Trump faces backlash from business as tariffs ignite inflation fears
Trump faces backlash from business as tariffs ignite inflation fears
Experts warn aggressive trade measures against US allies will hurt consumers and roil supply chains
Summary
Trump’s new tariffs on Canada, Mexico, and China sparked backlash from business groups, economists, and some Republicans, who warn of rising prices and economic disruption.
The tariffs—25% on Canadian and Mexican imports and 10% on Chinese goods—prompted retaliatory measures from Canada and Mexico.
Critics, including the US Chamber of Commerce, call them a tax on American consumers. Economists estimate a $200 billion hit to the US economy, with inflation rising.
Trump defended the move, even suggesting Canada should become the US’s “51st state.”
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The fuck did they think was going to happen?
Collapse the country so he and his buddies can make a killing, no doubt.
They would make more money by operating as normal. Collapsing the stock market is going to make it worse for them.
These are the guys who thought tariffs and alienating a good chunk of the population were a great idea. They're not in it for the long run, only the 4-year cash grab.
Not on the long run, and not by the rules they're playing by now.
Top 10 richest men in America doubled their total wealth during the COVID downturn. From 750bn to 1.5tn. DOUBLED IN TWO YEARS.
Market collapses allow those with the most current assets buy up everyone else's assets at fire sale prices, and raid the government coffers for "bail out" money. They want that scenario to repeat, only now with a much, much deeper, country-wide drop than the temporary Covid bump.
How does doubling wealth matter if the systems that give their wealth any value crumble?
"Wealth" as described in terms of US dollars is just an imaginary accounting measure. And it hasn't really "meant" anything since the death of Bretton-Woods and the removal of the gold standard.
That wealth the richest hold is assets. Physical things. Control of physical things. Control of entire populations and their ability to survive.
The fed could change the accounting to Bitcoin tomorrow and would not change the fact that those top 10 richest men control a vast majority of our nation. But that's not enough, no, they want to control all of it.
It only works if America recovers in his lifetime, of course.
This is the result of a mind that has been fed the myth of "American Exceptionalism" since day one and has never had to suffer the consequences of his actions.
Eh, didn't he piss off American banks so bad he went to Russia for continued financing for his
business dealsuninterrupted largesse?Besides, his father was first generation citizen, his mother was an immigrant. So, no, that's got nothing to do with his motivation here. It fits, however, with getting his
loyal supportersdupes to keep supporting him.