Wall Street Journal (April 3)
“The tariffs Trump announced would lift the average duty above the previous peak of 1930. It is by far the most disruptive component of an agenda that may be one of the most disruptive of any new president since the 1930s, one that includes slashing immigration, government spending, taxes and regulations.” The timing for all this is striking. “The economy he inherited was the envy of the world with growth of 2.8% last year, faster than almost every other major developed economy, an unemployment rate of just 4.1% and inflation of 2.8%. Stocks were at record highs.”
Tags: 1930, Disruptive, Duty, Economy, Government spending, Growth, Immigration, Inflation, Regulations, Stocks, Tariffs, Taxes, Timing, Trump, Unemployment
Investment Week (April 1)
“Some of the world’s largest investment banks and a major credit ratings agency have upped their expectations of a recession in the US and globally as trade war woes loom large.” U.S. President Donald Trump “is expected to unveil sweeping tariffs on major trading partners on Wednesday.”
Tags: Credit ratings agency, Expectations, Globally, Investment banks, Loom, Major, Recession, Sweeping, Trade war, Trading partners, Trump, U.S., Woes, World
New York Times (March 31)
President Trump is poised to introduce what are at least “the nation’s highest tariffs since the 1940s.” Unfortunately, these will lead to “lower economic growth, higher inflation, higher unemployment, the destruction of wealth and a tax increase on American families.” In addition, they “will deal a blow to the rules underlying the global trading system and further empower China.”
Tags: Destruction, Economic growth, Empower, Families, Global trading system, Higher inflation, Highest, Rules, Tariffs, Tax increase, Trump, U.S., Unemployment, Wealth
