by Pa Rock
Citizen Journalist
American stock markets were on a roll yesterday - downhill. Investors, it seems, are getting antsy about Donald Trump's economic war with China. As Trump's fiction about China paying the tariffs that his administration has placed on Chinese imports begins to be exposed for the lie it is, more and more Americans are coming to realize that they are the ones who will be paying those new taxes.
And it is places like Walmart, not only America's largest business but also our country's chief importer of foreign goods, where those new taxes will be felt - in the form of rising prices.
Attention Walmart Shoppers: Donald Trump has his hand in your pocket!
But Trump's tariffs are affecting more than just the Chinese junk that crowds the shelves at Walmart. His ill-advised foreign policy of petulance and pomposity has also had an effect on the buying habits of China. One of the first ways that China retaliated was to drastically cut its purchases of certain U.S. agricultural products, and soybeans in particular. The soybean boycott had such a drastic impact of the fortunes of farmers in America's heartland that the Trump administration quickly went to Congress and asked for financial relief for the soybean growers. Now, he's back for a second helping and asking for even more money to relieve the suffering of America's farmers - suffering that was caused by his rash actions.
Farmers have spent decades building up trade relationships with China, and now many of those relationships have been undermined and destroyed. Many of those affected see government subsidies as a bandaid, something that will help in the short term, but will do little to get the old trade relationships back on track. China is locating other suppliers of soybeans, and American growers suddenly find themselves in the awkward position of holding their hands out for government welfare payments.
Trump stormed into a trade war with China, but the first victims were Walmart shoppers and American farmers - significant segments of his base. He may harbor a grand fantasy of being a fearsome generalissimo, but in reality Donald Trump is little more than a bumbler who thinks he is far more intelligent than he actually is.
Donald Trump may not know that he is in over his head, but the people who shop at Walmart are about to find out how incompetent he actually is.
Citizen Journalist
American stock markets were on a roll yesterday - downhill. Investors, it seems, are getting antsy about Donald Trump's economic war with China. As Trump's fiction about China paying the tariffs that his administration has placed on Chinese imports begins to be exposed for the lie it is, more and more Americans are coming to realize that they are the ones who will be paying those new taxes.
And it is places like Walmart, not only America's largest business but also our country's chief importer of foreign goods, where those new taxes will be felt - in the form of rising prices.
Attention Walmart Shoppers: Donald Trump has his hand in your pocket!
But Trump's tariffs are affecting more than just the Chinese junk that crowds the shelves at Walmart. His ill-advised foreign policy of petulance and pomposity has also had an effect on the buying habits of China. One of the first ways that China retaliated was to drastically cut its purchases of certain U.S. agricultural products, and soybeans in particular. The soybean boycott had such a drastic impact of the fortunes of farmers in America's heartland that the Trump administration quickly went to Congress and asked for financial relief for the soybean growers. Now, he's back for a second helping and asking for even more money to relieve the suffering of America's farmers - suffering that was caused by his rash actions.
Farmers have spent decades building up trade relationships with China, and now many of those relationships have been undermined and destroyed. Many of those affected see government subsidies as a bandaid, something that will help in the short term, but will do little to get the old trade relationships back on track. China is locating other suppliers of soybeans, and American growers suddenly find themselves in the awkward position of holding their hands out for government welfare payments.
Trump stormed into a trade war with China, but the first victims were Walmart shoppers and American farmers - significant segments of his base. He may harbor a grand fantasy of being a fearsome generalissimo, but in reality Donald Trump is little more than a bumbler who thinks he is far more intelligent than he actually is.
Donald Trump may not know that he is in over his head, but the people who shop at Walmart are about to find out how incompetent he actually is.
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