Who’s a Panican?
The post has since triggered widespread reaction online, but it is the word “Panican”—a Trump original—that has caught global attention.The US President has coined the term to mock those “freaking out” over his sweeping new tariff policy, according to a report by the Washington Times.
Classic Trump—equal parts jab, branding, and drama
In a series of posts on Truth Social, Trump doubled down on his controversial tariff plan, insisting it is a long-overdue correction. The policy, announced last week, imposes a flat 10% tariff on all US trading partners, with additional, steeper tariffs targeting countries like China.
Defending the move, Trump wrote, “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place.”
He further slammed China’s decision to retaliate by raising its own tariffs by 34%, calling the country “the biggest abuser of them all.” He added, “They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past ‘leaders’ are to blame for allowing this, and so much else, to happen to our Country.”
Dow Jones nosedives
The economic fallout has been immediate and brutal. The Dow Jones Industrial Average nosedived 1,500 points within minutes of Monday’s opening. This comes on top of an already staggering 4,000-point drop over the last two trading days after Trump’s announcement.
Nevertheless, Trump remains bullish, telling reporters on Sunday that the tariffs will “make the US $1 trillion by next year.”
While the White House has called the policy a push for “economic justice” that will bring back American jobs, critics remain unconvinced.
Panic spreads even among Trump supporters
Billionaire investor and Trump supporter Bill Ackman warned the tariffs could “collapse the economy” and hurt Trump’s own voter base the most.
CNBC host Jim Cramer echoed the sentiment, suggesting that if the policy continues, the market could see a collapse akin to Black Monday in 1987.
JPMorgan Chase, opens new tab CEO Jamie Dimon has warned that trade wars could have lasting negative consequences, days after he and other US bank CEOs met with Commerce Secretary Howard Lutnick to discuss the administration’s sweeping tariffs.
As for “Panican,” it remains to be seen whether it has already become part of the Trump political lexicon or will eventually fade away.
With inputs from agencies
