Former President Barack Obama has criticized President Donald Trump’s new tariff plan, announced on April 2, 2025, which imposes a 10% tariff on all imports and higher rates for 60 countries, including China at 34%. The move has caused turmoil in financial markets, with the Dow Jones falling 5.5% and the S&P 500 down 6%. Obama expressed concerns about the economic impact, stating he disagrees with the current administration’s policies and warned that such measures could harm the U.S. economy. Senate Minority Leader Chuck Schumer also voiced apprehension, citing the unpredictability of Trump’s decisions. In response, China announced a 34% retaliatory tariff on all U.S. imports starting April 10
