Trump Makes False Claim On Twitter, Calls Himself “Tariff Man” And Subsequently Sends Markets Tumbling

What a colossal fool.

591 points

One might think that after months of tariff policies being used to “punish” foreign countries for what Trump deems to be bad behavior or unfair business practices that the President might have learned what tariffs are by now.

One would be incorrect.

Despite input from economists around the country and the world, Donald Trump continues to assert that somehow he is making other countries — China, primarily — pay billions of dollars in fees to the United States for the privilege of selling their exports to our hungry consumers. Unfortunately, that’s not how it works, like, at all.

When tariffs are imposed on imported goods, it is almost universally the consumers who end up paying the inflated costs of the product — and when I say inflated, I mean actually false, inflated value, because tariffs are always simply retaliatory numbers, arbitrary. It could be a tariff of ten percent or of fifty percent, and both numbers have nothing to do with the value of a product.

The real results of Trump’s tariffs have been felt only in the United States: Lost jobs, closed factories, fields of soybeans left to rot.

True to form, Trump has declared victory over and over in his trade war, most recently on Monday, when he tweeted that China had agreed to lift some tariffs of their own:

Had that been true, it would have justified the skyrocketing investment markets on Monday. Tuesday, as literally anyone who was asked about it struggled to explain what the hell Trump was talking about — there never was any such agreement from China — the markets came crashing back down again.

So has he figured it out yet? Check out his Tuesday tweets and see if he’s got this tariff thing down yet, or if he thinks it still makes him some kind of hero:

I wonder if the title “Tariff Man” comes with a cape.

Featured image via screen capture

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591 points