Saturday, June 1, 2019

Tariff Wars: Did 'Don the Con' Go Too Far This Time?

Good Day World!

"It's when I sip coffee that I know I can handle anything that life can throw at me." - Anthony Hincks 

Holy crap! It's happened!

Trump has pushed a lot of his minions too far and signs of dissent are coming from the GOP held senate.

Grassley Slams Trump Tariffs on Mexico: 'A Misuse of Presidential Tariff Authority'

The misuse Grassley is talking about is the latest moronic move by an out-of-control president: As of June 10th, Mexico is going to get hit with a 5-percent tariff on all goods.

So Trump, Mr. Art of the No Deal, is attacking another ally. 

His plan to keep increasing the tariff 5-percent a month thereafter, until Mexico somehow miraculously stops illegal immigrants from crossing the southern border in the United States, has shocked his supporters and American businessman are speaking out.

The powerful U.S. Chamber of Commerce responded to this stupid move Friday:

Business Groups Might Sue White House Over Mexico Tariffs 

It was only a week ago that Trump's advisers were thrilled when he dropped the steel and aluminum tariff on Mexico and Canada.

These same advisers were hoping to pass the NAFTA makeover with a new trade agreement (negotiated in September 2018) called USMCA (U.S.-Mexico-Canada Agreement).

No such luck now. Don the Con quickly reverted back to bullying with tariff attacks on Mexico. Don't expect USMCA to ever get through congress.

Meanwhile...

The stock market has been taking it on the chin, with big losses Thursday and Friday as the market reacted to Trump's so-called "Big League" announcement.

Expect to see more headlines like these:

Beer and Liquor Stocks Get Whacked By Mexico Tariffs

Expect to see the price of avocados and tomatoes go up, along with the price of cars, machinery, and medical supplies.

Keep in mind that this tariff goes both ways. America sold just shy of $300 billion in goods to Mexico. The chances of retaliation from Mexico are high.

I'll be watching GOP senators closely next week as they try to deal with Trump's latest temper tantrum.

Could it be Don the Con had gone too far this time?

Time for me to walk on down the road...

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