Talking Heads: Girling Up Over Trump's Tariff Spat - World's Worried about the 104%
- Authors: Mirjam Bittner, Frank Donovitz, Phil Goebel, Thomas Krause, Yannik Schuller, Lennard Worobic, and Rune Weichert
- Published: 1 Min Ago
- U.S. Customs Implement Additional Tariffs - Chinatariffs escalate to 104%
Y'all thought business tycoons'd be Trump's ride-or-die, right? But his global trade war left some of 'em feelin' betrayed. Even Elon Musk, Trump's tech billionaire pal, is distant now.
His recent jab at skeptics, callin' 'em "Panicans," ain't helpin' either. He claimed them as "weak, dumb people" lackin' faith in his econ policy, preachin' on Truth Social like a revivalist. But as stock market chaos rolls on and Trump's second wave of tariffs loom, his supporters are dwindlin'.
Trump's Tariffs Pet Peeves
Y'all remember the "Panicans"? Well, Trump picked on 'em, callin' 'em "chicken," last week—German for "softies." But as market mayhem and panic continue, the bandwagon of critics gets bigger.
- Stock Market Rollercoaster
- DAX Dive
- Bitcoin Blues
- Trump Double Whammy
Stick It to 'Em: Trump's Tariffs Explained
Trump declared a national emergency back in April, accusing other nations of exploitative trade practices. He's pullin' out the big guns under IEEPA, implementin' 10% and higher tariffs, startin' April 2025. Countries with significant trade deficits against the US will get extra, big tariffs from April 9, 2025.
Market Meltdown & Bitcoin Bust
These new tariffs might send the global market up a tree as they disrupt global trade and boost costs. As for Bitcoin, it's not a direct target, but economic uncertainty could make investors wanna hightail it outta there.
The Global Slump: An Economic Nightmare
While specific impacts haven't been mentioned, economists like those at Yale's Budget Lab reckon the average effective U.S. tariff rate will skyrocket to 22.5%—the highest since 1909. The short-term price level uptick could cost each household around $3,800, while the U.S.'s real GDP growth is expected to plummet by 0.9 percentage points. Not good, huh?
Critics' Cries: Global Trade Backlash
Yale's Budget Lab gang warns about international retaliation to Trump's tariffs, but it's uncertain how that'll play out. More drama over the DAX, Europe's economic pulse, might be on the horizon if trade with the US takes a hit.
Stay tuned for more on this (not so) fantastic voyage!
- I'm not going to be a big fan of this tariff spat, given the turbulence it's causing in the stock market and the potential for increased tariffs on key trading partners.
- It's stupid to think that tariffs will not have a significant impact on the global economy, especially when you consider the potential for retaliation from trading partners.
- Tariffs, especially those proposed by Trump, have led to bittner (bitterness) among business leaders and economists who see the potential for an economic nightmare in the form of increased costs, market chaos, and reduced GDP growth.
