“The misguided tariffs of Richard Nixon and William McKinley, and even the Smoot-Hawley Act of 1930, are nothing compared with what Donald Trump is implementing. There is no precedent for what the world is about to experience…” www.economist.com/finance-and-...
Which means there is no precedent to how our citizens react.
Imagine being a US cosmetics formulator. Employing lots of people to make products for US and export markets. However, 50% of the raw materials are from Asia. Now you face a 50% increase in prices from tariffs. With few US suppliers, they hike prices and have shortages. So no chance to rectify. Boom
Surely you don't expect him to know history or economics. Or math. Or science. Or geography. Or law. Or ethics. Or civics. Or how the govt works. He only knows greed and bullying.
Looks like an interesting article, too bad about the pay wall.
Ah, shoot
He just caved, with a 90 day pause (except for China). That said, with a 125% tariff on goods from China, don't expect prices to go down on much since so much of the less expensive items we have gotten used to come from there.
It’s almost like he has no idea how anything works. Weird, right?
True, and American made products prices will skyrocket when people are forced to buy them. Americans should have the option to buy American not forced by taxes.
The tariff fuckery will continue. The market manipulation will continue. The rest of the world will boycott us regardless. A recession is going to happen. We're a joke in a global economy, and it will hurt average American citizens the most.
With Trump announcing a 90 day freeze, smart countries will leave theirs in place.
"It's the stupidity, economists!"
Good share. Thanks.
Trump is holding the entire world hostage