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Items tagged with: economy
'Nowhere's safe': How an #island of #penguins ended up on #Trump #tariff list
source: bbc.co.uk/news/articles/cly8xl…
Two tiny, remote #Antarctic outposts populated by penguins and #seals are among the obscure places targeted by the Trump #administration's new tariffs.
The penguins are understandably pissed off.
It's hard to say who is the craziest head of state with all the crazy politicians in the world.
#usa #fail #problem #economy #penguin #seal #intelligence #future #democracy #politics #trade #world #globalization
Trump tariffs: How island of penguins and seals ended up on list
The remote Heard and McDonald Islands haven't been visited by humans in almost a decade.Ottilie Mitchell and Tiffanie Turnbull (BBC News)
#MAGA - Trump hits golf course as stock market plummets for second straight day over tariffs
> Two days after sending the #economy reeling by announcing widespread #tariffs, President #DonaldTrump insisted his trade policies will never change as he remained ensconced in a bubble of wealth and power in #Florida.
> He woke up on Friday morning at Mar-a-Lago [..] and headed to his nearby golf course [..] writing on social media that “THIS IS A GREAT TIME TO GET RICH.” apnews.com/article/donald-trum…
Trump hits golf course as stock market plummets for second straight day over tariffs
President Donald Trump says his trade policies will never change despite sending the global economy into a tailspin by announcing tariffs on foreign imports. He's spending the weekend at his private clubs in Florida.Fatima Hussein (AP News)
#Newsom asks world leaders to exempt #California exports from retaliatory tariffs
source: foxnews.com/politics/scoop-new…
#USA #export #trade #economy #politics #trump #news
SCOOP: Newsom asks world leaders to exempt California exports from retaliatory tariffs
California Gov. Gavin Newsom announced plans Friday to counter President Donald Trump's tariff hikes, asking countries to exempt California exports from retaliatory taxes.Jamie Joseph (Fox News)
#FederalReserve Chair #JeromePowell is speaking
Says #Trump #tariffs were far higher than expected & that larger than expected tariffs mean higher #inflation, slower growth.
"We face a highly uncertain outlook with elevated risks of both higher #unemployment & higher inflation," undermining both of the #Fed's mandates of 2% inflation & maximum employment, Powell said in prepared remarks for a business journalists' conference.
"The Chinese Ministry of Finance, calling @POTUS new tariffs on Chinese imports a 'typical act of unilateral bullying,' responds overnight with a 34% tariff on all goods imported from America. And so the President's trade war escalates."
~ Garrett Haake quoted by Greg Dworkin
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/18
dailykos.com/stories/2025/4/4/…
Abbreviated Pundit Roundup: Trump deliberately tanks the economy as Republicans sit back, do nothing
The Economist: President Trump’s mindless tariffs will cause economic havoc But the rest of the world can limit the damage I F YOU � failed � to spot America being “looted, pillaged, raped ...Daily Kos
"The US dollar experienced its largest single-day decline on record, dropping by 2.1% against major currencies."
~ CNBC
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/17
cnbctv18.com/world/us-markets-…
US Stock Market Highlights: Dow slides 1,600 points, S&P 500, Nasdaq post biggest single-day losses since 2020
US Stock Market Highlights: The Dow Jones lost 1,679 points (-3.98%) to close at 40,545.93, while the Nasdaq tumbled 5.97% to 16,550.61. Over 400 S&P 500 stocks ended in the red, pushing the index 12% below its February peak.Ajay Vaishnav (CNBCTV18)
"Experts said Trump’s sweeping border taxes of between 10% and 50% on the US’s traditional allies and enemies alike had dramatically added to the risk of a steep global downturn and a recession in the world’s biggest economy."
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/16
"As world leaders reacted to the US president’s 'liberation day' tariff policies demolishing the international trading order, about $2.5tn (£1.9tn) was wiped off Wall Street and share prices in other financial centres across the globe."
~ Richard Partington
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/15
theguardian.com/business/2025/…
Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall Street
Economists say levies of between 10% and 50% have dramatically added to the risk of a worldwide downturnRichard Partington (The Guardian)
"The pure insanity of Trump’s tariffs is best (ahem) personified by his inclusion of Heard and McDonald Islands, which are inhabited largely by penguins."
~ Marcy Wheeler
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #destruction
/14
emptywheel.net/2025/04/04/maga…
MAGAts Confess They Cannot Compete with Penguins on a Level Playing Glacier - emptywheel
When MAGAts applaud Trump's tariffs they are confessing that they think they need help to be able to compete with a colony of penguins.emptywheel
"Business still hasn’t grasped how bad things are. For while tariffs are dominating the news right now, they’re part of a broader pattern of malignant stupidity. It may take a while before we see the effects of DOGE’s destruction of the government’s administrative capacity, or RFK Jr.’s destruction of health policy, but we will see those effects eventually."
~ Paul Krugman
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #stupidity #incompetence
/13
paulkrugman.substack.com/p/how…
How a Con Man President Is Destroying Confidence
Chaos and incompetence are bad. Who knew?Paul Krugman
“The vast majority of us will be worse off. It’s not that complicated: Tariffs are a tax. Some of that tax will be eaten by the foreign producer… some of it will be eaten by the importer. But a big chunk of it will be paid by American consumers.”
~ James Surowiecki
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #jobs
/12
zeteo.com/p/people-will-become…
‘People Will Become Destitute’: Trump’s Tariffs Are Already Backfiring
Francesca and Wajahat react to Trump’s “Liberation Day” tariffs backfiring. Plus, finance journalist James Surowiecki breaks down how the tariffs will ultimately take a toll on everyday Americans.Team Zeteo (Zeteo)
"The economist puts the odds of a recession this year now at 60%, up from 40% before the tariff rollout. Even if the global economy does avoid a recession, the U.S. may not be as lucky, Kasman said."
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #jobs
/11
"The tariffs announced this week by President Donald Trump have significantly increased the chances of a U.S. and global economic downturn, according to JPMorgan. “These policies, if sustained, would likely push the US and possibly global economy into recession this year,” wrote head of global economic research Bruce Kasman in a note late Thursday."
~ Jesse Pound
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #jobs
/10
cnbc.com/2025/04/04/jpmorgan-r…
JPMorgan raises recession odds for this year to 60%
Tariffs from the Trump administration make a global recession more likely than not, according to JPMorgan.Jesse Pound (CNBC)
"According to a report from recruiting firm Challenger, Gray & Christmas released on Thursday, 275,240 people lost their jobs last month. That is a fuckton of people. In fact, it is the third highest number of jobs lost in a single month since they first started tracking job cuts in 1989, the other two being the first two months of the COVID pandemic.
~ Robyn Pennacchia
#Trump #tariffs #StockMarket #economy #recession #inflation #stupidity #incompetence #jobs
/9
Andy Kaczynski, quoted by Bulwark, reminds us of a "top banker" quoted by media after Trump's election, who said he felt "liberated" because he could now say the words "pu—y" and "ret-rd" with fear of being "cancelled." Kaczynski wonders if Financial Times can check in on that banker about how "liberated" he's feeling right now.
#Trump #tariffs #StockMarket #economy #crash #SmootHawley #recession #inflation #stupidity #incompetence #destruction
/8
Andrew Egger looks at how FOX News chose to handle Trump's "Liberation Day" as the market crashed: FOX opened the day digitally jubilant with an announcement that Trump has revived "the American dream."
But as the markets cratered, FOX began slowly burying all ledes with that news and fell silent about our "liberation" and how we've living "the American dream."
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #stupidity #incompetence #Fox
/7
thebulwark.com/p/lamps-going-o…
The Lamps Are Going Out Around Us
We may want to believe that this is a glitch or a temporary fall. But we must be open to the likelihood that this is the end of the American-led world order.William Kristol (The Bulwark)
"Callers to my radio show—as well as when I posed this question [of why Trump is crashing the economy] online—overwhelmingly responded that Trump is doing this because he is a 'Russian asset.' His goal is to 'Make Russia Great Again' at the expense of the United States."
#Trump #tariffs #StockMarket #economy #crash #SmootHawley #recession #inflation #stupidity #incompetence #destruction #Putin #PutinsPoodle
/6
"CNBC’s Jim Cramer warned two weeks ago that Donald Trump was 'manufacturing' a recession with his potential massive tariffs. As Cramer correctly explained, history books tell us that the massive tariffs imposed in 1930 known as 'Smoot Hawley' by GOP President Herbert Hoover 'was a direct cause of the of the Depression.'”
~ Dean Obeidallah
#Trump #tariffs #StockMarket #economy #crash #SmootHawley #recession #inflation #stupidity #incompetence #destruction
/5
And what did Trump do yesterday as the market crashed? Stelter quotes Jeff Zeleny on CNN: Trump did not "fly to a factory"; "he did not use the presidential bully pulpit to sort of sell this tariff plan." Instead, he flew to Florida for a LIV Golf event.
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #MobBoss #stupidity #incompetence #destruction
/4
Brian Stelter points to an AP article in March drawing attention to these words of Trump last August:
"If Harris wins this election, the result will be a Kamala economic crash, a 1929-style depression. 1929. When I win the election, we will immediately begin a brand new Trump economic boom."
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #MobBoss #stupidity #incompetence #destruction
/3
"Donald Trump’s decision on April 2 2025 to enact sweeping 'reciprocal' tariffs on US trade partners will go down as one of the greatest acts of self-harm in American economic history. They will wreak untold damage on households, businesses and financial markets across the world, upending a global economic order that America benefited from and helped to create."
~ Financial Times
#Trump #tariffs #StockMarket #economy #crash #stupidity #incompetence #destruction
/2
ft.com/content/21454c08-8e1c-4…
America’s astonishing act of self-harm
Trump’s tariffs will upend the global economic order and tarnish US prosperityThe editorial board (Financial Times)
CNN's graphic depiction as of 9:05 A.M. EST of what's happening to the stock market after the man running the show crashed it, with his party cheering the crash on and 77 million Americans voting to accomplish this.
#Trump #tariffs #StockMarket #economy #crash #recession #inflation #MobBoss #stupidity #incompetence #destruction
/1
cnn.com/markets/fear-and-greed
Hey all of you Trump voters…
Are you better off now than you were before he took office?…..about 71 days ago?
Wondering if maybe you made a mistake?
Thinking to yourselves….if only there could have been some “clues” that this guy might not have been the best for our country?
#uspolitics #USA #uspol #trump #trumptariffs #WorldEconomy #economy #republican #republicans #Worldnews #world #worldrelations #regrets
Whirlpool Corp. announces Iowa's largest layoff of 2025 in Amana manufacturing facility
#politics #economy
desmoinesregister.com/story/mo…
Whirlpool Corp. announces Iowa's largest layoff of 2025 in Amana manufacturing facility
A statement from Whirlpool said the layoffs are the result of reduced consumer demand for products made in Amana, primarily refrigeration units., The Des Moines Register (The Des Moines Register)
U.S. #stocks tumble on global #TradeWar fears over new #tariffs
#Trump's sweeping tariff announcement Wednesday triggered a sharp drop in U.S. stock markets, a flashing-red warning sign of the economic fallout that's expected to result from the widening trade war.
The Dow Jones Industrial Average tumbled over 1,200 points, or 2.9%, Thursday within minutes of the opening bell. The broader S&P 500 index sank 3.4%.
#economy #recession #trumpcession
npr.org/2025/04/03/nx-s1-53505…
Since it will be more costly to export to the US, could all other countries agree to lower the tariffs they might already have between each other? Can that compensate for the US loss?
#Economy #UsPol
Disgusting: The majority of the nations listed for “reciprocal” #tariffs on the 8-pg document distributed to reporters by the #Trump admin are #poor, #developing economies. They include some of the world’s poorest nations -- #SouthSudan, #Burundi & the #CentralAfricanRepublic -- as well as countries in the throes of #war, notably #Sudan.
#RevengePolitics #racism #xenophobia #aporophobia #WhiteChristianNationalism #economy #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
The White House clarified that yes, as I posted earlier in this 🧵, the tariff numbers in the charts #Trump held up include BOTH reciprocal levies & the 10% baseline. So #Europe will face a 10% reciprocal tariff + a 10% baseline. #China will face a 24% reciprocal tariff, + the 10% baseline. Etc.
#RevengePolitics #economy #tariffs #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
#Trump says he will charge the #UK a 10% #tariff. Remarkable, since the US runs a #trade surplus w/Britain, it’s a close ally & the country has been trying to negotiate a trade deal w/Trump.
Trump says he will also establish a “universal baseline tariff” of 10% that will apply to ALL COUNTRIES, in ADDITION to the numbers he’s already announced. That means a country like China will face a 44% tariff on top of the 20% already imposed.
#RevengePolitics #economy #inflation #recession #geopolitics
That is also on top of #Trump’s other #tariffs that China will also face, including 25% tariffs on autos & 25% tariffs on metals.
Trump says to foreign countries, “If you want your tariff rate to be zero, then you build your product right here in America.”
#RevengePolitics #economy #tariffs #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
#Trump claims that experts have been wrong about #NAFTA, #China & his first-term #tariffs & that they will be wrong again about his current trade actions. 🙄
Futures on the S&P 500, which allow investors to trade when exchanges are not officially open, began to tumble after Trump started outlining the tariff rates. The index had ended the day higher, but futures are now down more than 1%.
#RevengePolitics #economy #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
#Trump touts manufacturing jobs that have been created since his 2nd term began as well as the fact that some consumer prices have eased. The issue is that neither of those very modest trends are likely to continue w/these #tariffs, economists say. A new report released this week showed that manufacturing activity contracted in March & businesses in that sector are now expecting much slower growth & higher prices.
#economy #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
#Trump said #grocery & other #prices are starting to come down, & that his policies are bringing down #inflation. In fact, inflation has picked up in the first weeks of his term, & economists almost universally expect #tariffs to further drive up prices.
#FactCheck #TrumpLies #RevengePolitics #economy #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
“There’s a reason this came at 4 PM ET, with #markets closed,” said Jorn Fleck, senior director with the Europe Center at the Atlantic Council.
He said the #tariff on the #EU, his area of expertise, is a “very high number” that will be painful for #consumers & #businesses on both sides of the Atlantic.
#RevengePolitics #economy #tariffs #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
People had been expecting #Trump to announce high #tariffs, but these numbers are stunning. In addition to a 10% tariff on ALL COUNTRIES, dozens of other countries face extra tariffs between 10 & 50%. That will force some manufacturing back into the US, but will also definitely raise costs for American #consumers & #manufacturers & incite #TradeWars on many fronts.
#FactCheck #TrumpLies #RevengePolitics #economy #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
Many of these tariff rates seem much higher than some economists & policymakers had been expecting.
#Trump says the US will calculate a tariff rate for other countries based on #tariffs & “other forms of cheating” — whatever that means.
He says #China will face a 34% tariff, while the #EU will be 20%. #Japan will be 24% & #India 26%.
#RevengePolitics #economy #tariffs #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
#Trump calling the #trade deficit a “national emergency” that threatens US #security, lays out his *legal* argument for his actions.
“They rip us off,”Trump says of the #EU, announcing a 20% #tariff on the 27-nation bloc.
Trump holds a chart showing reciprocal tariff rates for US trading partners & says he will charge half of that much? There is no explanation for the calculations that he is using to justify the #tariffs. Likely because they’re arbitrary revenge tactics.
#Trump again criticizes the creation of the #IncomeTax in the US in 1913, arguing that it’s a mystery why the nation ever instituted one. American policymakers embraced the income tax for 2 reasons: to collect more taxes from the #rich & to pay for a growing federal govt.
Conversly, #tariffs disproportionately burden #LowIncome Americans, who spend more of their earnings on goods that tariffs make more expensive.
#economy #inflation #recession #TrumpTariffs #Trumpcession #geopolitics #USpol
