Trump says his trade war is keeping the stock market down 10,000 points

Trump says his trade war is keeping the stock market down 10,000 points
President Donald J. Trump talks to members of the press on the South Lawn of the White House Friday, Aug. 30, 2019, prior to boarding Marine One to begin his trip to Camp David near Thurmont, Md. (Official White House Photo by Joyce N. Boghosian)

Donald Trump told reporters Wednesday that the Dow stock index would be "10,000 points higher" if he hadn't begun a trade war with China. He must be toying with some new election slogans. How about: But for me, the economy would be amazing! That's catchy, eh?

Truth be told, Trump has effectively been on a mission to kill the killer economy he inherited from President Obama. CNBC reported Tuesday that Trump's top advisers marshaled a team of CEOs to talk ragey Trump out of doubling the tariffs against China after he learned last week that China had escalated the trade war, placing tariffs on another $75 billion in U.S. products. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer rallied multiple CEOs to call Trump and convince him that doubling the duties on China would be an absolute disaster for the U.S. economy. Instead, Trump decided to only hike the rates 5% on some $550 billion in Chinese goods, a considerably smaller escalation than slapping a 200% increase in tariffs on Chinese goods.

That brings me to another potential slogan. No matter how bad the economy gets, Trump can always claim that he could have inflicted more damage.

Trump: Could have been better, could have been worse!

Now there's a winner.

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ }}
@2022 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by