The stock market lost over $300 billion in value in 15 minutes due to six tweets from President Trump. He even joked about the Dow being down later in the day as investors lost over $500 billion on Friday.Twitter Companies won’t be bringing manufacturing back to the U.S. While there may be some limited movement of manufacturing jobs back to the U.S. it isn’t a cost competitive country. And if they did the manufacturing processes will be highly automated with few workers. Companies will be looking to move to other Asian and a limited number of other countries since they will need a low cost labor force and similar supply chain infrastructure that they had set up in China. It will be interesting to see if the Trump Store will move the sourcing of its items to only being made in the U.S. It’s website has a that does not encompass all of the merchandise that the organization sells. President Trump tweet Twitter The gap between the U.S. economy and China’s is actually shrinking While Trump is correct that the U.S. economy is much larger than China’s, it is incorrect that the past two and a half years has led to this. In fact with the U.S. economy only growing at a 2.4% and 2.9% rate in 2017 and 2018, respectively, vs. China’s growing around 7% the difference between the two countries economies has actually shrunk. President Trump tweet Twitter Trump should look in a mirror and not make jokes as investors lose almost half a trillion dollars Trump sent out a tweet when the market was open seeming to make a joke that the Dow was down 573 points due to Representative Seth Moulton dropping out of the Democratic Presidential field. This was at a time when the S&P 500 had lost over $450 billion in value. President Trump tweet Twitter Deficits do not equal losses Trump continually equates a trade deficit with an economic loss. While China has taken advantage of U.S. companies in many ways (which the companies did agree to to get access to Chinese markets) and U.S. workers in various industries have experienced many hardships by production being moved to China, U.S. consumers have benefited with lower priced goods and many that would have not been economical to produce in the U.S. President Trump tweet Twitter Increasing tariffs from 25% to 30% on $250 billion of goods The U.S. imported $540 billion in goods from China in 2018 but for the first half of this year imports are 12% lower. Taking seasonality into account the U.S. should import about $475 billion in goods from China in 2019. At a 30% tariff it will impose a $75 billion hit to the economy. It is also worthwhile to note that goods exports to China are running 19% below 2018’s level, which translates to $20 billion in fewer exports (and therefore U.S. jobs) this year. President Trump tweet And the remaining $300 billion to be taxed at 15% vs. 10% The U.S. Trade Representative released a statement that the increased tariffs subject to the 15% tariff would be implemented on the same schedule as previously announced. This means that the bulk of consumer goods won’t see the impact until 2020. When all the tariffs are implemented they have about a $110 billion negative impact to the economy. Note that Trump used the word taxed in relation to the tariffs in these last two tweets. He had previously said that China is paying for the tariffs (which is incorrect) so it will be interesting to see if he continues to use this verbiage realizing that tariffs are really a tax on U.S. companies and consumers. President Trump tweet Read more: Forbes
Great article laying out the fact that the US is losing, not winning under Trump. He and his cult will surely blame others without any basis in reality though as we all bare the brunt of his ineptitude and lies! AnybodyButTrump2020 LoserTrump 25thAmendmentNow FactCheckMaga Big business is watching, still from the sidelines. How long will that continue? How long will they continue to prop up our tin hat wannabe dictator?corporateaccountability CountryOverParty
We must stop selling China food stuffs! American farmers can just cut down on production and take less money..i say stop feeding China! Why must America support a Chinese communist government anyway.china sells us cheap crap and you all know it.only to build thier army up to possibly conquer the known world and put all of nonchinese under the whip of slavery with no human rights.american farmers are feeding China
Unpack how much money trumps businesses would make with a fed cut! No wonder the guy want fed cuts😏 pffffffff Talk about Swampy Swamps 😎
MSG Sphere, A Spherical Las Vegas Strip Venue, Could Cost More Than $1.2 BillionCompany and project officials are estimating the costs of a spherical entertainment venue under construction on the Las Vegas Strip at between $1.2 billion and $1.7 billion. wow ProudOfYou DevonTracy : A pretty penny or an ugly penny is still only a penny
Dow Tumbles As Markets Finish Fourth Straight Weekly LossRecession anxiety, tariffs, the Fed and Trump tweets shook markets. Omg snowflakes ❄️ You forgot to add due to drump meltdown and tirade of idiotic tweets that warrant impeachment .realDonaldTrump “So much winning”!
Dow Tumbles As Markets Finish Fourth Straight Weekly LossRecession anxiety, tariffs, the Fed and Trump tweets shook markets. The Dow goes down and the Euro goes up. What a correlation! I wonder of Pontius POTUS will tweet “Thank you”. 🙏
Box Office: 'Angel Has Fallen' Rising to $20M U.S. DebutElsewhere, 'Hobbs & Shaw' is celebrating crossing the $500 million mark at the global box office as it opens to huge numbers in China. One more turkey and Butler can open a Deli Just for some days ? & what will it be when the film will be broadscast in France on August 28 next 😱😁 Why does the industry always underestimate Gerald Butler as his films might be dreadful but audiences still come out to see them?
She-Hulk, Moon Knight and Ms. Marvel coming to Disney+Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.
Here’s what a payroll tax cut would cost the governmentCutting payroll taxes might help stop an economic slowdown but would cost the government hundreds of billions of dollars at a time of rising fiscal deficits,... Chinese stealing from America for decades! China loves Joe Biden!! The largest event defect in US history Oh! The Republi-KLANs have already achieved that!! Did you mean, Here's what the payroll tax cost Americans...?