The continuous decisions made by President Donald Trump never cease to disappoint. Since he passed new tariffs, the damage went straight to the stock market. He intended to take the U.S. trade deficit with a country and divide it by its exports to the U.S. with the “reciprocal rate,” which is then calculated by dividing that figure by two. He made this “beneficial” decision on April 2.
Since then, Trump has done so to all trading countries, such as Afghanistan which has had its tariffs for the U.S. at 49%, in return, with the new tariff system the U.S. had raised for the tariffs to now tax them 10%. Each percentage varies for the countries the U.S. trades with, but one common occurrence is the anger over the tariff increase. No one is happy to discover they will be getting charged more, especially from a country with a higher currency, a lower poverty rate and fewer economic issues.
Now, every poor choice made on a whim by Trump has consequences for those directly impacted in the U.S and on the various trading countries on the outside. Since this decision, the stock market has faced the biggest drop since COVID-19 due to China’s decision to match Trump’s tariffs. Industries that sell goods to China — such as those in aerospace, agriculture and heavy equipment — were hit hard
On Thursday of the same week, companies like banks, airlines and technology sank heavily. The drop in the market and for big companies worsened on Friday. It led to the stocks, referred to as the Magnificent 7 stocks that have been the dominating ones for the past years in the market, having the heaviest losses. Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla have lost $1.8 trillion in market value on Thursday, April 3 and Friday, April 4 combined.
Not to mention that the S&P 500 lost 6% after China played hardball with Trump, increasing the risk of a potential trade war that could end in a recession. It is no surprise that with all the damage occurring, Trump would still repost a video on Truth Social about him “purposefully” crashing it. With no real thought, he posted it as a “joke” to tease at the fact of his true intent, but it isn’t really funny when the President is hurting the citizens the most.
English
Spanish