Dow down 1,500 points, S&P 500 and Nasdaq plunge as Trump tariffs roil markets; Apple, Nvidia and Nike slump; dollar and gold dive.
The EU is preparing for war as they claim the US is hurting the global economy.
The markets don’t like uncertainty, and the EU wants to make money at our expense.
The president said he was being lenient and the U.S.-imposed tariffs were roughly half of what other nations charged through tariffs and other trade barriers.
The Trump administration says the levies are a long-overdue restructuring of a global trade order stacked against the U.S. and its workers.
Foreign nations sell their wares to us and ignore our producers.
Commerce Secretary Howard Lutnick defended the move, saying other countries “need to evaluate their treatment of the U.S. economy.”
“This is the reordering of fair trade,” Commerce Secretary Howard Lutnick said Thursday on CNBC’s “Squawk Box.” “It’s about those non-tariff trade barriers. That’s what we are addressing.”
“I expect most countries to start to really examine their trade policy towards the United States of America, and stop picking on us,” Lutnick continued. “Stop saying that we can’t sell our corn to India, stop saying that we can’t sell our beef anywhere. Just stop treating us so poorly.”
Too many Americans are sticking up for the countries taking advantage of us. The market will come back and the long term effects is what we need to watch for. We also don’t need to support the very people getting rich off us while we go deeper and deeper into debt.
Look at the chart if you haven’t seen it yet.
Subscribe to the Daily Newsletter
wpDiscuz
