Trump’s tariffs are part of his grand plan https://www.patternsofpower.org/regressive-trump-policies/ to shift the burden of tax away from himself and his rich friends by putting up prices for everybody else.
Reciprocal tariffs sound fair, https://www.reuters.com/world/us/trump-says-reciprocal-tariffs-coming-thursday-2025-02-13/, but other “barriers to the flow of U.S. products” are different: e.g. value-added tax in Europe isn’t anti-U.S.
Trump’s tariffs and his sudden policy changes are now having a visible cost – which might force further course corrections and/or a loss of political support https://www.cnn.com/2025/03/10/investing/us-stocks-drop-after-trump-says-he-wont-rule-out-a-recession/index.html
Donald Trump appears not to know the saying that when in a hole, stop digging.. www.reuters.com/markets/comm...
The OECD is an impartial commentator on the damage being inflicted by Donald Trump: www.cnn.com/2025/03/17/e...
Trump likes to ignore inconvenient data
The Spectator @thespectator1828.bsky.social
Having failed to bring down the price of eggs Trump tried to downplay it by re-posting a Truth Social article headed ‘Shut up about egg prices’ before returning to the subject in his recent speech to Congress. ✍️ Martin Vander Weyer
If more people understood this, Donald Trump would lose some support
Robert Reich @rbreich.bsky.social
Under the House GOP’s budget plan, the lowest-income taxpayers would see a LOSS of $1,125. The richest 0.1 percent of taxpayers, on the other hand, would see a more than $180,000 GAIN. This is trickle down economics on steroids.
Trump says that Venezuelan immigrants are “very violent”. Putting pressure on Venezuela's economy means that the US will see more asylum seekers: https://www.reuters.com/business/energy/trump-impose-25-tariff-countries-that-buy-oil-gas-venezuela-2025-03-24/
Trump tariffs will increase the price of cars for all Americans, and car workers in companies which export to Canada might lose their jobs: https://apnews.com/article/trump-tariffs-canada-autos-bed1bf9c1027e2fb3faa558b2f72c3a8
Canadian and US stocks decline as Trump continues to wreck their economies https://www.reuters.com/markets/tsx-futures-flat-investors-await-tariff-clarity-economic-data-2025-03-28/
Trump likes to grab the headlines – and his tariff announcement got everybody talking. Investors, seeking certainty, ran for cover https://apnews.com/article/stocks-markets-rates-tariffs-52dbb020a4c41122e31669c2da236d67. He will doubtless blame everybody else if America suffers from its effects.
So-called ‘reciprocal tariffs’ will wreck the economies of some of the poorest countries in the world. Trump calls it a ‘rip-off’ if there is a trade deficit: they export food to the US but can’t afford to buy American products https://bbc.com/news/articles/cqx4w1yj1vdo
Elon Musk’s ideas on free trade sound more orthodox than Trump’s. Is this an early sign of divisions within the US Administration? https://www.euronews.com/my-europe/2025/04/06/elon-musk-says-he-hopes-for-free-trade-zone-between-europe-and-the-us
Trump’s ultimatum to China is typical of his negotiating style https://bbc.com/news/articles/c8rgkkl7v8lo but President Xi is very unlikely to accept losing face – and probably sees the turmoil as an opportunity.
Trump's treatment of other countries is high-handedly trying to create negotiating leverage, but it causes resentment and China doesn't want to negotiate under duress https://news.sky.com/story/tariffs-latest-trumps-worldwide-tariffs-come-into-effect-with-china-facing-104-levy-13209921?postid=9412508#liveblog-body The resulting trade war might cause a global recession.
Pressure from Apple and others has resulted in yet another U-turn on tariffs, https://www.reuters.com/markets/us-excludes-smartphones-computers-reciprocal-tariffs-2025-04-12/ but is Trump becoming aware of consumer pain yet?
As the Fed represents impartial economic competence, Trump’s attack on its chair was sure to rattle the markets: https://www.reuters.com/markets/global-markets-wrapup-1-2025-04-21/ He needs to start taking advice from people who understand economics.
The IMF World Economic Outlook puts pressure on Trump, reporting that “Global growth is expected to decline and downside risks to intensify as major policy shifts unfold” with the US economy expected to be the hardest hit https://www.imf.org/en/Publications/WEO/Issues/2025/04/22/world-economic-outlook-april-2025
Trump's changes in policy are coming faster than ever. In the last week he has attacked Jerome Powell and then drawn back, criticised Putin, softened towards Zelenskyy, and announced a softening of his approach to China https://www.cnn.com/2025/04/26/business/everything-you-missed-in-the-economy-this-week
Trump’s attempt to blame Biden for the US economy slow-down is a sign of desperation. He’s proud of how much he’s done in his first 100 days yet he can’t take responsibility for the consequences https://www.reuters.com/business/stockpiling-ahead-tariffs-likely-hurt-us-economy-first-quarter-2025-04-30/
There have been comments on Trump's change in tone about the economy: https://www.washingtonpost.com/politics/2025/05/06/trump-austerity-tariffs-dolls-pencils/. It is a politically risky time for him as his supporters start to realise the disadvantages of his policies.
Trump can’t hide the impact of tariffs by shouting. Everyone knew that prices would have to rise if tariffs were imposed. It is plainly unrealistic to expect retailers and other businesses to absorb the extra costs. https://apnews.com/article/trump-tariffs-walmart-inflation-import-taxes-e2012e0d9e242b0be0b9474aa58d41fd
Trump's delay of his 50% tariff on European goods let the stock market recover briefly, but for how long? Abrupt policy reversals have become a familiar pattern of behaviour – harming the global economy without gaining anything https://www.reuters.com/business/trump-extends-deadline-reach-eu-trade-deal-until-july-9-2025-05-25/
Trump’s ‘reciprocal tariffs’ were briefly set aside by a court before an appeal temporarily reinstated them. The rest of the world waits, and trade negotiations are at a standstill, while this farce plays out https://www.reuters.com/business/us-ruling-that-trump-tariffs-are-unlawful-stirs-relief-uncertainty-2025-05-29/
Tariff income might replace the deficit caused by tax cuts in Trump's ‘big beautiful bill’ – but will most Americans lose out, with higher cost of living and reduced access to Medicaid? https://www.axios.com/2025/06/04/trump-tariffs-taxes-budget-cbo
Trump has climbed down from his previous deadline of July 9th for settling trade agreements. This has created confusion in the markets, and the new date of 1st August may not be credible https://www.reuters.com/world/asia-pacific/trumps-tariff-deadline-delay-brings-hope-confusion-trade-partners-businesses-2025-07-08/
The 50% tariff on Brazil will be dropped if charges against Bolsonaro are dropped. Steve Bannon was asked if that is extortion. “It’s MAGA, baby,” he replied. “It’s a brave new world.” https://www.nytimes.com/2025/07/11/world/americas/brazil-trump-tariffs.html
Trump and Bessent are very pleased with the June tariff receipts, but it is much too early to claim that there is no resulting inflation – as that will take time to work through https://www.reuters.com/business/trumps-tariff-collections-expected-grow-june-us-budget-data-2025-07-11/
Trump is under pressure from political and economic realities. Tariff-fuelled inflation is unpopular with voters and the Fed cannot lower interest rates as Trump wants. Financial markets will react if inflation continues https://www.reuters.com/world/us/feds-inflation-fears-may-start-be-realized-with-june-cpi-data-2025-07-15/
Japan’s deal is better than the earlier threat but is still painful. And it has not imposed any retaliatory tariffs on America, so Trump appears to have won – but the value of the dollar is sliding and inflation looms https://www.bbc.com/news/articles/c93k0wzyw0ko
France rightly condemns the EU trade deal with the US as ‘submission’.
It is.
It may not even bring stability, as Trump is perfectly capable of changing his mind if the results are not what he wanted https://www.reuters.com/business/autos-transportation/angry-france-slams-us-trade-pact-submission-eu-peers-breathe-sigh-relief-2025-07-28/
The EPA’s attempt to cut regulations on greenhouse gas emissions doesn’t only harm the planet. It will put America behind in the global competition to exploit new technologies (whilst briefly protecting legacy jobs) https://www.axios.com/2025/07/29/epa-cancel-climate-regulations-trump
Trump doesn’t like to see the weak jobs data resulting from his economic interventions, so he is ‘shooting the messenger’. And financial markets are disappointed with his continuation of those policies https://www.bbc.com/news/articles/cvg3xrrzdr0o
Most countries did not reach a trade deal before Trump's 90 day deadline expired, so higher tariffs come into effect. The impact on consumer prices will not be immediate but will be significant – hurting the poor more than the rich https://www.bbc.com/news/articles/cx23jmvn5yzo
As widely predicted, tariff-related inflation has become visible in the US economy. Trump tried to discredit the Bureau of Labour Statistics when it reported a jobs slowdown recently, so he might try that trick again https://www.axios.com/2025/08/14/ppi-inflation-july