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It’s a well-documented incontrovertible fact that Donald Trump has satisfied himself and lots of of his supporters that tariffs are a fantasy fix-it for the financial system. Trump doesn’t perceive that tariffs usually are not paid by international international locations however by American shoppers.
Trump has not been deterred by the truth that his first wave of tariffs is pushing the nation nearer to a recession, and he accelerated his marketing campaign of American financial destruction by saying that he’ll quickly goal pharmaceuticals and drive the value for People up even larger.
Whereas talking within the Oval Workplace, Trump stated:
It is also thrilling due to what’s occurring with different features. We’re gonna be doing tariffs on prescribed drugs with the intention to deliver our pharmaceutical business again. We do not make something right here for, by way of medication, medical medication, various kinds of medication that you just want. Medicines in different international locations, largely made in China.
A whole lot of it made in Eire. Eire was very good. We love Eire. However, we’re gonna have that, we’re gonna have lumber. We’re gonna release a few of our land, and you’ll meet quite a lot of different requirements like hearth cuts. If Los Angeles had hearth cuts, which they did not have, that is a, a spot of half a soccer discipline between areas, you would not have had the fires, they’d’ve been contained.
However you may have hearth cuts. And by the best way, you promote that wooden for some huge cash, quite a lot of, lot of revenue.
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The massive information was that Trump introduced that he’s placing a 25% tariff on all vehicles not made in america, which is nearly each vehicle that’s produced.
