THE TRAINWRECK OF TRUMP’S TARIFF’S ARE NOW SHOWING UP
From January 2024 to April 2024 America added 611,000 jobs. Starting in April the jobs numbers fell off a cliff. But even worse is GDP which is now forecasted by economist surveyed by Bloomberg News to drop from 2.8% in 2024 to 1.5% this year. The actual impact of Trump’s Tariff plan can be seen perfectly in the auto manufacturing business. America’s car makers are being slammed with 25% tariffs on parts and 50% tariffs on aluminum and steel. Yet Japan can build a car in Japan and import it to America and pay only a 15% tariff on the entire car. This is putting American car makers at a massive price disadvantage. All across our manufacturing base when you speak with people who actually run these businesses they say the same thing – this will not increase American manufacturing at all – and it will lead only to more offshoring to nations like Japan where you pay a smaller tariff than if you built your product in America.
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