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What exactly is the point of the Trump trade war? Asking this question to different people in the White House gets you different answers, and Trump himself (as usual) contradicts himself almost daily, attempting to have things both ways. The clueless nature of the entire exercise is becoming more and more apparent as the first week of the Trump trade war draws to a close.
Well, not really, not yet -- not enough to justify that particular word, but hey, we couldn't resist....
While it doesn't rise to the level of a "revolt" quite yet, there is already a significant pushback on the Trump tariff war coming from within the ranks of his own party. One Senate bill to rein in the tariffs already passed with four Republican votes, and that number has now grown to seven GOP senators who are cosponsoring an even wider clawback of the constitutional power of levying taxes from the White House. Significantly, now a House Republican has said he's going to introduce a companion bill in the House.
This isn't enough -- not yet, at any rate. But it is rather surprising to see happen so quickly. But then this whole self-inflicted economic crisis has been moving rather swiftly all around, so perhaps it's not that surprising to see.
So, does everyone feel wonderfully "liberated" now?
President Donald Trump, in his second term, decided to liberate himself from having any adults in the room when he made important decisions. Instead, he surrounded himself with ass-kissers and other assorted sycophants, all of whom tell him he is great no matter what crazy notion pops into his head.
This is the result. Yesterday, the Dow Jones average lost 1,600 points. Today it lost another 2,200 points. Trump has singlehandedly crashed the economy -- and we're only two days in.
There is no shortage of colorful language (and memes!) being used today to describe the new Trump Tax we're all about to pay -- after having been "liberated" from, y'know, paying less money for stuff. I chose the term financial pundit Ross Gerber used to describe it for the headline, as it seemed the most descriptive:
Before the votes were counted in Wisconsin last night, Elon Musk said the race "might decide the future of America and Western civilization" and "the future of the world." Afterwards, he tried to spin the outcome: "I expected to lose, but there is value to losing a piece for positional gain." Nice try, Elon.
While this is not going to be an "April Fools!" column per se, it certainly is going to deal with some rampant foolishness from the Republicans in Congress right now. Because what they are trying to do is to replace actual math with nothing short of fantasy math. They are making this attempt to pull the wool over the taxpayers' eyes in order to reward billionaires, without it "costing" a thin dime -- when in reality, it's going to cost upwards of $5 trillion.
So... is everyone ready to pay more for everything? Because that's why America elected Donald Trump president, right?
On Wednesday, Trump will be announcing sweeping tariffs on the entire rest of the world. As he likes to put it, "tariff" is his new favorite word in the dictionary. But consumers are likely to call it what it will actually be, to them: a tax. A big fat "Trump Tax" on all sorts of things consumers buy. Which will likely drive up inflation, and which will definitely hit consumers hard in the pocketbook.
In keeping with the "world turned upside-down" nature of this week, we are going to start with a few things that haven't been front-and-center, then we'll circle in to a bigger-picture take, and finally we'll fit in the big story of the week at the end.
House Republicans seem to be getting worried. Their historically-thin majority isn't in jeopardy quite yet, but the political trends aren't exactly going in their direction. Which led to a surprise announcement from the White House that the nomination of Representative Elise Stefanik to be the ambassador to the United Nations was being pulled. Stefanik had already delayed going through the Senate confirmation process, since her vote was needed on budget bills. But now she won't be confirmed at all, as Republicans worry about holding on to their majority.
Without a doubt, we now live in Orwellian times. Anyone who runs afoul of the Dear Leader must be punished. The truth is whatever the Dear Leader says (even when he contradicts something he earlier said). We don't have a Ministry of Truth (yet), but we do have Truth Social. We have always been at war with Canada, and Russia has always been our friend, right? The past is being rewritten, erasing any mention of the trans people who were instrumental in leading the Stonewall Riots, and any mention of why pioneers like Jackie Robinson weren't considered just some random baseball star. Maybe Rosa Parks will be next: "She was just some woman on a bus... not really sure why some woman on a bus is historic, but everyone remembers her name for some reason...." In all this Orwellian flood, though, the one that stands out for me is the up-is-down nature of the richest man in the world absolutely destroying major government departments in the name of "government efficiency." That one really takes the Orwellian cake, as it were.