There’s an expression most of us are familiar with that goes like this: Better to remain silent and be thought a fool than speak and remove all doubt.
On Tuesday, Donald Trump neglected to heed that warning, taking to social media and giving himself a new nickname.
“The USA markets just hit another ALL TIME HIGH — ALL OF THEM!!! THANK YOU YOU MISTER TARIFF!!!”
The post was later amplified by the official White House Twitter/X account:
Mr. Tariff? Really?!
First of all, the tariffs are a drag on the U.S. and world economies, as J.P. Morgan noted last month as part of its Global Research.
“Since taking office, President Trump has enacted a growing list of tariffs on specific countries and commodities — a move aimed at protecting American interests. While the rollout was initially marred by delays and reversals, the latest announcements have ignited an international response, increasing market volatility and creating material headwinds that J.P. Morgan Global Research believes will weigh on growth.”
Indeed, the tariffs have weighed on growth, creating an economy in the United States that is failing to produce job gains, stagnating global trade markets, and raising prices on everything from clothing and food to health care and insurance.
Tariffs are one of the main factors that led to the 1929 stock market crash and Great Depression.
It didn’t take long before “Mr. Tariff” was subjected to massive online humiliation. Take a look:
