My fear is too few people carefully track U.S. economic policy amy more. My fears increase when I come across Tweets like this:
Here is the entire, short thread, extracted from Tweets from “BumbleBee.” I hope to come back and add links; please feel fee to offer links to confirmation, in comments. Or, if you know of other effects not lusted here, please show those links.
[President Trump’s] tariffs are having a real impact on U.S. businesses, for example:
CaseLogic – closing
Element Electronics – closing
Harley Davidson – going overseas
Mid-Continental Nail – laid off 60 employees, lost 50% of orders, may close by Labor Day
REC Silicon – cut production by 25%
Trans-matic – cut production by 25%
Toyota – added $3k to cost of each car
Multiple companies are also asking for exemptions from the 25% tariffs. Here are just two examples: Batesville Tool & Die, or will shift manufacturing to Mexico as well as Qualtek Mfg, because tariffs have driven annual costs up by $300k. They couldn’t hire add’l 14 employees, [have] delayed shipments, and customers have diverted orders to others suppliers. Says tariffs have “cut us off at the knees.”
It is also affecting U.S. farmers drastically. One farmer in Illinois says he is losing $8 a head on pork, and he is losing money on everything he grows. Says that 95% of everything he produces was shipped outside U.S. borders.
The Senior Director of Commodities says there will be long term indications because of the tariffs. Says that it took 20 years to get the markets back to normal after the last trade wars, and farmers will be relying heavily on the government for a long time.
Anyone who supports Trump’s idiotic tariffs and believes “trade wars are easy to win” have no idea what they are talking about, and no clue how they affect people down the line. I have friends trying to sell their farms in both Kansas and Nebraska.
Trump, you’re an idiot.
And what’s your mileage on the trade wars?