General Question

Pandora's avatar

Do you think Trump reversed on Tariffs for now because he was losing money in the stock market today?

Asked by Pandora (32622points) 1 month ago

Today, Trumps meme coin took a 14 percent plunge and so did a lot of bit coins because investors are nervous about Trump taking the world into a trade war that will increase prices everywhere.

So, the man who asked Americans to tighten their belts doesn’t want to feel any of the hurt. At least, that is my opinion. There was anticipation that the EU was going to be next if Trump got away with the tariffs. He seemed to forget one thing. Investors are quick to tighten their belts and pull money from risky ventures that may be affected by a global trade war.

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46 Answers

SQUEEKY2's avatar

If he thought he was getting hurt then probably.

Dutchess_III's avatar

Or The Strings rolled it as it will benefit him in some way. Someone else is handling his investments, right? Cuz he doesn’t have the brains to understand it for himself. So someone would have to ‘splain to him….and they could roll it like it’s a good thing.
The Strings are who scare me.

YARNLADY's avatar

That is the way I suspect it happened.

Dutchess_III's avatar

Who you talking to @YARNLADY?

JLeslie's avatar

Maybe. He might have told his friends to buy up stocks while low and then changed policy. I absolutely believe he uses his position to influence the stock market.

I told my husband three weeks ago we should listen to Trump just to buy stocks. My husband is currently ignoring Trump as much as possible.

I don’t “play” the stock market much, but I’m sure that was happening during covid. When the stock market plunged and then Trump would say the names of the companies making progress during the beginning of covid. I saw the pattern, I wish I had done more with it, I’d have more money in my pocket.

seawulf575's avatar

Nope. I think he put a hold on the tariffs because the leaders of Mexico and Canada finally agreed to help stop the flood of illegal immigrants and drugs into our country. And he only put a pause on them to ensure these leaders (a) actually do what they say they will do and (b) are engaged in setting up a trade agreement going forward.

Forever_Free's avatar

No. He did it for his own egomaniac mind. That way he can say he did something. Similar to his saying he provided water to help the fires in California.
There continues to be no correlation to anything he does and says.

KNOWITALL's avatar

Well the 3pm Monday call with Canada is the most likely cause.

Irukandji's avatar

Of course not! Presidents put all of their assets into a blind trust and put all personal interest out of mind the moment they assume office! ~

But for real, I doubt this is the reason. Trump’s “governing” style is to create a crisis, solve that crisis, then take credit for the solution while ignoring the fact that he was also the cause. Then he tells his faithful that the crisis got us something. In this case, it’s 10,000 troops at the border. Never mind the fact that he used to claim that his 2019 trade deal got us 28,000 troops on the border (“free of charge!”), which would mean this negotiation lost us 18,000 border troops (unless he was lying before).

Lightlyseared's avatar

@seawulf575 That is what he’s saying. The president of Mexico is saying something slightly different. Also why would they be engaged in negotiating a trade agreement with US? The US has repeatedly demonstrated that it is untrustworthy when it comes to these things.

seawulf575's avatar

@Lightlyseared Yeah, I’m sure the Mexican President framed things differently. But in the end, go back and look at the facts. Trump asked both Mexico and Canada to help with stopping the illegal crossings of people and drugs into our country. Both blew him off. So he announced he would implement tariffs. They both postured saying that they would counter with their own tariffs against the USA. Meanwhile both their monetary units tanked. Suddenly they are talking to Trump and shortly after the conversations, voila! they are falling all over themselves to put measures in place to help secure the borders in a serious way. And immediately Trump says he is suspending the tariffs on each country.

I dunno, but it seems pretty obvious how things played out. Nothing I just laid out was he said/she said stuff. It was a timeline of events. You can choose to believe Trump is lying about everything…that is your prerogative. But when what he is saying matches the facts, you suddenly have a hard time coming up with any other explanation. Besides, if it didn’t go down that way, then why would Trump pause the tariffs? If he was suddenly really scared and just wanted to walk them back, the other countries wouldn’t have done a 180 on their stances and he would have just pulled the tariffs, not suspended them. That is the alternative you would have us believe.

jca2's avatar

I just heard that Canada appointed a Fentanyl Czar to handle this in Canada.

Canada is now imposing more tariffs against the US. 15% on certain things like pickup trucks (I didn’t know they made pickup trucks that we bought) and auto parts, and other stuff.

jonsblond's avatar

Canada and Mexico did not cave. They only implemented plans already in place. (lol):

Whether GOP leaders and their megadonors understand this or not, Mexico really just offered Trump more of the same. Indeed, as The New Republic noted, Mexico sent 15,000 troops to the border in 2019, and sent 10,000 again in 2021. Or put another way, Sheinbaum agreed to do what her country has already done in recent years. (Note, when our southern neighbors agreed to do this during Joe Biden’s presidency, it was the result of effective diplomacy, not threats.)

Hours later, the Republican president announced that he was also delaying his plan related to Canada, following a phone meeting in which Canadian Prime Minister Justin Trudeau, as Trump put it, agreed to “implement their $1.3 Billion Border plan.”

Trump folds under pressure, pauses tariffs on Mexico and Canada
The wording was of interest. Trump didn’t say Canada announced a plan, and he didn’t say Canada has come up with a new plan. Rather, he said Canada will implement their plan.

If the phrasing made it sound as if there was already a plan in place before Trump started threatening our neighbor and ally, that’s because the plan that Canada is implementing was announced during the Biden administration.

Source: https://www.msnbc.com/rachel-maddow-show/maddowblog/trump-folds-pressure-pauses-tariffs-mexico-canada-rcna190572

jca2's avatar

@jonsblond Not that I’m defending Trump but when you read the article linked in the article that you linked (the article within the article), the plan that was already implemented in Canada was announced around December 17th, after Trump was already elected and threatening tariffs against Canada and Mexico. I clicked on the article within your article and this was where the plan was announced:
https://www.cpac.ca/headline-politics/episode/federal-govt-unveils-canadas-border-security-plan--december-17-2024?id=02d7a8e4-4dd4-422e-a037-fcfb41734a61

Forever_Free's avatar

The facts that most people forget is that he got the same result that Biden did in 2021 by using diplomacy with worse result than he himself got in 2019 by using diplomacy.

Funny how he thinks he is doing things nobody else did. They will however never reference this or spin it differently.

2021— Mexico, Honduras, Guatemala deploy troops to lower migration

seawulf575's avatar

@jonsblond When you are citing Rachel Maddow and MSNBC, you are using questionable sources. Their ratings are tanking because of their lies and spin.

jonsblond's avatar

^it was the first link I found. There are plenty more for you to find the facts. I’m not going to spend my day on this subject.

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Blackwater_Park's avatar

No. This is Trump’s negotiation style. Suggest something outrageous then fall back to more reasonable discussions one the talk starts. It’s an attention getting tactic. It makes the opponent feel like they’re getting something.

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jca2's avatar

@jonsblond I’m not disputing what you wrote, just that when you read into it (by reading the article linked in Maddow’s article), you see that it’s not that Canada was implementing the border action during Biden’s term, which they did, no doubt, that’s accurate, it’s that they started this implementation after Trump was elected (December 17th), and after he talked about tariffs against Canada.

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Demosthenes's avatar

It’s pretty typical Trump to do the thing that goes too far, then walk it back and frame it as deal-making. It’s the “Muslim ban” all over again.

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SQUEEKY2's avatar

are engaged in setting up a trade agreement going forward.<Really what the hell did he agree to on his last term, when he ripped up the free trade agreement and write a new one that he signed off on , NOW he says the states are getting screwed?
To ole Felon 47 if he isn’t screwing the other guy ,the other guy must be screwing him.

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