tariffs
"In the days before #Trump suddenly paused most of the punishing #tariffs on foreign countries he had revealed in early April, more than a dozen congressional lawmakers were tied to 1000s of $worth of stock transactions, incl significant purchases as stock market tumbled"
https://www.cnn.com/2025/06/11/politics/congress-stock-market-trading-trump?cid=ios_app
Lol, Mitch dumps water all over Trump's tariff BS:
Via Igor Bobic:
Whoa: McConnell answered a #Trump question today, on his tariff proposals
“I'm not a fan of #tariffs. They raise the prices for American consumers. I'm more of a free trade kind of Republican that remembers how many jobs were created by the export that we engage in,” he said
#Walmart's announcement today that it plans to raise #prices is expected to open the floodgates for #retail price hikes.
The world's largest retailer—whose brand is inextricably linked to low prices & affordability—said despite the #China #trade deal earlier this week it is too late to avoid higher #costs for #consumers.
#Trump #tariffs #economy #inflation #recession
https://www.axios.com/2025/05/15/walmart-store-prices-trump-tariffs
Remember when #Trump had to subsidize US farmers because his trade war with China caused the country to put retaliatory #tariffs on soy (and other agricultural products)?
Imagine that amplified 1000X and involving multiple countries and various products & industries (beyond agriculture).
And Trump plans to act without Congress, which he has done before and will do again (only likely worse because he will have nothing to lose).
1 / 6 🧵
(& bonus)
I’ve seen dozens of stories pointing out that Trump’s tariffs would raise the price of imported goods but few that mention how countervailing duties would also make our exports uncompetitive.
Some companies might move their factories here but industries that export would be fucked. Is this too hard to explain?
#Election2024 #trump #media #tariffs #evonomy
A #Reminder from #FerrisBuellersDayOff to #TeamTrump and the rest of #GOP how that works
I hate when websites don’t let you copy/paste. #Canada #Trump #Tariffs
https://www.cbc.ca/news/canada/toronto/ford-trump-tariffs-canada-reaction-1.7393414
#TrumpCrash #TrumpTax #tariffs
Closing.
THUD.
Added: via Bloomberg, "The S&P ended the week down 9.1%, the biggest decline since March 2020, while the Nasdaq 100 entered a bear market. "
They spelled “tax Americans” wrong
“Trump Says He’ll Impose #Canada, #Mexico With 25% #Tariffs on Feb. 1” - Bloomberg https://www.bloomberg.com/news/articles/2025-01-30/trump-says-he-ll-hit-canada-mexico-with-25-tariffs-on-saturday
What's this?
Orange juice for one cent?
These are #Canadian shelves, and these are #American products
This is at a Loblaws in #Ontario, photo taken on Monday
#Canada retailers pretty much have to give #USA products away as Canadians #boycott the #US and #Trump's bellicose verbal diarrhea and #tariffs
#Florida #citrus growers: you voted for this
(ps:
the food banks don't have any room for this juice, because so much unsold American food is already going to the food banks)
Meanwhile, in the normal world:
"#Ecuador president says new #trade deal with #Canada finalized"
Apparently, #Trump admires President #McKinley's #tariffs (same guy Trump replaced #Denali's name with)
This fucking moron is trying to recreate antiquated #protectionist bullshit from the #GildedAge that doesn't work in the modern world
#China will expand its trade
Canada and Ecuador and others will bypass the #USA
And the USA will suffer mightily
So fucking stupid
#Trump “ #tariffs on steel & aluminum “will not go unanswered,” Eur. Union chief vowed on Tues…will trigger tough countermeasures from the 27-nation bloc. It means iconic U.S. industries like bourbon, jeans, peanut butter, motorcycles should beware” #TrumpTax
https://apnews.com/article/eu-us-tariffs-trump-trade-war-leyen-0b23d25d30428eb288b79bfda4fa25e9
BREAKING:
Jobs report shows a MAJOR SLOWDOWN in labor market since Trump announced tariffs in April.
We can now compare the first 6 months of Trump with the final 6 months of Biden, and it's no comparison.
Over a million jobs created under Biden, less than half that under Trump.
#Trump #Recession #Economy #Unemployment #Tariffs #Jobs #USPol
“In Canada, a slew of apps has emerged with names such as “buy beaver”, “maple scan” and “is this Canadian” to allow shoppers to scan QR barcodes and reject US produce from alcohol to pizza toppings.”
#trump #fascism #elonmusk #tariffs #TrumpRecession
https://www.theguardian.com/us-news/2025/mar/12/i-feel-utter-anger-from-canada-to-europe-a-movement-to-boycott-us-goods-is-spreading
"We have downgraded our 2025 US GDP growth forecast from 2.4% at the start of the year to 1.7% now (both on a Q4/Q4 basis). ...The reason for the downgrade is that our trade policy assumptions have become considerably more adverse and the administration is managing expectations towards tariff-induced near-term economic weakness."
-Goldman Sachs
Wall Street is telling the #TrumpMusk regime that its approach is wrong, it must make an about face.
#Recession #Tariffs #USPol https://www.bbc.com/news/articles/cz61nn99eg1o
The world’s most widely followed #StockMarket benchmark slid into a correction on Thurs, a drop that underscores how the 2-yr-long bull market [#Bidenomics] is running out of steam in the early days of the #Trump admin.
The move stems from investors’ growing pessimism about the whipsawing policy pronouncements from Trump over the past few weeks. On-again, off-again #tariffs & #MassLayoffs of #FederalWorkers have fomented unease on #WallStreet.
#economy #Trumpcession
https://www.nytimes.com/2025/03/13/business/sp-500-stocks-market-correction.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=2AF81A08-DB10-4E54-BA71-32F938B4D01C
#FederalReserve Chair #JeromePowell is speaking
Says #Trump #tariffs were far higher than expected & that larger than expected tariffs mean higher #inflation, slower growth.
"We face a highly uncertain outlook with elevated risks of both higher #unemployment & higher inflation," undermining both of the #Fed's mandates of 2% inflation & maximum employment, Powell said in prepared remarks for a business journalists' conference.
As boring as this topic may be and resentful as we may be that this man continues dominating news cycles, it's impossible to avoid either, because the damage is ongoing.
Heather Cox Richardson writes,
"The stock market continued to fall today. The Dow Jones Industrial Average fell another 478 points, or 1.14%; the S&P 500 fell almost 0.8%; & the Nasdaq Composite fell almost 0.2%."
#Musk #Trump #economy #stagflation #recession #StockMarket #billionaires #tariffs
/1
Via Angry Staffer:
I was thinking that none of those numbers made sense, but holy fuck this is insane
I made this as an educational video to explain to people who are uninformed, and willing to hear what #tariffs do:
For anyone here who doesn't know-
They don't make your country money. They are designed to stop a country from trading with you, and go somewhere else, either as a consequence, or because they are overwhelming your own local market that you wish to maintain.
They COST the imposing country money.