In yet another erratic pivot, Donald Trump hit the brakes on his cataclysmic tariffs, in a move that raised eyebrows as his billionaire buddies cashed in when the prices were low.
But whilst many of the world’s poor people were fearing the catastrophic impact this might have on their finances and businesses, Trump instead took to his Truth Social platform to tell his followers to:
BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before.
This was all despite global markets tanking.
Trump tariffs: a ‘GREAT TIME TO BUY’ for billionaire capitalists
As the markets opened at the New York Stock Exchange, Trump practically hailed a golden era of corruption as he told his followers:
THIS IS A GREAT TIME TO BUY!!! DJT.
Laughing and ridiculing the American public, a video hours later emerged of Trump talking to his wealthy pals, as he pointed to them and said:
He made $2.5 billion today and he made $900 million. That’s not bad.
Not even hiding the fact that this was never about tariffs but simply market manipulation, the oligarchy was yesterday in full view of the public, as its ugly head emerged from the shadows.
Just four hours later, the president changed his mind, he paused and lowered tariffs on goods from most nations for 90 days.
Suddenly, stocks and shares were soaring, and social media erupted into a frenzy, as journalists and members of the public questioned Trump’s “pump and dump” scheme.
Republican US representative for Georgia, and close Trump ally Marjorie Taylor Greene, had disclosed to her fans that she had made several purchases in stocks and shares on 3 and 4 April. These were two days that the markets were at a critically low point, due to Trump setting out his reciprocal tariff plan on 2 April. Conveniently shares in Amazon and Apple rose by 12% and 15% on 9 April, allowing Greene to cash in.
The S&P 500 blue chip index had closed by more than 9% whilst stocks rose in Asia and Europe, with the FTSE 100 index rising by 4%.
Insider trading: anything goes in Trump’s America
In any other democracy, this would be classed as a criminal offence, or named “insider trading”, but for Donald Trump, who is treated like God incarnate, this appears completely acceptable.
Democratic Senator, Adam Schiff, has called for an investigation into the alleged insider trading, as he raised grave concerns over people buying up the stocks when the prices were low before they rose again.
Economically, diplomatically, and politically illiterate, Trump’s on-and-off-like-a-tap tariffs, create an environment where corruption is able to breed in the petri dish swamp that is the White House.
Yet again shedding a light upon Trump’s parasitic administration Schiff stated, “these constant gyrations in policy provide dangerous opportunities for insider trading”.
“Who in the administration knew about Trump’s latest tariff flip flop ahead of time? Did anyone buy or sell stocks and profit at the public’s expense?”.
This was followed by democrat Steven Horsford’s remarks as he expressed his frustration at the Trump regime “WTF! WHO’s in charge”. “The empathy I have is for the American people, whose wellbeing and livelihoods are being affected. This is not a game. This is real life”.
UK feeling the effects
With the UK economy already in a grave state of health due to chancellor Rachel Reeve’s disastrous budget and callous cuts to benefits, one thing is clear, the poorest people in our society will bear the brunt of yet more economic instability whilst the rich take advantage of market turmoil.
The Bank of England (BoE) has warned that higher government bond yields would “reduce their capacity to respond to future shocks”.
British economic growth is therefore likely to be severely impacted by these on and off tariffs, as the trade war continues to haunt countries across the globe.
Furthermore, the BoE’s Financial Policy Committee (FPC) said that the shift in geopolitical relations from both an economic standpoint, and the vast rifts between traditional allies, has reduced the likelihood of trading partners wishing to co-operate.
Hence:
the probability of adverse events and the potential severity of the impact have also risen.
It is therefore clear that Keir Starmer and Reeves must wake up and smell the coffee; the US is no longer an ally but rather a country that wishes to inflict peril and confusion, whenever it is given the opportunity.
Trump: world leaders lining up to kiss ‘my a** to negotiate’
At the National Republican Congressional Committee dinner in Washington, Trump appeared to be gushing over the leverage that he holds over the rest of the globe.
Gleefully mocking the weakness of world leaders, who appear to be submissively bowing down to Trump in the hope that he might be merciful, he said:
They are calling us up, kissing my a** to negotiate…Please, Sir, make a deal. I’ll do anything. I’ll do anything Sir.
Despite this, world leaders will continue to attempt to appease Trump, but they must be reminded what happened when a certain dictator was appeased back in the 1930s; he soon became a genocidal war criminal.
Import prices will inevitably rise, and domestic products will simply inflate in price, and even the rich billionaire tech bros are beginning to have serious doubts about Trump’s policies.
This of course includes Elon Musk, the former big pal and bestie of Trump, who had until recently enjoyed tampering with the government’s finances.
But as his Tesla sales plummeted, and the tariffs came into fruition, the tech bro saw his finances plummet by billions and it was announced that he would depart from DOGE in early May.
He has recently had a very public spat with Peter Navarro, a member of Trump’s cabinet who is dubbed in political circles as the “architect“ of Trump’s catastrophic tariffs. Navarro called Musk a “car assembler” as he criticised his Tesla company with Musk then responding to this by calling him, “dumber than a sack of bricks”.
Trump ‘abusive’ tariffs on China
Aside from the rift between Trump and some members of his possie, tensions have also deepened with China.
Despite pausing the tariffs for 90 days for other countries, he has kept them for China, as he set the rate to 125% earlier on Wednesday, accusing them of showing a “lack of respect”.
This therefore means that every single country with existing tariffs, will receive the lowered rate of 10% except for China.
In response, China’s foreign ministry spokesman Lin Jian hit back and said that the US uses bullying practices and that it:
continues to impose tariffs on China in an abusive manner.
The spokesman also said that if America hopes to resolve any of these problems through negotiation, the US must show:
an attitude of equality, mutual respect, and reciprocity
Speaking to journalists in the oval office about his trade war with Xi Jinping, he said he believed that a deal could be struck with China:
we’ll end up making a very good deal.
But whilst he dubbed the Chinese president “one of the smartest people in the world”, he warned the country of their extensive weaponry:
we have weapons that nobody even knows.
Of course, it shows that Trump is clearly enjoying the power struggle between the two world powers.
The ‘art of the deal’ is only for the rich elite
However, despite the reversal of this decision, this is inevitably a time of grave instability. The Bank of England has warned that the:
Major shift in the nature and predictability of global trading arrangements could harm financial stability by depressing growth.
Whilst Karoline Leavitt and MAGA die-hards continue to argue and portray this move as a success for Trump, calling it the “art of the deal”, the deal is only for the elite few who took advantage of the volatility of the stock market as a chance to get even richer.
Meanwhile the poor people of the world are left to suffer under a capitalist system that benefits the few, not the many.
Featured image via the Canary
