Do you remember that battle scene from Avengers: Infinity war where Thanos was fighting everyone on Titan, & when he almost lost decided to rain down shards of moon crust upon everyone‽ Yeah, that is Donald Trump right now.
Unable to stem the flow of illegal immigrants (aka undocumented workers) through sheer will & calm diplomacy (LOL), the President of the United States has decided to embrace his inner Thanos & place tariffs on anything entering America from Mexico.
On paper, tariffs sound awesome, but in practice, all they will do is increase the cost of living for working & middle-class Americans—all the while reducing their income or eliminating it altogether via mass firings (aka layoffs).
As expected the stock market did not react too kindly to the news.
The tech industry was not impressed either.
In statements on Friday, top tech industry, lobbying, and advocacy groups argued that these new tariffs were inappropriate and could lead to Mexico imposing its own tariffs on the US in retaliation, with serious consequences for the industry if the situation escalates.
“This is potentially devastating to American small businesses and all the people they employ,” Gary Shapiro, president and CEO of the Consumer Technology Association (CTA), said in a statement. “This is a short-sighted, short-tempered reaction that doesn’t recognize a basic economic fact – tariffs are taxes.” The CTA sponsors consumer tech events, including its annual Consumer Electronics Show (CES). (The Verge)
It is doubtful Congress will intervene as Republicans lack the courage to halt Trump’s madness, while Democrats will exploit this fiasco in order to increase liberal turnout in 2020.
Unless the federal courts intervene, the best the less blessed Americans can do is attempt to survive the pending storm & reduce spending wherever they can (as this will probably not end anytime soon).