Tag: trump tariffs
Former President Donald Trump

Global Approval Of US Plummets As Trump Imposes Tariffs, Attacks Allies

Since the start of President Donald Trump’s second term, approval of the United States has fallen by double-digit percentage points in multiple countries, according to a Pew Research Center poll released on Wednesday.

The drop in global support follows Trump’s decision to insult multiple nations by imposing tariffs on allies—and even threatening military action.

In total, support for the United States fell in 19 of the 24 countries that Pew surveyed.

“Majorities in most countries also express little or no confidence in Trump’s ability to handle specific issues, including immigration, the Russia-Ukraine war, U.S.-China relations, global economic problems, conflicts between Israel and its neighbors, and climate change,” the Pew report summarized.

Most respondents characterized Trump as arrogant and dangerous, and very few of the people surveyed regarded the only convicted felon to serve as president as honest.

Support for the United States significantly declines from Pew’s 2024 poll, when President Joe Biden was in office. Notable declines occurred among the closest U.S. allies, including a 32 percent decrease in Mexico, 20 percent in Canada, 10 percent in France, 15 percent in Japan, and 16 percent in Germany.

Only three nations view the United States more favorably than they did in 2024: Israel, Nigeria, and Turkey. Though support increased by just seven percent or less.

This loss of global support comes after Trump decided to unilaterally impose tariffs on a host of nations, increasing the costs for businesses worldwide.

On Tuesday, the World Bank announced that Trump’s tariffs disrupted global progress in the “soft landing” in recovery from COVID-19. The bank cited “turbulence” and lowered its projections of economic growth to the slowest in 17 years, outside of the 2008 and 2020 recessions.

When he isn’t disrupting global business, Trump has used his power to attack a steady succession of nations. He has repeatedly antagonized Canada, arguing that it should become the 51st state. He directly insulted the leaders of key allies like Ireland and Ukraine while reigniting his longstanding racist feud with Mexico, even renaming the Gulf of Mexico to the “Gulf of America.”

Trump also floated the notion of using military force to take over Greenland, where he even deployed Vice President JD Vance, further inflaming tensions.

In more recent developments, Trump’s military invasion of Los Angeles is unlikely to improve global perceptions of the United States, not to mention the harassment and detention of international visitors and students.

U.S. tourism is also down under Trump, as he’s made the country more inhospitable to trading partners and allies. The ripple effect of his actions continues to hurt U.S. businesses that rely on spending by tourists, putting a black mark on the country’s global reputation.

Let’s just hope it’s not permanent.

Reprinted with permission from Daily Kos.

Americans Losing Their Jobs

New Data Show Trump Tariffs Are Ruining Job Market

Unemployment claims have risen for the second-straight week, exceeding economists' expectations at the highest level in eight months, the Department of Labor announced on Thursday.

Initial jobless claims stood at 247,000 for the week ending on May 31, higher than the 236,000 claims that economists had been projecting. That jump caused the four-week moving average to increase by 4,500.

"New jobless claims are ticking up. The numbers are still low, but there's an upward trend. This is key to watch. The main reason the US economy has been so resilient is 159.5 million people are still employed and getting paychecks. If that goes down, a downward spiral will start,” Heather Long, the chief economist at Navy Federal Credit Union, wrote on X.

According to the Labor Department, the biggest surge in new unemployment claims was in Michigan, where 8,490 people filed claims—up 3,259 from the week prior. The state’s job losses came from the manufacturing industry, which is being hit hard by President Donald Trump's steel, aluminum, and automobile tariffs.

Indeed, a number of automobile manufacturing companies have announced layoffs, including Stellantis, Ford, General Motors, and a handful of other companies that manufacture car parts.

Ultimately, the increase in jobless claims comes after the payroll company ADP said that just 37,000 private-sector jobs were created in May—a major slowdown and possibly the first tangible signs that Trump's idiotic tariffs are now impacting the job market.

Economists said that Trump’s tariffs would cut into companies’ profit margins, leading to increased prices, layoffs, or both. And the nonpartisan Congressional Budget Office said on Wednesday that the tariffs would cause the U.S. economy to shrink.

“If the president does not reverse course, he will increase the unemployment rate to recessionary levels,” Michael R. Strain, director of economic policy studies at the American Enterprise Institute, told CNBC in April.

All eyes are now on the Bureau of Labor Statistics, which will release its monthly jobs report Friday morning. Should that number come in under economists’ expectations, it will be more proof that their fears of Trump’s tariffs are coming true.

Reprinted with permission from Daily Kos.

Donald Trump

Chin Up! We're Doing Better Than Expected -- Or At Least Trump Is Doing Worse

It’s wonderful to see isn’t it? A snake in the grass slithering up to bite the ass of the person who had beckoned it forth?

That is the spectacle we have been treated to for these weeks and months since January 20, as one executive order signed by Trump after another has fallen to the considerations of judges who, one, can read the law, and two, require that assertions made in the executive orders, and those made by Trump’s DOJ lawyers in court, must be backed up by evidence and that pesky bane of every authoritarian, reason.

Lawsuits have been filed and Trump’s hastily written executive orders have been subjected to scrutiny by legal minds sharper than those which backed up Trump’s Sharpie. Most recently, the ordinarily somnolent Court of International Trade, in a 3-0 ruling, blocked almost all of Trump’s tariffs, which he had imposed using powers he asserted under the International Emergency Economic Powers Act (IEEPA), a 1977 law which allows a president to regulate international commerce after declaring a “national emergency” due to an “unusual and extraordinary threat ... to the national security, foreign policy, or economy of the United States" originating from outside the borders of the country. The court found that retaliating for tariffs imposed by other countries, or otherwise addressing trade imbalances, does not constitute such a threat and thus does not justify the declaration of national emergency necessary for the assertion of powers under the IEEPA.

The Trump administration quickly appealed, and a court of appeals issued a stay of the trade court’s injunction rejecting or limiting Trump’s tariffs, at least until the case can be heard and a ruling can be issued on the merits. In the meantime, a district court issued a similar ruling blocking Trump’s tariffs in response to a lawsuit filed by a toy company that had been hugely and negatively affected by Trump’s tariffs on trade with China. That ruling has also been temporarily stayed on appeal.

Trump reacted to the trade court ruling by attacking the Federalist Society and its leader, Leonard Leo, on whom he had relied for advice on judicial appointments during his first administration. In a rage-filled post on Truth Social, Trump called Leo “a sleazebag” and “a bad person who, in his own way, probably hates America,” his catchall criticism for anyone he feels has wronged him in some way.

Trump’s assertion of power using executive orders has run counter to a Supreme Court decision that he and his arch-conservative legal allies had long sought. The decision, in Loper Bright Enterprises v. Raimondo, overturned the so-called “major questions doctrine” which dated back to 1984 and required courts to defer to federal agencies when interpreting complicated and ambiguous laws. The trade court cited the Loper decision in its ruling slamming Trump’s tariffs. Trump reacted with fury, writing, “The horrific decision stated that I would have to get the approval of Congress for these Tariffs.”

Well, yes, that is what the sting of the Loper decision feels like when it bites you in the ass.

We are witnessing a delicious moment best summed up by what we might call the hippie-era “what goes around, comes around” doctrine. That occurs when the thing that you wished for starts to affect you in ways that you had not contemplated, perhaps because your contemplation of what you wanted was inadequate in its consideration of what effect it might have in the future.

Multiple lawsuits and federal court rulings have kicked much of Trump’s executive order agenda to the curb. A federal court blocked Trump’s attempt to do away with birthright citizenship, which is written into the text of the Constitution. A federal judge in Boston ruled that Trump cannot stop Harvard from accepting foreign-born students. More lawsuits filed by Harvard seek to overturn Trump’s orders to strip Harvard of federal funds and grants. Legal experts say those lawsuits are likely to be successful because the reasoning behind Trump’s moves against Harvard is so blatantly punitive.

Other judges have overturned Trump’s attempts to bar several major law firms from entering federal government buildings, holding top secret security clearances, or representing companies doing business with the federal government, again because Trump’s orders have been nakedly punitive.

Other judges have ordered the return of people deported under false pretenses. The Supreme Court itself handed down an emergency ruling that the Trump administration must afford undocumented immigrants the same due process rights granted to everyone under the Constitution.

The news website Axios summed up the “flood” of rulings against Trump this way: “The headlines are constant: Judge blocks X; Judge freezes Y; Court allows Z to continue.

On Friday, Trump bid farewell to his erstwhile ally, Elon Musk, at the end of his time as a so-called “temporary federal employee” overseeing his DOGE worm-burrowing into federal agencies seeking to eliminate or undermine them, as he did with USAID and the Department of Education. But even in those two cases, federal judges have reversed some of the DOGE moves and reinstated funding and in some cases order the rehiring of employees who had been summarily fired without cause in violation of federal regulations.

The effect of DOGE and Musk has been, by their own measure, lame. Musk announced on the campaign trail and after he was appointed to head DOGE that he would reduce the federal deficit by $2 trillion. Then it was $1 trillion, then $200 billion, and Musk had stopped talking about the federal deficit and started claiming “savings” from the discovery by DOGE of “waste, fraud, and abuse,” which in Washington D.C. could be uncovered by a street sweeper with a broom and dustpan.

In the end, Musk claimed that he had “saved” $175 billion. Robert Hubbell yesterday called that figure a “mirage,” citing “A study by the Budget Lab at Yale estimates that cuts to the IRS will result in $350 billion in reduced tax collections over the next ten years—an amount that is double the alleged ‘savings’ by DOGE.”

Much if not most of what Musk and Trump attempted to do with DOGE has been overturned by federal courts, which have found certain of their moves unconstitutional and others to have violated previous Supreme Court decisions such as the Loper decision. In the meantime, the New York Times headlined on the front page of the Sunday paper a major investigative story on Musk’s drug use during the campaign and afterwards while he was working as a temporary government employee.

Musk was described as having used Ketamine, Ecstasy, psychedelic mushrooms, the stimulant Adderall, and the sleeping medication Ambien. The Times reported that Musk, like all federal employees, was supposed to have been drug-tested periodically during his employment. He was said to have been forewarned of the drug tests so that he could pass them.

So, Donald Trump has relied on a drug-addled madman with Nazi sympathies to undertake his reform of the government he is charged with overseeing. And now Musk has turned on him, criticizing Trump’s “big, beautiful bill” and its lifting of the debt ceiling.

When Trump rolled out his plethora of executive orders, signing the first bunch before an adoring MAGA crowd at a sports facility in Washington on inauguration eve, I first thought, Oh-oh. They’re serious this time.

I should have known. The lawyers Trump used to write the executive orders were not from the big law firms he would soon move to eliminate from working on federal government cases, because those firms had long refused to do legal work for him. According to Adam Bonica, a professor of political science at Stanford, Trump lost a stunning 96 percent of the cases filed against him in federal court during May. During April, he lost 76 percent. During March, the number was 74 percent. The judges ruling against the Trump administration were appointed by both political parties, with those appointed by Democrats outnumbering Republican judges by only 8 percent.

The Washington Post reported today that Trump’s FBI is in “chaos” due to the mismanagement of Director Kash Patel. Over at the Department of Defense, the top aides to Secretary Pete Hegseth are said to be at each other’s throats.

Here is my estimation of where we are on the first day of June, 2025. Things could be a whole lot worse, and they’re showing signs of getting better, as Trump continues to attack the judges he appointed to the bench and former allies like Elon Musk are now off the White House leash and his Adderall-fueled tongue is bound to start wagging.

Chin up. We’ve got a long way to go, but Trump and the fools he appointed to his cabinet are living up to every expectation we should have had about them.

Lucian K. Truscott IV, a graduate of West Point, has had a 50-year career as a journalist, novelist, and screenwriter. He has covered Watergate, the Stonewall riots, and wars in Lebanon, Iraq, and Afghanistan. He is also the author of five bestselling novels. He writes every day at luciantruscott.substack.com and you can follow him on Bluesky @lktiv.bsky.social and on Facebook at Lucian K. Truscott IV. Please consider subscribing to his Substack.

Reprinted with permission from Lucian Truscott Newsletter.

Trump Tariffs

How Trump Will Make The Tariff Shock Worse

In the fall of 1979, as I was just beginning my teaching career at MIT, I went to an economics conference in Vermont. I made the trip in a state of high anxiety — not because I was worried about my presentation, but because I was driving. And it wasn’t at all clear whether I’d be able to find gas for the return trip.

For those were the days of fuel shortages and gas lines, with drivers sometimes waiting hours for the opportunity to refill their tanks.

What happened in 1979 was that the United States faced an inflationary shock: soaring oil prices in the aftermath of the Iranian revolution. That was a bad thing for American consumers. But the experience was made much worse by botched policy. Rather than simply accept higher prices at the pump, the U.S. government imposed a gasoline price ceiling. And as often happens when the government tries to control prices, the result was shortages and a lot of disruption.

Obligatory disclaimer: Price controls, or more generally government pressure on companies to keep prices down, aren’t always a bad thing. Back in 1962, when John F. Kennedy pressured the steel industry to roll back a coordinated price increase, his actions made sense: Steel companies weren’t responding to higher costs, they were collaborating to take advantage of monopoly power.

But trying to simply order businesses not to pass on a genuine cost shock is asking for trouble. Which brings us, as most things seem to these days, to Donald Trump.

Right now U.S. business is facing a large cost shock created by Trump himself. Even after the partial climbdown last weekend, the average U.S. tariff rate stands at 17.8 percent, up 15 points from its pre-Trump level. Since imports of goods are more than 11 percent of GDP, that’s a big shock to consumer prices. And no, foreigners won’t pay the tariffs.

Now, an inflationary hit this size is a bad thing. Still, it could be a one-time event, something the economy absorbs before moving on. But for that to happen we’d need an intelligent, responsible policy response.

Hehehe.

What we’re actually going to get are the three Ds: denial, dirigisme and deception.

Denial: Trump has, of course, repeatedly insisted that there is no inflation in America, pronouncing reports of rising prices “fake news.” What’s new is that Scott Bessent, the Treasury secretary — who was, you may remember, supposed to be the adult in the room — has gotten into the act. On Meet the Press Sunday, Bessent dismissed inflation concerns by asserting that

Gasoline prices have collapsed under President Trump … that is a direct tax cut for consumers.

Now, in general presidents deserve neither credit nor blame for fluctuations in gasoline prices, which mainly reflect the global price of crude oil. But that aside, what the heck is Bessent talking about? Here’s what has been happening to gas prices:

Source: Gasbuddy.com

I do not think that word “collapsed” means what he thinks it means.

So is Bessent just lying? Or has he joined Trump in his epistemic bubble, where reality is what he wants it to be? I’m not sure which is worse.

Dirigisme: Originally a term from postwar France, it refers to an economy that remains mostly in private hands but in which the government sometimes tries to tell companies what to do. It remains unclear to this day how well dirigisme actually worked or even how much it was real as opposed to officials getting in front of an economic parade that was happening anyway and pretending that they were leading it. What’s true is that dirigisme may not do too much harm when practiced by sophisticated, well-informed technocrats.

What won’t be harmless is when dirigisme is practiced by a president who takes time off from declaring that Taylor Swift is “no longer hot” to issue demands like this: Now, Walmart, while profitable, can’t actually afford to EAT THE TARIFFS. (Weren’t the Chinese supposed to do that?) So what will Walmart and other companies do if Trump’s tariffs are way up but they’re afraid to risk Trump’s ire by increasing prices?

Hello, empty shelves.

Finally, deception: What will happen when the tariffs start showing up in official measures of inflation, which will happen soon? Erica Groshen, former head of the Bureau of Labor Statistics, is worried. In a recent briefing paper she warned that changes in personnel policy

could lead to the politicization of the federal statistical workforce … for example, Bureau of Labor Statistics’ leaders could be fired for releasing or planning to release jobs or inflation statistics unfavorable to the President’s policy agenda.

So when inflation rises, the Trump administration could simply bully the statistical agencies into claiming that it never happened. You may say that they couldn’t or wouldn’t do such a thing. But so far people downplaying what Trump and co might do have been wrong every time, while the often-mocked alarmists have been consistently right.

The bottom line is that the direct economic consequences of Trump’s tariffs will surely be bad, but his unwillingness to accept the reality of those consequences will probably make them considerably worse.

Paul Krugman is a Nobel Prize-winning economist and former professor at MIT and Princeton who now teaches at the City University of New York's Graduate Center. From 2000 to 2024, he wrote a column for The New York Times. Please consider subscribing to his Substack, where he now posts almost every day.

Reprinted with permission from Substack.

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