Donald Trump’s economy had a terrible, horrible, no good, very bad week. Car manufacturers are raising prices to offset the costs of Trump’s tariff taxes. But for the ultra-wealthy driving a Rolls-Royce, Bentley or Jaguar? Not to worry: Trump made sure to give super luxury cars a tariff carveout in his “trade deal” with the UK. American ports, already reeling from post-tariff cargo ships arriving only half full, are now emptying out. Trump’s reaction? “That’s a good thing, not a bad thing.” And with Mother’s Day just around the corner, most Americans are set to spend less on their moms due to ongoing inflation.
Americans Will Get Less And Spend More This Mother’s Day Thanks To Donald Trump’s Economic Policies
- Mother’s Day spending is set to drop by 14 percent in 2025, due to ongoing economic challenges.
- Among gift buyers, 56% are spending less due to inflation and the economy, with 38% less due to tariffs.
- Consumers are having a hard time finding and affording gifts like fresh flowers thanks to Trump’s tariffs on the 80% of cut flowers that the US imports each year.
Car Prices Set To Soar As Manufacturers Reel From Trump’s Trade War
- Ford announced this week that it will raise prices for the US models it assembles in Mexico by up to $2,000 each.
- Toyota projected that its operating profit will decline by about one-fifth and predicted a $1.3 billion hit from Trump’s tariffs in April and May alone.
- Toyota has over a dozen manufacturing facilities in the United States and employs tens of thousands of Americans.
- GM cut its profit outlook for the year by as much as $5 billion.
Trump’s Concepts Of A Plan For A UK Trade Deal Gives Special Carveouts For Posh Cars For The Super Rich And Does Virtually Nothing To Lower Prices Or Boost American Businesses
- According to CNN, the agreement with the UK is “limited in scope, heavy on future commitments and leave in place the existing 10% universal tariffs Trump placed on virtually all goods coming into the United States during his ‘Liberation Day’ announcement on April 2.”
- American economist Justin Wolfers called the deal a “photo op with little macroeconomic significance.”
- UK-based economist Jonathan Portes called it “pretty much a complete climbdown” for Trump that demonstrates “Trump’s economic/political weakness on tariffs overall.”
The Big Three Are Furious That Trump Boosted “Super Luxury” British Car Brands Like Rolls-Royce And Bentley While Devastating American Automakers, Suppliers And Autoworkers.
- Trump made a special exception for the UK by lowering tariffs on high-end cars like Rolls-Royce, Bentley and Jaguar.
- The Big Three blasted the trade deal, saying it would harm the US auto sector including suppliers and workers.
West Coast Ports Stand Empty Threatening The Livelihood Of Thousands Of Truckers And Dockworkers – And Trump Says That’s A “Good Thing.”
- Trump’s tariffs are causing dramatic slowdowns at vital U.S. shipping hubs.
- These slowdowns are hitting dockworkers, transportation, and warehousing employment.
- Trump said yesterday this is “good thing” and that a cessation in trade means we “lose less money.”
Americans’ Are Bracing For Higher Inflation And Diminished Job Prospects, But Trump Says Price Increases Are “Peanuts” And Fed Chair Jerome Powell Is A “FOOL.”
- Americans’ expectations for inflation in the medium-term climbed to an almost three-year high in April.
- Fed Chair Powell warned that Trump’s tariffs are “likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment.”
- Trump dismissed the Fed Chair as a “FOOL who doesn’t have a clue” and said the price increases that are making life harder for Americans are “peanuts.”
As The Baby Industry Is Rocked By Price Hikes And Shortages, Trump’s Administration Says Your Kids Don’t Need So Many Dolls Anyway
- Trump’s tariffs are hitting parents, driving up prices and threatening shortages of critical baby gear.
- Trump has dismissed growing concern about the rising cost of vital goods by saying that kids don’t need so many dolls or pencils.