Post #37103 by PucksFool on the US Policy board

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… Trump launched his global trade war today with an announcement that 25% tariffs will be imposed on imports from Canada and Mexico, and 10% tariffs on China beginning tomorrow.

… Trump promised much higher tariffs than this on China repeatedly during the campaign, but it appears Elon Musk was successful in negotiating those down for his largest business partner - the Chinese Communist Party.

… Trump held a brief press conference in the Oval Office to announce the tariffs tonight. He was asked why he was doing this since he promised Americans that he would lower prices: “Tariffs don’t cause inflation. Tariffs cause success. There could some temporary short term disruption. And people understand that.”

… The stock market, which was up before the tariffs were announced today, took a nosedive the minute the announcement was made. Press Secretary Karoline Leavitt made the announcement at 1:00 PM. This is what happened. The Dow closed the day down 337.54.

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