The US president\u2019s tariffs are vengeful and impetuous \u2013 and will have immense costs with no clear goal<\/p>\n
With the huge and painful tariffs<\/a> that Donald Trump<\/a> announced on Thursday, \u201cTariff Man\u201d is acting like a paranoid 12-year-old bully who is convinced that everyone has wronged him, and he wants revenge. But the president\u2019s instrument of revenge \u2013 massive tariffs \u2013 is going to do serious damage to the US and global economies. Stock market investors are convinced that\u2019s the case, with Wall Street and world stock markets losing trillions of dollars in value in recent days as a result of Trump\u2019s obsession.<\/p>\n The president has escalated his risky, vengeful trade war even though the US economy was in strong shape when he took office \u2013 the jobless rate was just 4.1%, inflation was below 3% and US economic growth was the strongest in the industrial world, with its stock market at record levels. So it\u2019s unclear whether the US economy needed the shock treatment that Trump is inflicting. The price increases resulting from his tariffs \u2013 which are a tax on imports \u2013 will cost the average American family $3,800 a year<\/a>, according to the Budget Lab at Yale.<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The US president\u2019s tariffs are vengeful and impetuous \u2013 and will have immense costs with no clear goal With the huge and painful tariffs that Donald Trump announced on Thursday, \u201cTariff Man\u201d is acting like a paranoid 12-year-old bully who is convinced that everyone has wronged him, and he wants revenge. But the president\u2019s instrument … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-37987","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/37987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=37987"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/37987\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=37987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=37987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=37987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}