‘People Will Become Destitute’: Trump’s Tariffs Are Already Backfiring
Francesca and Wajahat react to Trump’s “Liberation Day” tariffs backfiring. Plus, finance journalist James Surowiecki breaks down how the tariffs will ultimately take a toll on everyday Americans.
It’s day 74 of Trump 2.0, and he’s sent the US stock market spiraling, with the biggest single-day wipeout in value since 2020.
On the latest episode of ‘America Unhinged’ on YouTube, Francesca Fiorentini and Wajahat Ali react to Trump’s so-called “Liberation Day,” where he announced 10% tariffs across the board.
“It’s funny that these capitalists talk about incentives constantly, but when it comes to actually building up national industry, they need incentives to do that. You can’t just build a manufacturing plant with the snap of a finger, click of a pen. This has to be a concerted effort,” Francesca says.
She adds, “When you have 40 years of global, neoliberal economics and you’re trying to put the cat back in the bag in one fell swoop, people will become destitute.”
Financial journalist James Surowiecki joins the show to discuss how these tariffs will ultimately fall on working-class Americans. “The vast majority of us will be worse off,” he warns.
He continues, “It’s not that complicated: Tariffs are a tax. Some of that tax will be eaten by the foreign producer… some of it will be eaten by the importer. But a big chunk of it will be paid by American consumers.”
Watch the episode above to hear the full discussion, including how Elon Musk’s days at DOGE may be numbered.
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It’s not backfiring if that is the plan.
To me it is obvious that Trump wants to make us like Russia and linked to Russia. No tariffs on Russia, Putin’s investor meeting in the White House, firing of National Security leaders who deal with cybersecurity and others, cybersecurity defense against Russia was stopped a few weeks ago.
Predictions: Russia. Sanctions lifted so we American companies will turn to Russia for business.
The Maryland man arrested and sent to El Salvador will not make it back home where he will meet the media.
Let’s stop assuming they are making mistakes and instead assume this is what they want.
People desperate for their social security checks. No Medicaid and no heath-care research so there will be deaths at an earlier age, destroying universities and education.
We know where this will lead and so do they. It’s all intentional.
And we have a National Security team that is incompetent.
This is looking more and more like 1930s Germany where we end up in a world war we lose.
All this because of White-Racism and Minority Stupidity. [both of which put him in charge of everything, everywhere, all at once]