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Trump can complain all he wants - but he can't stop his own economic mess [View all]
Between his tariffs and his regressive ‘big, beautiful bill’, the president is wreaking havoc – and he never learns
With his usual threats, Donald Trump is trying to ward off the dire reality that he has created and is bearing down on him. He can clamp migrants in foreign gulags, coerce white-shoe law firms into becoming his pro bono serfs and try to simply erase the National Endowment for the Humanities, but he can’t rescind his harm to the economy. Trump can slash the National Weather Service, but he can’t stop the storm he’s whipped up. He’s shouting into the wind at his twister.
No matter how much he might lower his draconian tariffs after his 90-day breathing spell, the velocity of damage is just building. It’s not a mistake that can be rectified. There’s no do-over. It’s not a golf game at one of his clubs where he gets endless mulligans and is declared the champion. Nor does Trump really want to draw back completely from his tariffs as if he never had proudly displayed his “Liberation Day” idiot board.
When the Walmart CEO inevitably announced that prices would have to be raised as a result of Trump’s tariffs, Trump warned: “Between Walmart and China they should, as is said ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!”
Trump has falsely insisted that tariffs are levied on foreign importers. But Walmart demonstrated the indisputable fact that tariffs are price increases passed on to consumers. They are a tax. Trump is furious at the early indication of the renewed inflation and price rises that are coming. His natural response, of course, is an attempt at intimidation.
With his usual threats, Donald Trump is trying to ward off the dire reality that he has created and is bearing down on him. He can clamp migrants in foreign gulags, coerce white-shoe law firms into becoming his pro bono serfs and try to simply erase the National Endowment for the Humanities, but he can’t rescind his harm to the economy. Trump can slash the National Weather Service, but he can’t stop the storm he’s whipped up. He’s shouting into the wind at his twister.
No matter how much he might lower his draconian tariffs after his 90-day breathing spell, the velocity of damage is just building. It’s not a mistake that can be rectified. There’s no do-over. It’s not a golf game at one of his clubs where he gets endless mulligans and is declared the champion. Nor does Trump really want to draw back completely from his tariffs as if he never had proudly displayed his “Liberation Day” idiot board.
When the Walmart CEO inevitably announced that prices would have to be raised as a result of Trump’s tariffs, Trump warned: “Between Walmart and China they should, as is said ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!”
Trump has falsely insisted that tariffs are levied on foreign importers. But Walmart demonstrated the indisputable fact that tariffs are price increases passed on to consumers. They are a tax. Trump is furious at the early indication of the renewed inflation and price rises that are coming. His natural response, of course, is an attempt at intimidation.
https://www.theguardian.com/commentisfree/2025/may/20/trump-economy-sidney-blumenthal
2 replies
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