Blue Press Journal

Tag: tariffs

  • Americans Lose 20% of their Wealth Under Trump

    The U.S. dollar has taken a nosedive against the euro in recent weeks, thanks to President Trump’s aggressive tariff policies. This means that Americans have seen their wealth decrease by a staggering 20 percent in just one month under Trump’s iron-fisted rule. The currency’s decline, coupled with the president’s relentless attacks on Federal Reserve Chair Jerome Powell, has put the nation’s reputation at risk.

    Trump’s latest tariff measures are a lose-lose situation for everyone involved, pushing them to the brink of financial ruin. His decision to slap a 10 percent tax on all foreign imports and impose even higher taxes on certain countries has alienated both allies and enemies. Despite a temporary reprieve for some retaliatory tariffs, the U.S. is at risk of losing valuable partnerships, especially with Canada and Mexico facing a hefty 25 percent tariff.

    The spike in steel and aluminum prices is sending shockwaves through American industries, from automakers to construction companies to beverage manufacturers. Trump’s misguided belief that foreign companies will flock to the U.S. to build new factories is nothing but a pipe dream. In reality, the policy chaos he has created is undermining the very goals he claims to be pursuing.

    With the economy teetering on the edge of a recession, it’s clear that a change in course is desperately needed. If President Trump continues down this destructive path, the nation will face dire consequences in the months to come.

  • Misguided Decisions: Trump could leave Empty Shelves in Major Retailers

    During a confidential meeting conducted in the Oval Office on Monday, the chief executive officers of Walmart, Target, and Home Depot conveyed their grave concerns to the President regarding the potential ramifications of his proposed tariff plans. They underscored that should the President persist with his aggressive tariff strategy and continue to interfere with the Federal Reserve, supply chains may face significant disruptions, resulting in empty store shelves within two weeks. Consequently, Americans would approach Walmart and Target only to find a lack of available products.

    The executives of three of the largest retail chains in the United States cautioned President Donald Trump about the potential negative impact of his economic policies. They stressed that the effects of his actions could be felt within a mere two-week timeframe if he does not alter his course of action.

    In response to these warnings, President Trump informed the press the following day that he intends to significantly reduce the tariffs on China from the previously announced rate of 145%.

    It is evident that President Trump’s grand tariff plan lacks a comprehensive strategy and has not been thoroughly considered. The potential repercussions on the American consumer have not been adequately addressed. This latest decision is yet another misguided move from the President.

    Remember, you’ll be stuck shelling out a “tariff tax” of at least 10% on every single item thanks to Trump’s ridiculous tariff scheme.

  • Trump is Leading America down the Wrong Path

    America has historically led the international community after World War II, but now President Trump is single-handedly destroying all the goodwill built with democracies around the world.

    President Donald Trump has spent the first three months of his second term imposing his will on the rest of the globe, telling long-time allies that they “don’t have the cards.” However, in capitals across Europe and beyond, debates are raging over the strategies they can employ.

    “There’s a change in mindset. We’ve moved on from seduction to strategy,” one EU diplomat said about dealing with Trump. “We’ll take decisions to protect ourselves.”

    The diplomat added: “We need to strike a path that works without Washington.” This includes finding alternative suppliers of military equipment, enacting stronger counter-tariffs, rolling back intellectual property protections for U.S. companies, and reducing reliance on American tech giants.

    Trump’s pursuit of a transactional, mercantilist, and imperialist foreign policy has rattled leaders across the globe. From talking about annexing Canada and Greenland to imposing massive tariffs on U.S. trading partners, his actions have caused many allies to shed any last remnants of hope that they could manage or contain this unpredictable American president.

    Trump is leading America down the wrong path, but we must resist. Let’s stand together and fight against the destruction of democracy and goodwill on the global stage.

  • Farmer in Upstate New York gets Lesson on Trump Tariffs

    Economists are sounding the alarm, cautioning that tariffs will pose a significant financial burden for homeowners and the real estate industry. This is due to the fact that the U.S. heavily relies on Canada for building materials.

    The impact of these tariffs is not limited to homeowners and the real estate sector; American farmers are also feeling the squeeze. A recent story in the Syracuse sheds light on this issue. According to Syracuse.com reporter Geoff Herbert, a dairy farmer named Gilbert, who owns Adon Farms in Potsdam, New York, found himself facing a hefty bill for livestock feed imported from Ontario, Canada. The recent tariff resulted in Gilbert having to pay an extra $2200 for his feed order.

    Despite President Trump’s claims, tariffs are actually paid by domestic importers, not foreign exporters. Gilbert, like many other farmers, is now grappling with the added costs imposed by these tariffs. The situation is further complicated for Adon Farms as the price of the milk they sell is determined by a local co-op, and there are no nearby U.S. suppliers for their feed.

    Additionally, other significant challenges have been pointed out by Garry Douglas, President of the North Country Chamber of Commerce, indicating that several businesses are facing difficulties as well. A local manufacturing company anticipates an increase of $16 million due to rising raw material costs from Canada, while a paper mill is experiencing distress as the specific type of wood required for production is exclusively sourced from northern regions.

    One must wonder, where is Congresswoman Elise Stefanik? The staunch Trump supporter appears to have neglected her voters during a time of urgent need, failing to take decisive action on tariffs and the devastating consequences they have wrought.

    As if things weren’t tough enough, the prospect of levies on fertilizer or farm equipment looms on the horizon. It seems that MAGA land, where Adon Farms is located, is now facing the real-world consequences of Trump’s policies. How do MAGA voters feel about these developments? It’s a question worth pondering as the impact of tariffs hits close to home.

  • Tariffs are Taxes on American Consumers

    The Constitution clearly states that taxes must originate in Congress. Tariffs, as a form of tax, are straightforward in their nature.

    President Trump’s implementation of “reciprocal” tariffs on over 180 countries is facing legal challenges from various businesses. These challenges have led to lawsuits being filed against the administration in both the U.S. Court of International Trade and a federal district court in Florida.

    Efforts are being made to expedite the case to the Supreme Court, as the implications of Trump’s tariffs on businesses are imminent. While most tariffs have been put on hold for a 90-day period to allow for negotiations, China remains a notable exception with tariffs as high as 145 percent on its products.

    The International Emergency Economic Powers Act (IEEPA) does not provide the authority to impose such tariffs. The trade deficit, which Trump claims as the basis for these tariffs, is not an emergency nor an extraordinary circumstance.

    The question arises whether our country will be governed by emergency decrees or by the democratic processes and decisions of Congress. A recent resolution to repeal Trump’s 25 percent tariff on Canada was supported by four Republican senators, including Paul, Collins, Murkowski, and McConnell. However, the resolution faces challenges in the House.

    Senator Grassley emphasized during a Senate Finance Committee hearing that the Constitution grants Congress the power to regulate both interstate and foreign commerce. It is evident that Trump’s tariffs are not well-received among GOP senators.

  • US Consumer Sentiment Drops off the Cliff

    US consumer sentiment has fallen to its second-lowest point in more than 70 years, signaling a concerning trend that is likely to deteriorate further in the coming months.

    The University of Michigan’s Surveys of Consumers, released on Friday, revealed that U.S. consumer sentiment took a nosedive of 11% at the beginning of April compared to the previous month. This decline was widespread and unanimous across all demographics, including age, income, education, geographic region, and political affiliation.

    The latest report indicates that overall consumer sentiment has now dropped to its second-lowest level since the early 1950s. Lindsay Owens, the executive director of the Groundwork Collaborative, expressed her concerns in a statement, emphasizing that today’s plummeting consumer sentiment numbers may just be the tip of the iceberg.

    Thanks to Trump’s reckless trade policies, markets are in chaos, retirement accounts are in shambles, and shipping orders have come to a screeching halt. Brace yourselves for price spikes, shortages, and the looming threat of a recession in the near future, according to Owens. 

    To add insult to injury, as consumers brace themselves for impending disaster, Congress is recklessly tearing apart the safety net they might desperately need when the economic catastrophe hits. President Trump isn’t just failing to lead; he’s plunging us headfirst into a reckless kamikaze mission, oblivious to the chaos he’s creating.

    If the administration can secure even a few deals in this chaotic time, we should brace ourselves for the heavy weight of drastically increased tariffs, effectively slapping tax hikes on American consumers and businesses. It is utterly baffling why the world is being forced to endure such pointless drama!

  • Trump’s Tariff Flip-Flop: Drive U.S. Stocks Down Again

    Despite President Trump’s surprising reversal on tariffs, U.S. stocks took a nosedive back into the red. The confusion and threats surrounding Trump’s trade war with China are causing major turmoil in the economy.

    Trump’s focus on China, NEW 145% as of today, has led to tariffs on their products skyrocketing. Even if negotiations bring that down to 50%, and other countries only face 10% tariffs, the U.S. economy is still at risk of stunted growth and decreased corporate profits. And of course higher consumer prices for us non-billionaires. 

    Francis Lun, CEO of Geo Securities, summed it up perfectly: “With Donald Trump, it’s like playing a game of roulette. You never know what’s coming next.” The market is drowning in uncertainty, and the looming threat of recession is far from fading.

    The news of China planning to cut back on imported U.S. films hit the entertainment industry hard. Warner Brothers Discovery saw a 13.1% drop in stock prices, while Disney took a 6.7% hit.

    In this chaotic environment, thanks Trump, how are investors supposed to make sound decisions? It’s like trying to navigate a minefield blindfolded. Good luck out there! Your 401 is losing money by the hour!

    What it means to you: Overall Price Level & Distributional Effects: The price level from all 2025 tariffs rises by 2.9% in the short-run, the equivalent of an average per household consumer loss of $4,700 in 2024$. Annual pre-substitution losses for households at the bottom of the income distribution are $2,100.

  • Yes, we are still in the midst of a trade war: Tell it like it is Main Stream Media!

    Yes, we are still in the midst of a trade war. The world is currently facing a 10% tariff on all goods, with Canada experiencing a 25% tariff on major items. Despite what the mainstream media may be saying, it is clear that the White House is dictating the narrative. President Trump’s lack of understanding and unclear end game is evident in his actions.

    The tariff battle between the world’s top two economies has escalated, with President Trump now targeting China directly. Despite fears of a recession, Trump has increased tariffs on China to a staggering 125%. This move has intensified the standoff between the two nations, putting their economies and global interests at risk. The competition between the U.S. and China spans various sectors, from artificial intelligence to monetary policy, heightening the stakes.

    Following Beijing’s response to Trump’s tariffs with equal measures, Trump raised the tariffs even further, only to be met with a similar response from China. The escalating tariffs have now reached 84% on U.S. products going to China. In a bold but stupid move, Trump has announced that Chinese imports to the U.S. will face a 125% tariff, citing China’s lack of respect for global markets.

    The situation leaves little room for negotiation, as both sides refuse to back down. The mainstream media’s portrayal of the situation as less severe is misleading. The EU, Canada, and China are all engaged in a trade war with the U.S., with significant consequences for consumers. It won’t be long before the impact is felt, with prices of goods likely to skyrocket. The reality of this trade war is far from what is being portrayed.

  • Trump Has Lost it!! We will say it if the National Press will not

    With today’s 90-day delay of most tariffs, let’s not forget about the 25% on cars and steel and aluminum, and the whopping 125% on China. One has to wonder, is Trump all there? I mean, there was no plan in place, not even within his own administration, as they were giving different rationales on the Sunday talk shows.

    In a surprising turn of events, Trump took to his favorite social media platform to announce that he is graciously reducing tariffs on all countries to a mere 10% for the next 90 days. This comes after his previous misleading descriptions of tariffs as “reciprocal.” However, China will now face a staggering 125% tariff on their exports to the U.S.   Get ready to pay more at Walmart, Target and the like. 

    Countries that exported more to the United States than they imported from American manufacturers were hit with tariffs higher than the 10% baseline. This disproportionately affected poorer countries, whose citizens cannot afford to purchase American goods. For example, Vietnam faced a “reciprocal” tariff of 46%, while Lesotho, a country Trump claimed to have never heard of, was slapped with a 50% tariff.

    The high tariff rate on Chinese goods may come as a shock to Americans accustomed to purchasing cheap household items made there. A T-shirt that once cost $9.99 at Walmart will now likely be priced at over $20. Let’s not forget the MAGA hats that are made in China, well that will also more than double. 

    Now, Trump claims he will negotiate with 75 countries. Is he really willing to give up his weekly golf games for this? How long will this charade last?  Given the track record of this administration incompetence that’s not a promising game plan. 

    In the end, prices will inevitably rise as China shows no signs of backing down. And if the tariffs are lowered, where is the revenue that Trump promised they would bring in? Oh, the mysteries of Trump’s trade policies.  He has lost it.  

    It appears this is just another scatter brain idea Trump didn’t think out. 

  • Experts are Sounding the Alarm on Trump’s Tariffs

    Experts are sounding the alarm on Trump’s tariffs, warning of dire consequences as the trade war with China escalates. China has retaliated by raising its tariff on the U.S. to a staggering 84%, while John Bolton cautions that Trump’s lack of understanding on tariffs could lead to disastrous outcomes. Bolton bluntly stated, “Trump has no idea what he’s talking about. He doesn’t grasp how tariffs function.” 

    Jamie Dimon, CEO of J.P. Morgan Chase, has grimly predicted a recession as a probable result of Trump’s relentless tariff actions. Dimon expressed his concerns, stating, “A recession is likely on the horizon.”

    As tensions rise, Beijing has implemented various countermeasures in response to Trump’s decision to increase tariffs on Chinese imports to a whopping 104%. China has taken legal action against the U.S. at the World Trade Organization and imposed further restrictions on American companies conducting business with Chinese counterparts.

    Despite calls for dialogue and negotiation, China remains steadfast in its stance. Ministry of Foreign Affairs spokesman Lin Jian emphasized the need for equality, respect, and mutual benefit in resolving issues.

    The repercussions of this escalating trade war are dire. Financial markets are expected to experience significant volatility, U.S. inflation pressures will rise, the industrial base will weaken, and the risk of an economic recession looms large. Ultimately, Trump’s tariff strategy may prove to be a self-destructive move that backfires on the U.S.