One day there are up the next they are down…..is it to give his, being Trump, Fat Cat buddies a chance to make more money?
It appears so to me.
Donny’s newest threat was against Apple…..
President Trump’s latest tariff threat is directed at Apple—he is threatening a 25% penalty unless the company starts making iPhones in the US, reports NBC News. Most are currently made in China, though CNBC notes that the company has been recently moving some production to India.
- “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote Friday on Truth Social. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!”
- EU, too: Trump also threatened to impose a 50% tariff on the European Union, one of the nation’s largest trading partners, per the Wall Street Journal. He faulted their “powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits” against US companies.
- Markets: Dow futures were down more than 600 points on the combined threats. Apple shares fell about 3%.
Apple’s drop effected the entire market….
US stocks fell Friday after President Trump threatened 50% tariffs on the European Union that could begin in a little more than a week.
- The Dow dropped 256.02 points, or 0.6%, to 41,603.07, off 2.5% for the week.
- The S&P 500 declined 39.19 points, or 0.7%, to 5,802.82, finishing the week down 2.6%.
- The Nasdaq fell 188.53 points, or 1%, to 18,737.21, down 2.5% for the week.
Trump threatened the tariffs before the US stock market opened, saying on his Truth Social platform that trade talks with the EU “were going nowhere” and that “straight 50%” tariffs could go into effect on June 1.
Stocks fell immediately in Europe, the AP reports. The US market also took a quick turn lower, and futures for US stock indexes tumbled after earlier suggesting only modest moves at the open of trading. The S&P 500 lost as much as 1.3% shortly after trading began, but it pared its loss as traders weighed whether Trump’s latest threats were just negotiating tactics aimed in hopes of getting a deal or something more. Apple dropped 3% and was the heaviest weight on the S&P 500 after Trump went after the company specifically. He said he’s been pushing Apple to move production of iPhones to the US, and he warned a tariff “of at least 25% must be paid by Apple to the US” if it doesn’t.
I have thought from the beginning that these tariffs were a game that Donny is playing and the more he employs these yo-yo economic policies the more I am convinced that these tariffs are put in place to benefit him sand his Fat Cat thugs…..those people that care NOTHING for this nation and its people as long as they can continue to play the system for their benefit.
Does anyone see this as ‘making America great again’?
If so please define why.
I Read, I Write, You Know
“lego ergo scribo”
As I always say, this is only ever about shorting stocks to play the market. It has NOTHING to do with jobs, trade, or the ordinary American workers.
Best wishes, Pete.
I believe that is Donny’s game from the start chuq