This story appeared in disconnection, A Daily newsletter that helps you stay informed of the Trump administration without letting new policies take over your life. Subscribe here.
Welcome to disconnection: Today, I focus on the economic benefits of Donald Trump’s prices, because the consequences of the president’s large uncontrolled power become clearer and more alarming.
What is the last? After more defeats today, the DOW is down more than 4,000 points since Trump deployed its prices on Wednesday afternoon. The markets dropped for the last time in 2020, when the economy was systematically closed to fight COVID-19.
What is the next step? The tariffs of 10% and on the other side of the boards entered into force on Saturday. The targeted and higher prices on specific nations come into force on April 9.
And more prices could happen. After China threatened to retaliate against Trump’s new prices with a 34% tax on American goods, the president threatened with 50% additional prices on Chinese products unless Beijing is backing up. This is the last sign that Trump’s prices sparked a world war in the trade.
Can anyone stop Trump’s prices? A handful of Senate republicans support a bill that would limit Trump’s authority to impose prices without the blessing of the congress. But even with all the Democrats on board, the legislation does not have enough support to prevail over Trump’s promised veto and does not seem to become law.
What is the overview? Even before Trump takes up his duties, the observers discussed the question of whether his speech on massive rates was a bluff or a plan. It seems that investors bet on the first, and now that prices come into force, financial shocks are real.
How much will it become bad? It largely depends on Trump. He said other nations send teams to negotiate, which means that there is still a chance that certain prices can be canceled. But if a significant part of these taxes is increasing, economists predict higher prices and slow economic growth – if not a pure and simple recession.
If you need a distraction, allow me to point to this incredible livery of a white pygargue nest – with two Aiglets – in the Big Bear Valley of California. (And thank you very much to the reader who sent an email to suggest this!) If the upheaval of the market asks you what to do, my colleague combines Volpe has an excellent article on how to start an emergency fund for difficult times. Thank you very much for reading. See you here tomorrow.
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