Donald Trump free the Americans from their savings for retirement with tariff prawns
INo special the he tried to interpret the richest country in the world as a victim of the global system of trade He created, Donald Trump proclaimed “liberation day” on Wednesday while announced the large rates on all imports in the United States.
Precisely who was saved and from what was not clear. If the initial market reaction is something to do, many Americans May soon be freed from their savings for retirement.
“For decades, our country has been plundered, sacked, raped and sacked by the nations near and far, both a friend and enemy,” said Trump, comparing the American commercial deficit to the dismissal of the Baghdad Mongols.
The long -awaited announcement, invoiced as one day to “make America Wealthy Again”, was the culmination of a cat game and a month’s mouse that the president had played with the global economy.
Economists have called it a bet that could increase prices, cause working cuts and start a global commercial war. Trump insisted in his speech that “jobs and factories will return to our country”.
“It is our declaration of economic independence,” Trump said to the event, promising a “golden age” for the United States.
In a surreal scene, the president has assumed a role similar to a game conductor while he was set of a gigantic cardboard card that detailed the rates that would be imposed on each country, adding comments for each while going down to the list.
“You know, think about European UnionVery friendly, they tear us up. It is so sad to see. It’s so pathetic, “he said when he announced 20 % rates on all imports from the block.
“Vietnam. Great negotiators, fantastic people. They like them.
“Japan, very, very hard, fantastic people,” he continued. “And again, do not blame people for doing it. I think they are very intelligent. Loorly the people who have sitted in that oval office, right there, just behind the resolute desk, any desk have chosen.”
Trump occasionally went out of the topic to talk about Ukraine or Houthi in Yemen.
“They like to shoot the ships down and get out of the water, sinking the ships. They get a kick, but they are not getting such football now,” said the group supported by Iran, that the United States are currently bombing, before quickly passing to companies to list here that they had announced further investments here.
A president’s words are said to move the markets; It is likely that the White House has moved the event after closing.
However, after-hour trading has given a mention of what could happen on Thursday morning. The Futures Dow collapsed by 256 points, or 0.61 percent. S & P 500 Futures have slipped 1.69 percent. Futures related to Nasdaq 100 decreased by 2.54 percent.
Trump’s decision to impose a wave of rates on dozen countries maintains a promise of his campaign, while they break another.
The President’s tone is that the Americans will be “freed” by an economic system that has retained and destroyed the American manufacturing base once. By imposing rates on imports, Trump believes he can make foreign countries pay a “tax”, which will generate or persuaded companies to build more factories and produced in the United States
But most economists argue that the cost of rates will be transmitted to the consumer. This means higher prices on cars, houses, electric goods and everything else, at a time when many are already fighting to make ends meet. In the long term, it means less growth and more inequality.
Also the conductors of the favorite show of Trump, Fox and friendsThey were skeptics while previewing his great announcement.
“Keep in mind that this is a gigantic experiment that we have never seen before. On paper, it’s nice for the president … but keep in mind that people have to come here and build factories and there are years. And there is a lot of uncertainty,” said Steve Doocy.
In other words, it is a bet on the economic future of the United States by a man who once failed a casino.
The rates were a part of the Trump campaign, but the political one was very obscured by its promises to lower the prices on everyday assets for Americans, less inflation and “make America again accessible”.
Those promises were abandoned in favor of a tariff adventure similar to Don Quixote who beat the records even before being implemented, all in the wrong direction. The index of global economic uncertainty and trade in the United States deficit Both reached the maximum records in the weeks and months before the announcement.
The S&P 500 has just recorded its worst month since 2022, losing 5.8 percent in March. The Nasdaq index focused on technology closed the month down 8.2 percent. This represents a significant drop in the value of pension funds and savings for many Americans.
Trump rejected doubts about his policy by economists and even members of his own party. His administration has promoted rates with an enthusiasm that would have blitled northern official officials.
“This is an exciting day, the day of liberation. This is the greatest salvation, not only for small businesses, but for America,” Kelly Loeffler, head of the Small Business Administration, told Fox News.
“The message is that rates are tax cuts, rates are jobs, rates are national security”, Peter NavarroTrump’s senior consultant on trade and production said Fox News Sunday. “The rates are fantastic for America. They will make America great again.”
Even with that enthusiastic cheerleader, the American audience remains deeply skeptical about rates.
About 53 % of voters in a Fox News survey I think they probably cause more damage to the economy of the United States than well, while 28 % think they help.
If the Americans are freed from these rates, it is against their will. And freeing someone against their will is just a kidnapping.
