trumptax
#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. "
#TrumpTax on Americans.
Via âȘAaron Rupar:
[SpoxBarbie] Leavitt: "The president will be implementing tomorrow 25 percent #tariffs on #Mexico, 25 percent on #Canada, and a 10 percent tariff on #China."
ADDED (At least they asked!):
REPORTER: Can you guarantee that those tariffs won't increase prices for Americans, including at the gas pump and grocery store?
LEAVITT: I think Americans who are concerned about increased prices should look at what President [sic] Trump did during his first term
Consumer confidence plummets to lowest level since January 2021
#Trump â #tariffs on steel & aluminum âwill not go unanswered,â Eur. Union chief vowed on TuesâŠwill trigger tough countermeasures from the 27-nation bloc. It means iconic U.S. industries like bourbon, jeans, peanut butter, motorcycles should bewareâ #TrumpTax
https://apnews.com/article/eu-us-tariffs-trump-trade-war-leyen-0b23d25d30428eb288b79bfda4fa25e9
đđđ
Via Aaron Fritschner:
Republicans snuck a provision into the rule for the CR that would preemptively surrender congressional authority to block #tariffs.
When House Republicans vote for this rule today, they will also be voting to support #Trump's tariffs and all the resulting damage to the US economy #TrumpTax
Via Angry Staffer:
I was thinking that none of those numbers made sense, but holy fuck this is insane
âFederal Reserve Chair Jerome Powell said that the #tariffs, and their impacts on the economy and inflation, are âsignificantly larger than expected.â He also said that the import taxes are âhighly likelyâ to lead to âat least a temporary rise in inflation,â but added that âit is also possible that the effects could be more persistent.â #TrumpTax #Trumpflation
https://thereport.be/article/?app=breaking&u=https%3A%2F%2Fapnews.com%2Farticle%2Ftariffs-inflation-economy-trump-powell-490417656971634592bbeb3b2ade3593%3Ftaid%3D67f000563e9bc50001a7dab1
Thud, as Dud golfs
Via Scott MacFarlane:
DOW drops 2,000
#Trump not scheduled to speak to the nation
#TrumpCrash #tariffs #TrumpTax
#TACO #Trump always chickens out.
đđź
âȘAaron RuparâŹ:
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."
Via Carl Quintanilla:
TELSEY begins tracking price increases over the past week. Some highlights:
* Abercrombie jeans: up 33%
* Amazon Echo: up 38.5%
* Target / Barbie doll: up 42.9%
As @emptywheel points out: " #Trump making it more expensive to plunge the shit that is clogging your toilet, quite literally."
Take THAT.
âBritain & European Union are set to sign a formal declaration committing to âfree and open tradeâ in defiance of #Trump âs #tariffs agenda.
A leaked draft promises ânew strategic partnershipâ between London & Brussels based on âmaintaining global economic stability & our mutual commitment to free & open trade.â #TrumpTax
https://www.politico.eu/article/uk-eu-defy-trump-free-open-trade-declaration/
â #Trump 's Trade War With #China Is Now Hurting Hollywoodâand US Soft Power
On Thursday, Chinese officials retaliated against Trumpâs #tariffs by imposing new restrictions on US movies. Thatâs a big blow to Americaâs cultural cachet in the nationâ #TrumpTax
https://www.wired.com/story/trumps-trade-war-with-china-is-now-hurting-hollywood-and-us-soft-power/
Of course.
"A Senate vote to scrap #Trumpâs wide-ranging âLiberation Dayâ #tariffs narrowly failed on Wednesday, sparing Republicans a second consecutive blow as the presidentâs trade policy continues to face opposition."
https://thereport.be/article/?app=breaking&u=https%3A%2F%2Ftrib.al%2FqXlfHpk
â #Trump admin exempted smartphones, computers and other electronics from its so-called reciprocal #tariffs, potentially cushioning consumers from sticker shock while benefiting electronics giants including Apple Inc. and Samsung Electronics Co.â #TrumpTax
https://www.bloomberg.com/news/articles/2025-04-12/trump-exempts-phones-computers-chips-from-reciprocal-tariffs
âȘBloomberg NewsâŹ:
Apple CEO Tim Cook said that planned US #tariffs on foreign imports will add $900 million in costs in the current period
" #Canada 's finance ministry said it will give its country's businesses a six-month relief from #tariffs on certain U.S. goods imports, but warned this temporary measure should be used to "adjust their supply chains and prioritize domestic sources". #TrumpTax
https://www.newsweek.com/canada-gives-new-lifeline-trump-tariffs-2059964
Via MSNBC:
BREAKING: Supreme Court won't immediately take up Trump tariffs case
The OECD has slashed its outlook for global output as Donald #Trump's trade war saps momentum in leading economiesâ Financial Times
https://www.cbsnews.com/news/oecd-us-economic-forecast-trump-tariffs-2025-2026/
Thud
"Dow tumbles by more than 800 points and bonds fall as concerns rise over Americaâs status as a safe place to invest
Dow closed -817, or 1.91%. S&P 500 -1.61% Nasdaq Composite -1.41%. The 3 major indexes each posted their worst day in one month" https://www.cnn.com/2025/05/21/investing/us-stock-market-bonds?cid=ios_app
"Can makers."
Your grocery bills âŹïžđž
You remember groceries, right? "A bag with different things in it"
NYT:
Home builders, car manufacturers and can makers are among those that will see higher prices for materials after #Trump raised tariffs on steel and aluminum imports to 50%.