April 10, 2025
On April 2, Trump, using bogus emergency powers, imposed an insane tariff regime on nearly every country in the world, save for Russia, based on trade imbalances, showing a juvenile understanding of that topic at best.
This caused markets to crash and the economy to head to what might optimistically have been a recession, and perhaps more realistically a depression.
Yesterday the tariffs were paused for 90 days, save for the ones on China, the latter of which has retaliated with a 104% tariff on US goods.
Earlier tariffs imposed on Canada and Mexico, and a 10% tariff imposed on everyone, remain.
This policy is still disastrous, simply less so than the really steep tariffs that Trump had claimed were permanent, and then which turned out to perhaps not be after foreign holders began to dump US bonds.
And so here we are.
Congress has the power to end this madness as it has delegated these completely bogus emergency powers to the Red Caesar, but it won't as the national GOP is now some sort of strange Peronist/Authoritarian party dedicated to extremism. The roller coaster ride isn't over, it's just on some lower bends. The whims and beliefs of one man now hold the global economy in peril.
Highly relevant to Wyoming:
Despite the strong relief rally on Wednesday, following President Trump’s 90-day pause of tariff hikes on most countries except China, the U.S. benchmark oil price is now lower than the breakeven for the shale industry to profitably drill a new well.
OilPrice.com
Cont:
Speaker of the House Johnson had to pull the budget bill from consideration due to right wing concerns over the deficit, which are rightly placed. Apparently as of this morning he has enough votes to advance the bill.
Cont:
After massively rallying late yesterday, stocks are once again dropping this morning.
Cont:
The Dow closed 1,000 points down.
Oil fell to $60.23/bbl. after having gone up a little during the day at first.
The decline is starting to set in, which not only makes it a bear market, but which shows that long term prospects for the economy are fading.
April 11, 2025
China raised its tariffs on US goods to 125%.
April 13, 2025
The Trump administration is now excluding certain electronics like smartphones and laptops from reciprocal tariffs.
April 14, 2025
The weekend shows made it clear that the reprieve on electronics tariffs is temporary, and more directed ones will be coming.
Regarding the weekend shows:
A Disturbing Trifecta
On a US industry that may in fact feel quick relief in their sector from the tariffs, a headline from the Tribune:
GULF SHRIMPERS CHEER ON TRUMP’S TARIFFS SEAFOOD INDUSTRY
Cheap imports cause US industry to lose 50% of market value
April 17, 2025
Wyoming hospital districts face ‘painful’ funding drop with property tax cut: The state’s 15 hospital districts are among hundreds of entities that will see tax revenue declines. It’s a blow to an already fragile sector, health care representatives say.
It’s Not Known If The 6-10 UW Students Who Had Visas Revoked Are Still On Campus
Related threads:
The Cost Meter. A Trade War Index.
Labels: 2020s, 2025, Clothing, Coal, Coffee, Petroleum, Taxes, The Madness of King Donald, The Tariff Recession, Trump Trade WarsLast edition:
