Now he has started trade wars with 25% tariffs (taxes) on goods from Canada and Mexico. 10% tax on goods from China.
Beginning this weekend, Americans, whether they support Trump or not, may experience some sticker shock if they go shopping.
I’m starting to think he was lying to the American electorate!
Global markets are set for a fresh jolt on Monday after U.S. President Donald Trump launched a trade war with sweeping tariffs on Canada, Mexico and China that threaten to undermine economic growth and reignite inflation.
With Mexico and Canada - the U.S.'s top two trading partners - vowing immediate retaliation and China saying it would take "counter measures", the scene was set for a round of turbulence.
Markets were dealt a blow last week as the emergence of China's DeepSeek AI model hit tech stocks, and uncertainty around Trump tariffs has weighed on broader markets.
The risk of a global trade war could hurt U.S. corporate profits and pressure inflation, potentially upending U.S. interest rate cut expectations, and further weaken currencies such as the Canadian dollar and China's yuan.
"I do think the markets are going to react to this," said Mark Malek, chief investment officer at Siebert Financial in New York. "Until now the market has really been on Trump's side, but that could change and the market could challenge him for the first time."
In three executive orders, Trump imposed 25% tariffs on Mexican and most Canadian imports and 10% on goods from China, starting on Tuesday.
Why is Trump raising prices on the average American consumer? It’s totally opposite of what he said he was going to do if elected.
Trump is a chronic liar who cannot be trusted. He is a malignant narcissist who cares only about self enrichment. To reward the super rich with income tax cuts, he pursues spending cuts and increases tariffs at expense of poor and middle class Americans. Before election, economists warn that his policies are mostly inflationary with more risk of deficits and recession. Democracy depends on informed voters but Trump war on truth has mislead voters.
This morning DEI hire Kristi "Don't Call Me Barbie" Noem said this about tariffs.
"Trump will not be responsible for potential price hikes because of "other people's" reactions & they will be to blame if American consumers feel squeezed by tariffs."
Yup, blame others for his stupid knee jerk reactions.
BTW Kristi..take off the ridiculous cowboy hat. You looked foolish with the bomber jackets & your ICE vest in NYC. Enough with the costume changes.
The other big one was the No Tax on Tips that he got some good feedback on or something so that made his list of lies also. As you know that has not been mention since Nov5, it is now same as Jan6 imo, but he never intended that but I think they fell for it in Nevada. I was tending bar during the change and got to see it live how whoever was running the WH for Reagan went after higher % every year until they had it to every thing on paper is reported to IRS. That one would cost so much money now the rich would never get the cuts rump is looking for.
Good news is best thing that happened for me.
Go to the lumberyard
@LSU0626
All the American consumers and soon to be out of work carpenters will be crying. And why? Because Trump is a pathological liar.
Red state-Blue state, every state is going to be forced to pay for Trump’s scamming and scheming.
And what will Trump do?
Blame the minorities or deep state or Biden or Obama. Trump’s scapegoating knows no boundaries.
A model gauging the economic impact of Trump's tariff plan from EY Chief Economist Greg Daco suggests it would reduce U.S. economic growth by 1.5 percentage points this year, throw Canada and Mexico into recession and usher in "stagflation" - high inflation, stagnant economic growth and elevated unemployment - at home.
Trump's move was the first strike in a what could be a destructive global trade war that would result in a surge in U.S. inflation that would "come even faster and be larger than we initially expected," said Paul Ashworth of Capital Economics.
Financial markets were closed for the weekend so the measures will initially be felt when U.S. stock futures trading starts at 6 p.m. ET (2300 GMT) on Sunday.
Earlier today the Donald posted this...
“We don’t need anything they have. We have unlimited Energy, should make our own Cars, and have more Lumber than we can ever use. Without this massive subsidy, Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada — AND NO TARIFFS!”
Last year, the US imported over $400 billion worth of oil, autos, auto parts, lumber, food, and other goods from Canada.
I don't care who it is but someone needs to stop this madman.
THE CIRCUS RINGLEADER:
LA Times reports that THE Donald's idiotic PR stunt to order the release of water from two dams in CA could hurt farmers this summer. The U.S. Army Corps of Engineers released a massive amount of water from two dams into river channels along farms in the San Joaquin Valley. The Donald posted a photo this weekend on Truth Social: “Photo of beautiful water flow that I just opened in CA. Today, 1.6 billion gallons and, in 3 days, it will be 5.2 billion gallons. Everybody should be happy about this long fought Victory! I only wish they listened to me 6 years ago — There would have been no fire!” Ahhh, but there's a little problem...
The two reservoirs hold water for agricultural irrigation districts, and winter is not the time when farms in the area need water so it is no use to them right now. Water scientist Peter Gleick told The Times: “I don’t know where this water is going, but this is the wrong time of year to be releasing water from these reservoirs. It’s vitally important that we fill our reservoirs in the rainy season so water is available for farms and cities later in the summer. I think it’s very strange and it’s disturbing that, after decades of careful local, state and federal coordination, some federal agencies are starting to unilaterally manipulate CA’s water supply.” This takes water out of their summer irrigation portfolio.”
But the dipshit got involved & fucked up!
One of the dumbest moves in recent history.
not an expert on the lumber industry but I can tell you this, in New York State there are at least dozens of log trucks everyday going up to Canada up I87. During covid lockdowns it was unreal to see all this US timber going north and not coming back anytime soon. I guess that is where the pressure treated lumber is made in the northeast region. Which that in itself is stupid because the older pressure treated wood from the 80s is still not rotted in proper builds but the 5/4" on my back deck from 2019 needs to go thru a plainer already. with the less harmful chemicals in the pressure treated wood now, you basically need to have 2x6 boards for decking and not 5/4" unless you like working on your deck every 4 years.
my point is the US lumber doesn't need to go to Canada for processing if both countries are going to nickel and dime each other.
They don't want our bourbon either, that's ok send me the pappy that's been going north!! I will gladly take any and all Buffalo Trace or Sazerac that the hosers don't want to drink while clearing the ice down. maybe there will be more Weller on the shelfs here, that's a good silver lining resulting from a dumb policy
Do we really think much Pappy is going north?
Despite self sufficiency, US still buys from other countries because it is advantageous. Average American saves thousands of dollars each year because of international trade. Without trade, there would be more unemployment, inflation and lower economic growth. Fewer US cars and other goods would be sold worldwide.
As Monica Morlacco, an assistant professor of economics at the University of Southern California, previously told HuffPost, “Trump’s proposed tariff policies, especially at higher rates, would disproportionately harm middle- and low-income Americans while failing to deliver meaningful economic benefits.”
The tariffs harm Trump voters the most.
Let that sink in………..and they’ll still defend him!
@UNIMAN
Wow 10,000 troops will for sure make a massive difference. Have you spent any time on the other side of the border and understand the conditions that exist?
10k is a drop in the bucket it is a meaningless endeavor that will accomplish nothing. The military in Mexico is unstructured and often controlled by the cartels, but hey its progress and who does not like meaningless progress?
@scooby-doos
Lip service, nothing else. Even organized and efficient US troops at 10k is of literally zero impact. On the US side I would estimate just based on geography that we would need a regular, rotating profile of 250k skilled and organized troops to make any dent and that is only in the highly populated border crossing points, not the full length of the border.
10k is a knee slapper especially being from the other side and the problems they have with the military.
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