It has been 2 months since the initial 10% tariff on China was announced.
It has been 1 month since the 25% tariff on Mexico and Canada was announced.
Three of our largest trading partners with tariffs of 20% or higher.
Guess what happened to inflation?
It has fallen since the tariffs were announced.
Just another reminder that tariffs are deflationary, not inflationary.
(1/4) The ongoing market response to last week’s US tariff announcement was both predictable and preventable. Even if you agree with the premise of these tariffs, every reasonable effort should be made to give US companies sufficient time to adapt.
Market prediction for the #SP500 - Countries will start dropping tariffs on the US, @realDonaldTrump will lift the tariffs one by one, sparking increased job growth/wage growth and a spike in the #StockMarket to new highs.
The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But, business is a confidence game and confidence depends on trust.
President @realDonaldTrump has elevated the tariff issue to the most important geopolitical issue in the world, and he has gotten everyone’s attention. So far, so good.
And yes, other nations have taken advantage of the U.S. by protecting their home industries at the expense of millions of our jobs and economic growth in our country.
But, by placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital.
The president has an opportunity to call a 90-day time out, negotiate and resolve unfair asymmetric tariff deals, and induce trillions of dollars of new investment in our country.
If, on the other hand, on April 9th we launch economic nuclear war on every country in the world, business investment will grind to a halt, consumers will close their wallets and pocket books, and we will severely damage our reputation with the rest of the world that will take years and potentially decades to rehabilitate.
What CEO and what board of directors will be comfortable making large,
long-term, economic commitments in our country in the middle of an economic nuclear war?
I don’t know of one who will do so.
When markets crash, new investment stops, consumers stop spending money, and businesses have no choice but to curtail investment and fire workers.
And it is not just the big companies that will suffer. Small and medium size businesses and entrepreneurs will experience much greater pain. Almost no business can pass through an overnight massive increase in costs to their customers. And that’s true even if they have no debt, and, unfortunately, there is a massive amount of leverage in the system.
Business is a confidence game. The president is losing the confidence of business leaders around the globe. The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for.
The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system.
Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down.
May cooler heads prevail.
We said in Dec 2020 that we were on the right side of the law, and will be on the right side of history. Thankful to everyone who helped us get to today’s decision – one that is for all crypto innovation in the US. More to come.
Thanks for making me pay an extra $500 to fly on a flight that I already booked because you can't find the reservation number on your system. Idiots @KLM_US @KLM#klm#trash
I said it on day 1, we will aggressively fight to get clear rules for the entire industry in the U.S.
Congrats to all of Team Ripple for getting us to this point. Ripple stood strong and withstood the SEC’s onslaught. I look forward to being on the right side of justice.
At least 19 people confirmed dead after Tanzanian passenger plane crashes into Lake Victoria, with others rescued from the wreckage https://t.co/FyKuMFsbEB
#XRPCommunity#SECGov v. #Ripple#XRP 1/2 The parties have filed a request that any motions by third-parties to seal portions of the parties’ summary judgment filings be filed subject to the Court’s September 12, 2022 order.
@USEmbassyPrague hey guys, I'm stuck at the airport (PRG) after being denied my flight to ATL this morning. Is there any way I can expedite the NIE request? I've stayed in the US for nearly 2 years now and desperately need to get home..