#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. "
Edited 223d ago
tariffs
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)
Edited 154d ago
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
Edited 284d ago
#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
Edited 104d ago
“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
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Via Angry Staffer:
I was thinking that none of those numbers made sense, but holy fuck this is insane
Edited 225d ago
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.
Edited 231d ago
So, Trump announced a bunch of tariffs today. Basically everybody but Russia.
But then there is 15-30 % for everybody. But Lesotho? Fuck Lesotho in particular, apparently. 50% tariffs.
Just by a super coincidence, seems like Starlink is trying to get a contract in Lesotho and having some difficulties. Clearly unrelated.
#Tariffs #Trump #ElonMusk #Tesla ##Twitter #SpaceX #politics
U.S. #stocks tumble on global #TradeWar fears over new #tariffs
#Trump's sweeping tariff announcement Wednesday triggered a sharp drop in U.S. stock markets, a flashing-red warning sign of the economic fallout that's expected to result from the widening trade war.
The Dow Jones Industrial Average tumbled over 1,200 points, or 2.9%, Thursday within minutes of the opening bell. The broader S&P 500 index sank 3.4%.
#economy #recession #trumpcession
https://www.npr.org/2025/04/03/nx-s1-5350576/u-s-stocks-fall-tariffs-global-trade-war
CNN's graphic depiction as of 9:05 A.M. EST of what's happening to the stock market after the man running the show crashed it, with his party cheering the crash on and 77 million Americans voting to accomplish this.
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #MobBoss #stupidity #incompetence #destruction
/1
Edited 223d ago
“Federal Reserve Chair Jerome Powell said that the #tariffs, and their impacts on the economy and inflation, are “significantly larger than expected.” He also said that the import taxes are “highly likely” to lead to “at least a temporary rise in inflation,” but added that “it is also possible that the effects could be more persistent.” #TrumpTax #Trumpflation
https://thereport.be/article/?app=breaking&u=https%3A%2F%2Fapnews.com%2Farticle%2Ftariffs-inflation-economy-trump-powell-490417656971634592bbeb3b2ade3593%3Ftaid%3D67f000563e9bc50001a7dab1
As Trump’s tariffs send the world reeling, the European Union is declaring a new strategic partnership with Central Asia. Read more from @euronews
https://flip.it/nqLBF3
#Trump #Asia #CentralAsia #Tariffs #Trade
#TACO #Trump always chickens out.
🐔🌮
Aaron Rupar:
Trump gives away the game that there is literally no process to his tariff announcements beyond the half-baked thoughts flitting through his head:
Trump on the announcement he just made to increase steel #tariffs to 50%: "I said to the group, 'Would you rather have a 40% increase?' Because I was thinking about 40 when I came. I said, 'Would you rather have a 40% or a 50%?' They said, 'Well take 50!' ... so congratulations."
This may come sound callous, but the information environment is so bad that I'm actually happy that Trump's crashing the economy.
There are a lot of people who don't give a shit about students being disappeared by secret police for WrongThink but care very much about their IRAs and grocery bills.
We'd be in a far worse position if #Trump had kept Biden's recovery rolling and took credit for it while blowing up our checks and balances destroying the rule of law.
#tariffs #fascism #media
Edited 221d ago
Take THAT.
“Britain & European Union are set to sign a formal declaration committing to “free and open trade” in defiance of #Trump ’s #tariffs agenda.
A leaked draft promises “new strategic partnership” between London & Brussels based on “maintaining global economic stability & our mutual commitment to free & open trade.” #TrumpTax
https://www.politico.eu/article/uk-eu-defy-trump-free-open-trade-declaration/
"I believe that the administration’s metastasizing economic catasrophe is a critical development.
As I read the history of successful autogolpes, politicians who win an election and then effectively destroy the democracy that elevated them, it is almost always the case that their consolidation of power rests upon the perception of economic achievement."
~ Paul Krugman
#Trump #tariffs #economy #recession #StockMarket
/1
https://paulkrugman.substack.com/p/did-peter-navarro-save-democracy
“ #Trump 's Trade War With #China Is Now Hurting Hollywood—and US Soft Power
On Thursday, Chinese officials retaliated against Trump’s #tariffs by imposing new restrictions on US movies. That’s a big blow to America’s cultural cachet in the nation” #TrumpTax
https://www.wired.com/story/trumps-trade-war-with-china-is-now-hurting-hollywood-and-us-soft-power/