President Trump’s new tariffs, announced on “Liberation Day,” targeted numerous U.S. trading partners, notably excluding Russia, Belarus, North Korea, and Cuba. White House National Economic Council Director Kevin Hassett explained that this exclusion stemmed from a conscious decision to avoid complicating ongoing peace negotiations between Russia and Ukraine. Imposing tariffs at this juncture, Hassett argued, risked disrupting diplomatic progress. While Ukraine faced new tariffs, its economy minister deemed the impact manageable, despite significant trade with the U.S.
Read More
Driven by fears of a global recession and trade war sparked by President Trump’s tariff plan, the Australian share market experienced a significant plunge, losing over $160 billion initially before partially recovering to approximately $100 billion in losses. This sell-off, impacting sectors across the board, mirrored market crashes during the Covid-19 pandemic and Global Financial Crisis, but with the unique element of a single individual initiating the downturn. The Australian dollar also plummeted to pandemic-era lows against major currencies, reflecting concerns about reduced commodity demand in a slowing global economy. Investors anxiously await signs of a trade truce to gauge the market’s future trajectory.
Read More
President Trump’s newly announced tariffs, ranging from 10% to 50%, have triggered significant market downturn and recessionary fears. These tariffs, purportedly reciprocal, are calculated using a flawed formula that inflates foreign tariffs fourfold by misinterpreting price elasticity data. Correcting this error would dramatically reduce the tariffs to near the 10% minimum for most countries. The administration’s formula lacks economic justification, raising concerns about the soundness of the underlying trade policy.
Read More
Asia-Pacific markets experienced a significant sell-off on Monday, driven by anxieties surrounding a potential global trade war ignited by President Trump’s tariffs. Hong Kong’s Hang Seng Index suffered the most dramatic losses, plunging 9.56%, while Japan’s Nikkei 225 fell 6.38% to its lowest point in 18 months. Other major markets across the region, including mainland China, South Korea, and Australia, also experienced substantial declines, indicating widespread market concern. The widespread sell-off underscores the escalating impact of trade tensions on global markets.
Read More
The EU’s response to Trump’s tariffs is a complex dance of unity and self-preservation. The initial reaction, focusing on retaliatory tariffs on goods like bourbon and toilet paper, feels somewhat symbolic, highlighting the absurdity of the situation but potentially lacking the impact needed to sway Trump. The question of whether some member states might simply absorb the tariffs to avoid escalation is very real, mirroring Australia’s hesitant stance, a strategy rooted in the fear of worsening the situation and the understanding that counter-tariffs would only increase domestic prices. However, other nations, including Canada and much of Europe, are prepared to push back, accepting the inevitable rise in inflation as a consequence.… Continue reading
Trump’s tariffs, according to a conservative think tank, stemmed from a fundamental miscalculation. The entire policy was built upon a flawed understanding of basic economics, leading to significantly inaccurate estimations of their impact. This wasn’t simply a minor oversight; it was a profound error in judgment that had far-reaching consequences.
The core issue lay in the formula used to determine the tariff levels. The administration’s approach fundamentally misunderstood how tariffs affect import prices, resulting in drastically inflated levies. They incorrectly assumed that a minimal portion of the tariff would be reflected in the final price paid by consumers.
The reality, as highlighted by the think tank, is far different.… Continue reading
Senator Ted Cruz warns that President Trump’s tariffs risk triggering a recession and a Republican “bloodbath” in the 2026 midterms, potentially leading to Democratic control of Congress. He expresses concern over potential global trade war retaliation and the long-term economic damage such policies could inflict. This anxiety is shared by other Republican senators, evidenced by bipartisan legislation aiming to grant Congress greater control over tariff policy. Recent electoral setbacks for Trump-backed candidates further highlight the growing unease within the Republican party. Cruz advocates for significantly lower tariffs to ensure economic prosperity.
Read More
Elon Musk publicly criticized Peter Navarro, a Trump trade advisor and architect of the “Liberation Day” tariffs, calling Navarro’s Harvard PhD irrelevant and his self-confidence excessive. These tariffs have caused significant global economic turmoil, including major stock market drops. Musk advocated for a zero-tariff situation between the U.S. and Europe, a stance directly opposing Trump administration officials like Vice President Vance and Defense Secretary Hegseth, who hold strongly anti-EU views. This conflict highlights a growing rift between Musk and the Trump administration’s MAGA agenda.
Read More
Trump’s tariffs represent a potentially catastrophic economic blunder, arguably the worst in nearly a century. The sheer scale of the economic disruption they’ve caused is unprecedented, recalling historical parallels like the Smoot-Hawley Tariff Act of 1930, a period synonymous with economic hardship. The comparison isn’t arbitrary; the potential consequences are strikingly similar.
The timing of these tariffs is also alarmingly reminiscent of past failures. Similar large-scale tariff implementations have been spaced roughly a century apart, suggesting a cyclical pattern of forgetting the disastrous consequences. This pattern underscores a failure to learn from history, a failure that now threatens to repeat past mistakes on a potentially even larger scale.… Continue reading
President Trump’s newly implemented 10% universal tariffs on all imports took effect Saturday, prompting a significant market downturn and widespread protests. Despite the economic fallout, including a double-digit drop in major market indices, Trump urged Americans to “hang tough,” predicting ultimate economic victory. He simultaneously played golf for the second consecutive day, while China retaliated with its own reciprocal tariffs. Trump claims these measures are necessary to revitalize American manufacturing and level the global playing field.
Read More
John Q. Hosedrinker 
Matt Underwood