His comment came as U.S. tariffs went into effect on Wednesday.
President Donald Trump on Wednesday promoted the idea of companies shifting operations to the United States as a solution to offsetting higher tariffs that his administration announced last week and which went into effect earlier in the day.
In a post on Truth Social, the president wrote that now “is a GREAT time to move your COMPANY into the United States of America, like Apple, and so many others, in record numbers, are doing.”
That way, the companies will pay “ZERO TARIFFS,” will face no environmental-related delays, and will receive “almost immediate” electrical connections, he wrote.
The comment was made as U.S. stock index futures moved slightly higher on Wednesday morning, following the Chinese regime’s announcement of additional tariff measures on U.S. goods.
The Dow Jones Industrial Average shed more than 100 points after the opening bell, although the Nasdaq Composite was up more than 100 points. The S&P 500 was up slightly, while the CBOE Volatility Index, or Wall Street’s “fear gauge,” was up by 0.6 percent.
Japan’s Nikkei 225 stock index closed 3.9 percent lower, at 31,714.03. Hong Kong’s Hang Seng rose by 0.7 percent, while the Shanghai Composite index closed 1.3 percent higher. Thailand’s benchmark also rose.
China’s Ministry of Finance said on Wednesday that 84 percent tariffs on U.S. imports would be imposed starting from April 10, as Trump administration officials warned their Chinese counterparts not to take retaliatory action. Last week, Trump announced a new slate of tariffs against China before White House officials confirmed they’re upping the rate to 104 percent, going into effect early Wednesday.
Beijing also imposed restrictions on 18 U.S. companies, mostly in defense-related industries, adding to the 60 or so U.S. companies that were punished by the regime over the U.S. tariffs.
In response, Treasury Secretary Scott Bessent told Fox Business on Wednesday that China has “the most imbalanced economy in the history of the modern world.”
“I can tell you that this escalation is a loser for them,” he said, adding that he believes it is “unfortunate that the Chinese don’t want to come and negotiate.”
“They are the surplus country. Their exports to the U.S. are five times our exports to China. They can raise their tariffs, but so what?”
