Madman Trump is at it again
The DOW futures plummeted more than 200 points in May, 2019 after “wanna be king” Trump announced plans to impose tariffs on Mexico until the flow of immigrants to the southern U.S. border is cut off. If we’ve said it once, we’ve said it a thousand times: tariffs are nothing more than a tax on American citizens collected at the border. Punitive action by a president against fellow Americans is unconscionable. This is not “government of the people, by the people, for the people” as defined in Abraham Lincoln’s Gettysburg Address. Trump has become the “enemy of the people” — nothing more, nothing less. The time for him to be ousted is long overdue.
On 7/19/19, Jim Cramer of CNBC’s “Squawk on the Street” said companies are blaming Trump's use of tariffs, not Federal Reserve rates, as the reason behind the slowing U.S. economy.
Trump's Tariffs Stung Consumers While Benefiting Large Corporations
This is a case study in how a measure intended to help domestic factory workers has rebounded negatively on American consumers, creating unexpected costs and leaving shoppers with a sky-high bill for every factory job created. Read it here. Washing machines and dryers are now costing American citizens on average 12% more than before Trump’s tariffs were imposed. We have said it over and over that tariffs are nothing more than taxes on Americans collected at the border. This is proof.
Trump's Tariffs Are Moving American Jobs Offshore
Trump’s Tariffs Are Moving American Jobs Offshore! We have repeatedly said that tariffs are only taxes on Americans collected at the border. Now we’re seeing the truth in that statement.
EBW Electronics in Holland, Michigan, a manufacturer of lights for the auto industry, is seriously considering moving its operations to Mexico to escape Trump’s tariffs. Pat LeBlanc, the company’s CEO and a Republican who voted for Trump, said Trump’s tariffs will chop his 2019 profits in half, and LeBlanc feels betrayed by Trump! Cory Steeby, EBW’s president, said, “It totally incentivizes you to move out of the United States and build either in Canada or Mexico.”
At Bilco Products, a furniture manufacturing company also in Holland, MI, costs have increased 10% since the tariffs were put in place, but the company has not been able to pass those costs on to its customers.
All across the United States, such complaints are intensifying as the trade war disrupts factory operations that depend on imported parts.
Who’s solely responsible? One person: Trump.
Trump's Shortsighted, Backfiring Tariffs Only Hurt Americans
Tariffs: Taxes on Americans that are collected at the border.
The citizens of America are Trump’s collateral damage.
Trump has proven that he has no plan whatsoever. He shoots from the hip and ignores the advice of experts on both sides of the aisle. He makes decisions based on his abnormal, altered sense of reality and on his own ignorance of the facts. On 5/3/18, 1,100 economists have warned Trump that his recent trade tactics are repeating one of the biggest mistakes of the Great Depression. Included on the new letter are 14 Nobel laureates and economists from across the political spectrum, including former chairs of the Council of Economic Advisers under three presidents. The letter warns that tariffs raise prices on consumers, damage industries that rely on trade directly or indirectly, hurt the fortunes of American farmers, and lead to retaliatory measures from other countries. Very predictably, Trump’s policy decisions have already undermined the industries he has pledged to help.
On 4/5/18, Trump considered slapping $100 billion in additional tariffs on China. Beijing retaliated, slapping 25% tariffs on imports of U.S. soybeans, corn, airplanes and automobiles that total $50 billion worth of goods. Senators on both sides of the aisle are outspoken in their opposition to Trump’s actions. Republican Senator Ben Sasse (R-Neb.) said that Trump is “threatening to light American agriculture on fire.”
Trump’s tariffs weren’t exclusive to China. They include other ally countries as well, including Canada, our most important ally and defense partner. On 6/1/18, Canada announced that it would impose retaliatory tariffs on $12.8 billion worth of goods from the United States beginning July 1st. Prime Minister Justin Trudeau said the tariffs are designed to defend Canada’s interests and to send a message to the Trump administration, and would remain in effect until the United States removes the steel and aluminum restrictions. The states that will be hardest hit in the U.S. will be Ohio, Michigan, New York, Pennsylvania and Illinois.
Once again, Trump’s snap decision-making is only hurting American companies and American workers! Any and all gains we’ve seen in the stock market under this idiot have unnecessarily dissolved into thin air. Trump said the stock market might take a bit of a hit in the short term while also stating “We’ve already lost the trade war.” A bit of a hit? The DOW closed down another 459 points (1.9%) on the day of Trump’s announcement, while the S&P 500 index fell 2.2%, and the Nasdaq fell 2.7%; Tyson Foods slumped 6%, while Caterpillar fell 2.4%. On 4/6/18, the DOW fell an additional 572 points (2.34%), the S&P 500 index fell 2.19%, and the Nasdaq fell 2.28%. The very least the citizens of this country can expect is competence from their leaders. This, on the other hand, is what we get with an unchecked, incompetent idiot in charge.
Trump’s continuous pattern has been to outline a plan with scant concern and little to no preparation for its immediate impact or consequences, and to make changes on the fly with the same lack of planning. The results have consistently been to inflict painful and unexpected consequences on Americans’ lives.
The latest example of Trump’s tariffs hurting the citizens of America is the announcement by Harley-Davidson that it is moving some of its manufacturing out of the United States specifically because of the negative effects of the tariffs on its sales and profitability. After Harley-Davidson’s announcement, Trump had the nerve to negatively lash out at this iconic company, saying, “Don’t get cute with us.” This is not Harley-Davidson “waving the white flag,” as Trump contends, but rather another example of the negative effect of Trump’s inability to govern. Harley-Davidson has been successfully managing its business for 115 years.
Other companies reporting losses as a direct result of Trump’s tariffs:
- General Motors
- General Electric
- Fiat Chrysler
- Restoration Hardware
As of 6/29/18, Trump’s tariffs are already penalizing the American citizens who want to buy numerous products, including the following:
- Jack Daniels
- Peanut Butter
- Roasted coffee
- Toilet paper
- Strawberry jam
- Maple syrup
- Cucumbers and gherkins
- Hair lacquers
- Manicure and pedicure preparations
- Organic face washes
- Automatic dishwasher detergent
- Playing cards
- Ballpoint and felt tip pens
- Inflatable boats
- Cast iron grilles
- Sleeping bags
The one and only positive effect of Trump’s tariffs is that China, Europe, Canada and other nations have responded to Trump’s trade actions with retaliatory tariffs directed specifically at businesses in parts of the country that have hotly contested midterm election races. This will inevitably have the positive effect of causing voters to vote Democratic in the mid-term elections!
On 8/7/18, Element Electronics, a consumer electronics company in South Carolina, said it will be closing its plant in Winnsboro due to tariffs imposed by President Trump.
Tariffs are yet another way that incompetent Trump is supposedly working on behalf of American citizens: taxingus at the border!
Those who continue to support Trump are living proof that stupidity is not illegal in America!