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Virtual Ministry Archive
BREAKING: An analyst for CNBC breaks down Donald Trump's disastrous tariffs so that even MAGA voters can understand: "I've never seen anything like it" and it's "worse than the worst case scenario." Trump's economic dark age is upon us... Today, Trump finally unveiled his new slate of tariffs and they are a recipe for collapse. They include 10% tariffs on almost all goods coming into the United States with even higher tariffs on select nations. The price of everything is about to skyrocket. The European Union, Mexico, Canada, China, Japan, and South Korea have already promised to retaliate to the US tariffs, meaning that prices will rise even more. Dow Jones futures lost 1.8%, S&P futures fell 3%, and NASDAQ futures plummeted 3.8% after the announcement. Company specific stocks are also in free fall with Apple losing 6% and Nike losing 7%. Gap dropped 12%. "The market reaction after hours, I've never seen anything like it," said the CNBC analyst. "This, I think fair to say, is worse than the worst case scenario of the tariffs that many in the market expected the president to impose." "You laid out a number of the percentages there and there's some question of how the administration calculated the percentages that they're responding to in each of these cases," he continued. "Are they adding in value added taxes? He talked about you know, non-tariff barriers as well." "So I think while many were hoping that this would eliminate uncertainty, there's going to be more uncertainty in the market and from those watching policy tomorrow," he went on. "Well, if you know if countries push back on how these non-tariff barriers were calculated will there be wiggle room here?" he continued "Exactly when do these go into effecT? How quickly are companies going to have to adjust their pricing? So many questions." Trump has claimed that these ill-advised tariffs will stop foreign countries from "taking advantage" of us and build up American manufacturing. In reality, all they will accomplish is the impoverishing and immiseration of tens of millions of Americans. All of our former allies will see that we are no longer a stable trading partner and will turn to places like China to forge new relationships. We have become the world's pariah and gained nothing in the process.
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