Trump's economic trainwreck: foreign leaders get it, even as Trump remains clueless
6 March 2025
I am posting excerpts from another great essay by Jennifer Rubin, with my comments at the end:
After two days of watching the markets tank, President in Name Only Donald Trump’s lackeys began to talk about a “compromise” on his wrongheaded, disastrous rollout of steep across-the-board tariffs on goods from Mexico, Canada, and China. This is a common Trump stunt: Make a boneheaded move, watch the fierce blowback, make a meaningless deal, and declare victory.
In this case, the “compromise” appears to include a one-month reprieve from tariffs for automakers. However, after the one-month pause, those tariffs apparently will go into effect. No such relief was offered for other goods.
Whatever wiggle room Trump provides, the damage is done. Markets, businesses, and consumers are rattled. (Even Trump acknowledged during his congressional rant that tariffs would require a “little adjustment.” I trust that may be code for “inflation plus job losses.”) In sum, Trump’s economic imbecility and on-again-off-again tariff scheme risks job losses and higher inflation. And he may have irreparably harmed relations with our closest neighbors. [bold added by me]
. . .
In fact, the Wall Street Journal’s editorial board citing the tariffs the “dumbest in history” may have been an understatement. The board went on: “Mr. Trump is whacking friends, not adversaries. His taxes will hit every cross-border transaction, and the North American vehicle market is so interconnected that some cars cross a border as many as eight times as they’re assembled.”
. . .
Ford also made clear how utterly isolated Trump is on the issue. “I’ve talked to Senators and Congresspeople and governors, Republicans and Democrats, not one of them agree with him,” he said. He added, “President Trump ran on a mandate to lower costs, to create more jobs. This is going to do exactly the opposite.”
. . .
In private, and increasingly in public, Republicans confess that the tariffs are disastrous, but they shy away from blaming or offending Trump. Some Republicans will whisper off the record that they are afraid for their physical safety. Which is all the more reason to expose publicly the bully and his fascist shock troops. If these craven politicians are simply worried about losing their seats, they might consider that if we hit a recession they will get trounced in 2026. Either way, politicians who cannot muster the courage to represent their constituents’ needs and uphold their own oaths should find another line of work.
More here.
Instead of just complaining, we need to take action to limit Trump’s power, which falls into political and economic activities.
Political activities to do:
I support Michigan Senator Elissa Slotkin’s suggestions regarding political activities:
First, don’t tune out. It’s easy to be exhausted, but America needs you now more than ever. If previous generations had not fought for democracy, where would we be today?
Second, hold your elected officials, including me, accountable. Watch how they’re voting. Go to town halls and demand they take action. That’s as American as apple pie.
Three, organize. Pick just one issue you’re passionate about — and engage. And doom scrolling doesn’t count. Join a group that cares about your issue, and act. And if you can’t find one, start one.
Some of the most important movements in our history have come from the bottom up.
Consider attending Senator Bernie Sanders’s rally this Saturday, 8 March 2025 in Warren, Michigan, “Fighting Oligarchy: Where We Go From Here".
Visit mobilize.us for more activities.
Economic activities to do:
Here are some of my past posts about what we can do to promote the small businesses that will make our democracy stronger. I will produce an updated essay soon:
Today is economic boycott day, 28 February 2025
Make America great again by resisting the greedy, 26 February 2025
Why I am ditching X and Tesla, 29 January 2025
We should change what we buy and watch and increase our political activity, 16 December 2024
The index to my prior essays (mostly post 5 November 2024) is here.
I have another blog on Cancer and Medicine.
You can also follow me at https://www.linkedin.com/in/nat-pernick-8967765/ (LinkedIn), npernickmich (Threads and Instagram), natpernick.bsky.social (Bluesky) or @nat385440b (Tribel).
Email me at Nat@PathologyOutlines.com.
I also publish Notes at https://substack.com/note. Subscribers will automatically see my notes.