Economist David Rosenberg on Trump admin: 'These people don't understand what a tariff is'

Bay street veteran and economist David Rosenberg says Trump's latest tariffs will backfire on the U.S. as he predicts the loss on free trade with major partners will only drain U.S. GDP growth.

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[PASCALDAB]

I think one of the biggest misconceptions is that Trump's tariffs only affect big businesses. It's not that simple—these tariffs can trickle down to everyday consumers, impacting the prices of goods we buy regularly. I made the mistake of assuming tariffs were just a "big business problem" until I noticed my grocery bill creeping up.

[mydressmemos]

The rising rates can be attributed to increasing imports and decreasing exports, largely due to the Trump-era tariffs, which triggered retaliatory measures. The Federal Reserve also plays a role in the banking crisis, given its policies of quantitative tightening and higher interest rates. If these conditions persist, something will eventually give. With this in mind, is it really a good time to have savings invested in stocks?

[kevinsix]

They quite literally confused a trade deficit for a tariff. I cannot believe I live in this idiotic timeline.

[waldenharvey]

It’s actually crazy how this trade war mess trickles down into everyday finances. Tariffs might sound like some high-level government issue, but I’ve felt the pinch personally, grocery prices creeping up, my investment portfolio reacting to every headline, and now my company’s talking hiring freeze “just in case.” The uncertainty alone is enough to paralyze any financial planning.

[apophatos]

"Numb to all this insanity."

Yikes. An astute, yet horrifying diagnosis.

[DB-grch]

you hire clowns, you get a clownshow.

[nline_bserver]

"The only thing more dangerous than ignorance is arrogance." This is the sad story of America today...

[davidl]

Can Trump apply the same formula to my credit cards? I have a huge deficit with them every fcking month… just seems unfair, I shouldn’t have to subsidize these multibillion dollar companies!!!

[MTtroutfisher]

American here: Americans won’t want to make t-shirts in a factory for low wages. This is going to fail horribly. Hopefully our Canadian friends realize not all Americans support any of this.

[Jaysfan]

Bankruptcy is the art of the deal. 😮
Dont pay your bills.

[XYZ-vl]

Japanese here. Not only did he incite the storming of the Capitol, but he also tried to bring down the entire American economy—what an incredible president.

[bob-pxj]

the only difference between Donald Trump and Jim Jones is that Trump would charge you for the

[djstubbyh]

The problem with US business is the 10, 000% difference between CEO and employee pay.

[garywheeler]

And strangely enough no tariffs on Russia.

[Pam-bxmm]

Problem is trump thinks he knows more about everything than everyone else on the face of the earth.

[relaxgood]

How do you break the uncertainty when you deal with someone you don’t trust in the first place ?

[kurtwieting]

This guy is a sane, rational, smart person. He knows of what he speaks. And it’s terrifying.

[DDDD-hvub]

These people don't seem to understand... ANYTHING.

Stupidity and arrogance is a dangerous combination.

[SophiaSchmidt-ww]

Trump 2.0's plans have some analysts concerned that they may cause inflation. I want to know if the stock market is actually influenced by the economy. I'm wondering about how to turn the market to my advantage because I continue to witness successful performances.

[realfortin]

I’m gonna disagree that the American deficit will disappear, because although the consumer will consume less in the USA with the boycott America movement, the USA will also export a heck of a lot less.