Trump’s tariff reversal came after he watched an interview on Fox Business with JP Morgan Chase CEO Jamie Dimon, during which the bank boss said that a recession was a “likely outcome” of the new trade policies, according to the Washington Post.
Trump was asked by a reporter on Wednesday when he decided to put a pause on the tariffs.
“I would say this morning. Over the last few days, I’ve been thinking about it. Fairly early this morning,” he said.
It’s important to the world to drop the “quietly” bit.
The US administration is behaving erratically and irrationally. This isn’t a punchline to some smug joke, it has important repercussions for world trade and defence needs.
Let’s cut the conspiracy theories about how they are doing this for graft, and the unfounded “4d chess” approaches. Some people in the administration may be trying to steer the government in these ways, but the captain of the ship is an unleashed chaos monkey surrounded by sycophantic yes-men.
The tariffs could double tomorrow or be gone tomorrow. The US could invade Greenland with a military force tomorrow or drop it completely move onto some shiny new idiocy.
We in the rest of the world need to move with urgency in order to be prepared for the worst. This is a tall task, so the longer we keep these admissions quiet the longer we are vulnerable
!lemmysilver
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Good bot
He could be insane and doing it for graft. He obviously sees himself like a mobster and tries to operate like one. My theory is he wants to individually negotiate tariffs to solicit bribes from businesses and foreign countries. It’s not exactly 4d chess. He just knows he has the power to pressure the richest and most powerful people on the planet, so he’s going to use that power to enrich himself and family. I don’t think he actually understands much about tariffs or much of anything though.
Also, the evidence of insider trading and market manipulation is pretty convincing to me. I don’t think that was the original intention, but Trump, or those around him saw the opportunity and took it.