Wesfarmers Ltd (ASX: WES) shares reached a new all-time high of $80.29 on Friday, up 0.73% on yesterday's close.

This ASX 200 blue-chip share has ridden the rebound since the 90-day reprieve on US reciprocal tariffs was announced.

The ASX 200 was smashed after US President Donald Trump revealed various tariffs on US trading partners.

Our market fell to a closing nadir of 7,343.3 points on 7 April. At that point, the benchmark was 14.3% below its most recent peak.

And that was the best day to buy Wesfarmers shares if you were looking to buy the dip.

Buying the dip on Wesfarmers shares pays off!

Wesfarmers closed at $68.53 apiece on 7 April, having fallen 7.22% since the tariffs were announced.

That was the best day possible to buy the dip, so if you made that decision on 7 April or thereabouts, well done!

It's certainly paid off.

Wesfarmers shares have risen by 17.16% in just over one month. That's an incredible return on investment.

Let's look at it in dollar terms.

Say you invested $10,000 in Wesfarmers shares on 7 April at $68.53 apiece.

That would have bought you 145 Wesfarmers shares (for $9,936.85).

Today, your Wesfarmers shares were worth $11,642.05 at their intraday high.

You've made $1,705.20 in just a month, and all you had to do was notice the market sell-off, hit the buy button, and sit back and wait.

Also, notice how this blue-chip share's rebound was much stronger than its fall.

Wesfarmers shares fell 7.22%, then rebounded 17.16% during this tariff-inspired turmoil.

That sort of thing is not uncommon in a market rebound.

Wesfarmers shares provide a great example of how lucrative (and fun!) buying the dip on ASX 200 blue-chip shares can be.

When the broader market dips, as it did with the tariff announcement, the blue chips get dragged down with the general trend.

This is despite no change in their businesses. They simply fall in value along with the rest of the market because investors are nervous.

This is a great time to buy them.

Taking advantage of a market dip

Buying ASX 200 blue-chip shares is inherently less risky because they are large, well-established companies with reliable revenue streams.

Investors may choose to open a new position in a blue chip or buy to lower the dollar-cost average of their existing holdings.

Besides Wesfarmers shares, there are many other buy-the-dip success stories to look at over the past month.

My colleague Bernd recently wrote about Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) shares.

Investors who bought the dip on these blue-chip bank stocks have received handsome returns of 15.18% and 11%, respectively.