Lately Iv’e been trying to follow along with the debate on the Presidents statements regarding tariffs. A tariff is a tax that is imposed on import and export goods. We currently have deals with numerous countries for imported aluminum and steel that Trump threatens to apply strict tariffs on. It has been repeatedly said that imposing strict tariffs on aluminum and steel could potentially create a tariff war with many countries including our allies. The argument was that by imposing tariffs on aluminum and steel other countries would retaliate by imposing their own tariffs on some of our export goods, in turn, creating an endless back and forth.
On Tuesday, 03/06, President Trump has made it clear that he plans to go through with his claims of setting a 25% tariff on steel and 10% on Aluminum. Many sources are all stating that economists and Republican White House (WH) staff are urging the President to reconsider his proposition with little to no success. One of the primary individuals fighting to keep the President from implementing tariffs was Gary Cohn. Cohn served as Trump’s chief financial advisor and had previously been the president and chief operating officer for Goldman Sachs. Cohn officially resigned from his position after today’s claim, which points to an accurate assumption that Trump has made up his mind about implementing the tariffs.
Trump has exhausted my mind and it kills me that he thinks things are running like the saying “business as usual”. If you are to explore Mr. Trumps tweets I’m sure you will be mortified. I choose not to follow him on twitter, even when I think I can keep up with current political events by doing so, I refuse to do it. My stance is that I get enough his opinion from reading news articles and watching clips of his interviews. Each time I happen upon a tweet of his I cringe. Seeing and Hearing his rhetoric gives me a migraine. I don’t know how much more of him I, better yet, we can take.
Listen in as I exasperate over our current economic standoff.