Protests are planned in all 50 states to oppose the Trump administration, as his sweeping tariff-based economic plan helped wipe out more than five trillion dollars from US stocks in two days. Fears of recession mount in the US and beyond. #Trump #Trumptariff

Trump's Tariffs Spark Backlash from Tech, Finance, and Global Markets

President Donald Trump's aggressive tariff policy has ignited significant concern across both the business world and global markets. A group of influential leaders from the tech and finance sectors are reportedly heading to Trump's Mar-a-Lago resort in a bid to inject "common sense" into the administration's trade strategy, according to journalist Kara Swisher.

The backlash is especially vocal in the tech community. Elon Musk, never shy about expressing his views, took a direct swipe at Trump trade advisor Peter Navarro, dismissing his academic credentials with a sharp post on X: "A PhD in Econ from Harvard is a bad thing, not a good thing." Musk'sMusk's comment reflects a broader skepticism about the administration's economic reasoning and its potentially disruptive impact on innovation and industry.

Despite a sharp market sell-off in the wake of the tariff announcements, Navarro remained unfazed, predicting confidently that the Dow Jones Industrial Average would rise to 50,000 during Trump's term — a projection many analysts view as more aspirational than realistic.

Internationally, the reaction has been just as tense. In response to the US tariffs, China implemented retaliatory measures, including a hefty 34% tariff on all American goods. The result was a steep drop in US markets on Friday, underscoring investor anxiety over an escalating trade war. China's government issued a pointed remark, saying "the market has spoken" and urging the White House to de-escalate the conflict.

President Trump, however, has doubled down on his stance, claiming on Truth Social that China has been hit "much harder than the USA, not even close," framing the dispute as a clear-cut win for his administration.

In summary, Trump's tariff rollout has triggered market volatility, drawn sharp criticism from industry leaders, and escalated trade tensions with China. Whether the administration listens to the chorus of concerns — or continues to press forward — remains to be seen, but the economic and diplomatic stakes are growing by the day.