Just ask former President Donald Trump, who had quite the schedule scheduled today with two major public events wrapping up at the White House. He will welcome the World Series-winning Los Angeles Dodgers, celebrating their recent victory, and Israeli Prime Minister Benjamin Netanyahu for crucial discussions on international issues.
In the midst of all this, Trump is taking a decidedly victory lap to tout his economic policies. He cites the dramatic drop in oil prices as his administration’s most important accomplishment. He blames the leaders of all the growing economic pains on the negligent decisions of past leaders who “let” this happen.
In a Truth Social post last week, Trump crowed that food prices are falling. Yet, he reminded everyone, in big green letters, he bravely proclaimed – NO INFLATION. He emphasized that the United States is now generating billions of dollars each week from tariffs imposed on countries he describes as “abusing” the U.S. economy. This statement sums up a defensively maligned and much scrutinized yet still gallantly defended tariff ride from Wilbur Ross.
In short, Trump’s immature and petulant rhetoric shows that he is well aware that his tariff policies are the main reason behind today’s market sell-off. He likens this painful decision to taking the bad tasting medicine needed for recovery. He argues that such things are necessary in order to make up for decades of economic disenfranchisement.
They’ve made enough, for decades, taking advantage of the Good OL’ USA! That’s for the birds,” he announced, punctuating his pivot away from post-Cold War Democratic orthodoxy on trade.
Even so, fears are increasing over the increasingly likely fallout from his tariff gambits. Today, independent economic analysts are predicting that Trump’s tariffs could lead to the loss of over 500,000 jobs by 2025. Companies will face increasing costs and shrinking margins as a consequence. It’s these policies that have added to the current turmoil in the stock market. In turn, worries are mounting about the long-term viability of their economic prosperity.
In adding China, Trump zeroed in on what would really be the “biggest abuser of them all.” He further disclosed that the country has just raised its tariffs by 34 percent. He claims this is a perfect example of the predatory trade practices that have led to the current economic environment.
As Trump navigates these complex economic issues during his public engagements, he remains resolute in promoting his agenda. The upcoming meetings with the Dodgers and Netanyahu will likely serve as platforms for him to further articulate his views on both domestic and international fronts.
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