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“Trump’s erratic approach to the economy had already rattled markets, which dropped significantly in the first quarter of this year… Trump waited until the stock market had closed today before he announced the new tariffs. … Trump claims he is imposing “reciprocal tariffs”… In fact, the numbers he is using for his claim…are bonkers.”
—Heather Cox Richardson, April 2, 2025 (Wednesday)
https://heathercoxrichardson.substack.com/p/april-2-2025-wednesday
#trump ‘s #usa

April 2, 2025 (Wednesday)

Just five months ago, on October 19, 2024, The Economist ran a special report on America’s economy.
Heather Cox Richardson (Letters from an American)
#trump #usa
janhoglund
“…economists agree that tariffs are a tax on consumers and will raise inflation and slow down growth. Today’s tariffs are higher than expected, and business leaders are alarmed.”
—Heather Cox Richardson, April 2, 2025 (Wednesday)
#trump ‘s #tariffs
#trump #tariffs
janhoglund
“…they [tariffs] are a way to make private industry dependent on the president the same way he has tried to make law firms and universities dependent on him.”
—Heather Cox Richardson, April 2, 2025 (Wednesday)
#trump ‘s #corruption
#trump #corruption
janhoglund
“There is also Trump’s apparent fascination with President William McKinley, who held office from 1897 to 1901, at a time when high tariffs concentrated wealth in the hands of industrialists while workers and farmers, as well as their families, faced injury, hunger, and homelessness from dangerous working conditions, low wages and commodity prices, and seasonal factory closings.”
—Heather Cox Richardson, April 2, 2025 (Wednesday)
#trump ‘s #tariffs

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