Most notably President Trump’s tariff war is that he has been under pressure from some of his closest advisers and supporters to end the crusades that strengthened the world economy.
Not only Ben Shapiro, Rich Lowry, Ben Domenech and Wall Street Journal Editorial Page, media conservatives. Long-time wealthy donors like Ken Langone, co-founder of Home Depot, condemned the tariffs and took Vietnam’s 46% tax as an example of “Bull ****”, telling the Financial Times that “everyone is afraid of now is a trade war.”
“The consequences for our country and millions of citizens who support the president will be seriously negative,” said another billionaire from hedge fund investor Bill Ackman. “Whether the tariff menu is causing a recession is still problematic, but it will slow growth.”
White House says Beijing missed deadline for raising retaliatory tariffs, with the U.S. raising Chinese tariffs to 104%
The most famous defector is Elon Musk, who, according to the Washington Post, privately urged Trump not to continue the high tariffs. Now he has made it public:
“Ideally, both Europe and the United States should be in a zero-time situation and effectively establish a free trade zone between Europe and North America.” Even the wealthiest people and chief budget cutters in the world could not convince the boss, and he was not on the reservation.
Musk also filmed on Peter Navarro on the White House’s most powerful tariff booster, calling him a “real idiot”, “a fool, not a bag of bricks”, and among the stings of a particularly teenager, “Peter Navardo.”
In addition to litigating President Trump’s tariffs, Elon Musk has made some rhetoric on the firm pro-pricing Peter Navarro. (AP)
The aforementioned Navarro, you will be happy to hear the fox and promise not to decline. Therefore, you can all return to your regular breathing.
After yesterday’s outbreak time ran out of gasoline, it didn’t help Trump after the early rally of the outbreak, and the Dow fell by 320 points after a sharp drop, giving people’s stock holdings and 401 ks the upper hand. By the way, the Constitution says that Congress is responsible for tariffs.
Few people are safe, including Bibi Netanyahu, who came to the White House in a ringing gesture on Monday, levying no taxes on the United States, but is still subject to a 17% tariff rate. Oppose Israel, our chief allies in the Middle East and the only democratic country in the region?
The upgrade with our biggest rival China is foreseeable. Trump attacked Beijing with 54% tariffs (including the earlier 20% tax). As promised, Beijing has a tariff of 34% on U.S. goods, fighting so-called blackmail.
If the character is reversed, won’t we do the exact same thing?
But Trump’s behavior seemed to have been personally insulted and now vowed to impose a 50% tariff on the Chinese. This is how the trade war is out of control. China has cut off negotiations to sell Tiktok to U.S. owners.
Media mistakes have also contributed to market volatility. Bloomberg on Monday – that is, the person identified as Walter Bloomberg has no contact with any news media) posted this: “Hassett: Trump is considering a 90-day suspension of tariffs on all countries except China.”
Media lapses — including one claiming that White House Economic Commission director Kevin Hassett said Trump is considering a 90-day moratorium on tariffs — will only exacerbate market volatility. (Andrew Harrer/Bloomberg by Getty Image)
This is from the stock market. Except for White House Economic Commission Director Kevin Hassett, who never said that.
But CNBC morning host Carl Quintanilla told the audience: “I think we can choose this title. Obviously, Hassett is saying that Trump will consider the cost of 90 days in all countries except China.”
Then, Reuters ran with the title: “Wall Street reversed the course after Hassett’s comment on the tariff suspension.”
Hassett actually said that when asked on Fox whether Trump would consider a 90-day tariff pause: “I think the president will decide what the president wants to decide.” It’s not exactly the same. But the market soared.
Wire Service later admitted a mistake: “Reuters withdrew the incorrect report and regretted its mistake.”
Trump is following his third term and has been attacking elite institutions – many are in trouble
A CNBC spokesman later said: “When we chased the market news in real time, we aired unproven information on the banner. Our reporters quickly corrected it.”
Meghan McCain has posted a wider swipe to the media: “There are a lot of hypocritical people on TV who don’t care about losing money or falling into financial pain.
“One of my best friends would buy her grocery store based on coupons at each store to buy for her family. I assure you that recessions or huge price increases everywhere are different for her family.”
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Is there an exit ramp? White House officials said 70 countries have been in contact to seek a negotiated solution. Of course, some people do this on Liberation Day. The president can reach many settlements, declare victory and attribute it to his tariff war.
Currently, he is reluctant to do so, and has proposed the idea of tariffs since the 1980s and has repeatedly promised this approach during last year’s campaign.
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I wrote a book on Wall Street and on the media, talking to many top traders as well as business hosts and commentators. I understand the triggering nature of culture. Everyone wants Donald Trump to impose high tariffs, just not at the stratosphere level.
