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#economy

967 posts438 participants125 posts today
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#ChuckSchumer added: “We know that Donald #Trump doesn't think things through. We know that whatever hits him for the moment he does. But on something so vital like the whole #economy of America, the amount of #money people have in their pockets, in their livelihoods, on something as vital as this - yes, it leaves you agape at what he is doing & how much damage he is causing. And how little he cares. He thinks it’s a game.”

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#Senate #Democrats just held a press conference on #Trump's #tariff announcement & his admin's policy.

Sen Kirsten Gillibrand said: “Because of this #chaos, this #incompetence & this carelessness, he has wiped out trillions of dollars from the #US #economy.”

Standing alongside her, Senate Minority Leader #ChuckSchumer said: “You can't undo the damage. The #TrumpSlump is upon us now, & whatever he will try to do in the future does not undo the damage.”

Replied in thread
@lain is this a suggestive pickup line, a request for investment advice wrt. Canadian or US National Park lumber, or a thought that you had while reading Pentti Linkola's "Can Live Prevail?" during his griping about the corruption in the Finnish limber industry?

Is Trump’s economic strategy failing Americans? Recent analysis critiques his response to the deepening economic crisis, highlighting the significant loss of life savings and retirement funds for many. As the U.S. teeters on recession, Trump's **90-day tariff pause** is seen as a humiliation rather than a solution. The author's insights suggest serious damage to American confidence, despite optimistic media narratives. For more, read the full article here: crooksandliars.com/2025/04/tru #Trump #Economy #Tariffs #Recession #USPolitics

Crooks and Liars · Trump Caves On Tariffs - For NowBy John Amato
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Friedrich #Merz, #Germany's likely next chancellor, said #Trump's *pause* of %tariffs for 90 days was evidence of a united European approach to trade having a positive effect, & called for tariff-free #US#EU trade.

"Europeans are determined to defend ourselves & this example shows that unity helps most of all," he told TV show RTL Direkt in an interview following his conservative bloc's sealing of a coalition deal w/the Social Democrats.

(WASHINGTON) — Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%. It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and …#Economy #DonaldTrump #wire
Stocks Surge After Trump Pauses Some Tariffs, Raises Taxes on Chinese Imports
Time · Stocks Surge After Trump Pauses Some Tariffs, Raises Taxes on Chinese ImportsBy Josh Beck / AP

He has paused the tariffs for 90 days, which is silly and destructive in its own right, and the rest of the world, which is run by adults, will continue to figure out how to shut out the US.

Teaching the world in 90 day increments to cut off the US is weird…

…and also, at least one crime.

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Inexplicably, #Trump seems to have added another 10% tariff to #Canada & #Mexico. Asked earlier if the 10% tariff extends to those countries, Scott Bessent, the treasury secretary, said that it did. And a White House official clarified that that is the case. Previously Canada & Mexico had been exempted from this round of “reciprocal” #tariffs, though they still face a 25% tariff on many of their goods that the president imposed last month.

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It wasn’t clear from #Trump’s post if countries would be facing a 10% tariff or a 20% tariff. Trump said he would impose “a substantially lowered reciprocal tariff” of 10% during the 90 days. But he didn’t say if that would be in addition to a 10% “universal” #tariff that the #UnitedStates imposed globally on Sa.

Karoline Leavitt, the WH propagandist, just told reporters that the tariff level would be brought down to a universal 10% — so that will still be in effect.