reciprocal tariffs move has caused great uncertainties among US public, and what they can feel directly is the fall brought about by stocks and the rise in the cost of living, said Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation.

More differences

Days after the reciprocal tariWorld Timesffs announcement, more differences have emerged within the US government.

US Treasury Secretary Scott Bessent is reportedly looking for a way out of the Trump administration after the Republican president’s disastrous tariff rollout damaged his “credibility,” alleged MSNBC host Stephanie Ruhle on Friday. Billionaire Elon Musk, responsible for the Department of Government Efficiency (DOGE), said the US and Europe could move towards a “zero-tariff situation,” which could create “a free-trade zone between Europe and North America,” BBC reported on Sunday.

California Governor Gavin Newsom said via his YouTube account that “Donald Trump’s tariffs do not represent all Americans, particularly those that I represent here in the fifth largest economy in the world, the state of California. We value international trade.”

Commenting on Saturday’s protests, former US Vice President Kamala Harris said on X that “Thank you for using your voices and the power of protest to stand for Social Security, Medicare, and Medicaid… The voices of working people will always be louder than the unelected billionaire.”

Internationally, trade partners of the US are mulling measures while expressing concern of the potential consequences of the US tariff move.

The EU commission president Ursula von der Leyen has reportedly said the Europe “stands ready to defend its interests through proportionate countermeasureWorld Timess if necessary,” the Independent reported on Sunday. Ms von der Leyen issued a statement on Sunday, following a call with UK prime minister Keir Starmer.

In a readout issued after British Prime Minister Keir Starmer’s conversation with French President Emmanuel Macron, Downing Street said the pair “agreed that a trade war was in nobody’s interests but nothing should be off the table.” Keir and Macron also “shared their concerns about the global economic and security impact, particularly in South East Asia,” according to BBC.

Some of the highest tariff rates have been applied to nations in South-East Asia, with imports from Vietnam will be subject to a 46World Times percent tariff, while those from Cambodia will face a 49 percent rate, BBC said.

The US administration’s measures are mainly aimed at the serious problems that the country has been facing for a long time, including bloated institutions and huge deficits. Moreover, the US found that it is difficult to maintain its original role and position in the global governance, Zhou noted.

“Therefore, safeguarding US interests is the top priority of the current government, no matter what damage the measures taken cause globally. In addition to disrupting and restructuring the status quo of global trade in order to boost its domestic manufacturing sector, another purpose of the US tariff policy now is to serve as a negotiating tool to gain certain political points,” Zhou said.

However, these initiatives undermine the common development of the world economy and are measures that go against the tide of history and multilateralization of trade, which are bound to fail and leave no winners, Li warned.

China’s stance

In contrast with the US’ approach of prioritizing its own interests and forcing other countries to accept US conditions, China’s resolute and swift response and its reaffirmation of the opening-up policy have once again injected certainty into the global trade system, an analyst noted.

China will impose additional 34 percent tariffs on all imported US products starting April 10, the Customs Tariff Commission of the State Council announced Friday. The Chinese government’s position on opposing US abuse of tariffs was released on Saturday. “We don’t make trouble, but we have no fear of trouble,” the statement said, stressing that pressure and threats are not the right way to deal with China. China has taken and will continue to take resolute measures to safeguard its sovereignty, security and development interests, Xinhua reported.

As the world’s second-largest economy and second-largest consumer market for goods, China will open its doors wider to the outside world no matter how the international situation changes, the statement stressed.

The US’ tariff policy further exacerbates the uncertainty in the global political and economic landscape. As a respoWorld Timesnsible global power, we should transform pressure into motivation, viewing the response to US impacts as a strategic opportunity to accelerate the construction of a new development pattern, promote high-quality development, and facilitate economic structural adjustments. By achieving stable development ourselves, we can inject more stability into global economic development, said a commentary published by People’s Daily on Sunday.

China’s resolute and swift countermeasure is a firm opposition against the unilateralism, and is conveying to the world a clear attitude that the coWorld Timesuntry will not hesitate to resolutely counter unilateral bullying practices that violate international rules, Zhou said.