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6th April 2025
05:14pm BST
Former President Barack Obama has issued a blunt 8-word statement following US President Donald Trump's tariff introductions.
The former President spoke out about the controversial tariff plans put in place by the 78-year-old.
Speaking at Hamilton College, New York, the former President made a very telling remark on the tariff developments: “Imagine if I had done any of this?”
An array of tariffs were announced earlier this week, with the US President labelling the day 'Liberation Day'.
"April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to 'Make America Wealthy Again'," said President Trump.
He added: "For decades our country has been looted, pillaged, raped and plundered by nations, near and far, from both friend and foe alike."
The new policy imposes a universal 10% tariff on all imports, with higher rates for 60 countries identified by the Trump administration as 'worst offenders'.
Some notable figures include South Africa at 30%, Vietnam at 46%, and China facing a steep 34% tariff.
There is already turmoil in financial markets, with the Dow Jones Industrial Average dropping 5.5%, the S&P 500 6%, and the Nasdaq Composite almost hitting bear market territory.
Investors have expressed their fears of a possible recession due to rising costs for businesses and consumers.
Former President Barack Obama gave his opinion on the progressions during an appearance at Hamilton College in Clinton, New York.
"I have deep differences of opinion with my most immediate successor — who's now president once again.
"I don't think what we just witnessed in terms of economic policy and tariffs is going to be good for America," he stated.
Additionally, he expressed wider concerns over the current administration, saying: "I'm more deeply concerned with a federal government that threatens universities if they don't give up students who are exercising their right to free speech.
"I am more troubled by the idea that a White House can say to law firms, ‘If you represent parties that we don’t like, we’re going to pull all our business or bar you from representing people effectively," he continued.
