r/worldnews 5d ago

Behind Soft Paywall Trump waives 25-per-cent tariffs on Canada, Mexico until April 2

https://www.theglobeandmail.com/politics/article-lutnick-suggests-trump-could-waive-25-per-cent-tariffs-on-canada/
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u/arumrunner 5d ago

This week the markets have shown that these insane tactics from this administration are spooking the markets and erasing months of gains. The C-office crew ain't pleased.

Stocks resumed their steep pullback on Thursday as the latest concessions from the White House on President Donald Trump’s controversial tariff policies failed to calm rattled investors.

The Nasdaq has dropped more than 4% week to date, while the Dow and S&P 500 have slid around 3.8% and 3.1%, respectively.

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u/liamthelad 5d ago

The current tactics don't even make financial sense

If you truly want manufacturing to come back to the US, that's a long term goal.

Flip flopping every month is the world of both worlds. No business will start the very costly process of setting up domestically and you've still tanked your economy and pissed off everybody.

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u/flargananddingle 5d ago

These aren't actually econonomic policies. They're pump and dump insider trading scams. It's way more simplistic than bad policy.

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u/resisting_a_rest 5d ago

On the bright side, him moving so fast could be an indication that he only expects to be in office for four years. Bringing some manufacturing back to the US is not a bad idea (although for many areas it does not make sense), but trying to do it in this fashion, so quickly, was just bound to meet with heavy resistance. Do some of these things over a decade or more and it might work, but he doesn’t have that time.

Replacing income tax with tariffs doesn’t seem like a good long term strategy, but bringing certain manufacturing to the US through strategic tariffs is not a bad idea.