Trump backed off on his tariff bluster for at least 90 days

@NJChicaa (122343)
United States
April 9, 2025 3:30pm CST
It was inevitable after the stock market was crashing and both his billionaire friends and some GOP members of Congress publicly criticized his insane tariffs. Interestingly some of his buddies like MTG bought loads of stocks while the market was crashing. It is almost like. . . they knew that he was just bluffing and would not enact the tariffs. What is that they call it? Pump and dump? or maybe in this case it was dump and pump? I don't know but point is they bought low because they knew it was a very temporary situation that their buddy would reverse. So the tariffs on every country (and the islands inhabited only by penguins and birds) have been paused for 90 days. . . except for China. The VERY STABLE GENIUS just INCREASED them from 104% to now 124% because they won't rescind their retaliatory tariffs. It really boggles the mind to know that this moron has a diploma from the Wharton School of Business. I texted my ex this afternoon to ask if his company was freaking out yet. (They use a ton of steel for their manufacturing projects) He said no and asked why. I said because everyone keeps saying that the US gets most of its steel from China. He said that public projects (most of his company's) are limited to using US steel but he did recently buy some from Luxembourg. He was like "that is a whole different story". No clue what that means but I'm just glad to hear that his company doesn't seem to feel that it will be massively affected by this tariff crap. My neighbor's Temu purchases are totally screwed though.
https://www.cnn.com/2025/04/09/politics/china-trump-tariffs-trade-war/index.html
5 people like this
5 responses
@FourWalls (73610)
• United States
9 Apr
You don’t think he keeps saying that to drive down the price of stocks just so he and his buddies can buy them, then he changes his mind to drive the price back up, do you? I mean, that’s as illegal as hell, and…oh, never mind. Forget it.
2 people like this
• United Kingdom
9 Apr
That’s in my thoughts too! Some people will be making a killing out of this, and some must be losing big time.
2 people like this
@LindaOHio (186596)
• United States
10 Apr
The stock market says it all.
1 person likes this
@Orson_Kart (7274)
• United Kingdom
9 Apr
He’s certainly messing with the world’s stock markets. The city boys mustn’t know if they are coming or going!
@JudyEv (350883)
• Rockingham, Australia
10 Apr
Norfolk Islanders and the penguins will all be celebrating!
1 person likes this
@jaylar (1235)
• Kingston, Jamaica
9 Apr
although Trump will lie, he had to take off the tariffs because the millionaires demanded. They lost money, they were put into uncertainty. Anyone who does research will uncover that America is not the centre of the universe. China is not going to suffer. Americans will, as the price of computer and their parts go up over 100%
1 person likes this