Tag: Trump’s tariffs

CEOs Agree: Trump Is Bad for Their Business

Buck Banks

“In private, the leaders of some of the country’s best-known companies say that a number of White House policies have been bad for their businesses — and possibly illegal, per the results of a survey from Yale School of Management,” Axios reports.

Some results:

  • 71% of the CEOs said tariffs were harmful to their businesses.
  • 74% said that the courts were correct to find that the Trump’s tariffs are illegal as executed.
  • 80% said that the president was not acting in the country’s best interest by pressuring Fed chair Jerome Powell to cut interest rates.
  • 76% said that Health Secretary Robert Kennedy Jr. is putting U.S. public health at risk.

Trump’s Tariffs Pulling in Billions

Buck Banks

$27.7 billion

data from the Treasury Department released Tuesday afternoon confirmed that July marked another record month on the revenue front, with some $27.7 billion in customs duties coming into US coffers, reports Yahoo Finance. This was another step up from June’s total of $26.6 billion and May’s total of $22.2 billion. It represents a significant jump from around $8 billion in customs duties one year ago and brings the total for the fiscal year to around $135.7 billion.

There Are Signs of a Global Economic Slowdown Created by Trump’s Trade Policies

Buck Banks

2.9%

OECD warned of a global economic slowdown. In its latest forecast, the Organisation for Economic Co-operation and Development revised the global GDP growth rate for this year down from 3.1% in previous estimates to 2.9% as a result of the effects of the Trump administration’s trade policies. The organization also cut the US’ growth outlook from 2.2% as of March to 1.6%.

Rand Paul’s Simple Tariff Explanation

Buck Banks

“Well, tariffs are taxes, and when you put a tax on a business, it’s always passed through as a cost. So, there will be higher prices. The only trade that means anything is the individual who buys something. That’s the only real trade. And that by very definition, if it’s voluntary, is mutually beneficial, or the trade doesn’t occur.”

— Sen. Rand Paul (R-KY), quoted by Politico.

Trump Has ‘No Deal,’ Not ‘New Deal’

Buck Banks

“Everyone says ‘When, when, when are you going to sign deals?’ We don’t have to sign deals. We could sign 25 deals right now if we wanted to. We don’t have to sign deals. They have to sign deals with us. They want our market. We don’t want a piece of their market. We don’t care about their market.”

— President Trump, quoted by the New York Times, on trade deals his administration is supposedly negotiating.