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.
@ToucanTalking@BillAckman@realDonaldTrump Not so sure about that when our president acts on advice from people like Laura Loomer on topics like national security. Loyalty appears to "Trump" logic, competency, wisdom and truth everytime.
Sharing @Lenovo's global response to coronavirus as we continue to support customers, employees and the communities where we work around the world.
https://t.co/AZ9ahLH4En
Wind turbine manufacturer @Vestas uses real-time data to do business better. Since 1991, they’ve gathered data from thousands of their machines. And since 2017, our high-performance computers have mined that data for actionable insights. https://t.co/ahXzc9sjuw
Looks like @Intel's got a Cascade Lake refresh, and we’re ready with hardware that takes advantage of additional cores, higher clock frequencies and bigger caching. #DataCenter#Tech#Intel#CascadeLake. CC: @IntelBusiness. https://t.co/xC0GqLblMo
Data is people. And people.. are data. Soon, every person on Earth will generate 1.7 megabytes of data per day. That’s a lot of data! How will you be bringing it to life for your business? #WeCanHelp#AndYesThatWasASoylentGreenReference#BigData#Tech#AI https://t.co/2yaesH7TmO
This year, there will be more bytes of data than there are stars in the observable universe (40x, to be exact). That’s… a lot of data. How will you be bringing it to life for your business? #WeCanHelp https://t.co/dwEOFxKSLg
Life in the fast lane doesn’t need to make you lose your mind: especially when you’re backed by real-time data intelligence, AI and supercomputing. Learn more about how @DucatiMotor partners with Lenovo to meet their need for speed. https://t.co/of11n9KjqI.
The weather is notoriously fickle to predict. Luckily, supercomputers can help make the unknown a bit more knowable. Learn what’s coming, faster: https://t.co/bPGY0InYbO