"Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.
That’s a
$20B annual loss for the United States at $60/barrel."
-S Hakimian
When will the Republican oil barons, mega-farmers... call their Senators & Reps to demand that Trump be impeached?
Nasdaq drops 4% as tech sell-off accelerates:
Shares of Nvidia sank 10%, after the co said it'll post a $5.5B quarterly charge related to exporting its H20 graphics processing units to CN & other nations -US govt required a license to send chips from the US to CN.
We're not enamored with bankers or hedge fund bros, but if they can stop the economic hemorrhaging by convincing Trump to rescind the tariffs, we'll be relieved.
#Tariffs #Trumpcession #Resist #April19 #USPol
https://www.cnbc.com/2025/04/15/stock-market-today-live-updates.html
@KimPerales The #TrumpEffect is the opposite of the Meidas touch (everything #Trump touches turns to 
), but the result is the same; #tragedy.
"This is one of China’s economic nuclear weapons, and it has already chosen to use it.
If an immediate de-escalation is not reached, and companies run out of existing inventory, a significant portion of the U.S. economy will effectively be shut down."
-S Hakimian
Republicans' sycophancy is mind-blowing. They're taking down the entire global economy.
US Customs & Border Protection told CNBC the department has collected >$500 million under Trump’s latest tariffs. Trump has repeatedly said the US is taking in $2B per day from tariffs.
CBP says the average $250M a day was collected even during the glitch that impacted freight already on the water.
Someone at CBP will likely get fired, they're not lying for Trump.
#Tariffs #Trumpcession #Lies #USPol https://www.cnbc.com/2025/04/16/us-customs-tariffs-revenue-generated-since-april-5.html
The WTO warned on Wed that the outlook for global trade has deteriorated sharply due to a surge in #tariffs & trade policy uncertainty." Based on the tariffs -in place, +90-day suspension of “recip tariffs,” the volume of world merchandise trade is now expected to
by 0.2% in 2025 -anticipated to be particularly steep in N America -exports: forecasted toby 12.6% this yr.
Rs continue to enable Trump's destructive agenda -affecting the global #economy.
#Trumpcession #USPol https://www.cnbc.com/2025/04/16/global-trade-outlook-for-2025-has-deteriorated-sharply-wto-warns.html
“I can see how some #tariffs might help us compete with #Mexico but are we really getting targeted by every other country or are we on the wrong side of this? We’ve already had two years of absolute disaster with falling prices & weather patterns … no farmer wants this but without a #bailout this could be devastating & a lot more people could go under,” Johnson said.
RGV #farmers sell sorghum, wheat, corn & vegetables to #Mexico among other crops, while buying fertilizer & equipment – & relying on Mexican farmhands for cheap #labor. Mexico is the US’s largest #trading partner, while #China is the main buyer of American sorghum & cotton. All US products destined for China face a 125% tax thanks to #Trump’s #tariff war, & could cut farmers off from core #markets.
Small- & medium-sized farms were already struggling amid worsening #climate shocks & volatile commodities #markets, on top of being squeezed by large #corporations that dominate the #SupplyChain.
In recent weeks, #farmers in Texas & across the midwest have suffered millions of dollars of crop losses due to unprecedented heavy rainfall & #flooding.
‘Shock to the system’: #farmers hit by #Trump’s #tariffs & cuts say they need another #bailout
With #ExtremeWeather & Trump’s #TradeWar, US farmers are reeling & resigned to needing more cash help
Farmers across the #UnitedStates say they could face financial ruin – unless there is a huge #taxpayer funded bail out to compensate for losses generated by Trump’s sweeping cuts & chaotic tariffs.
#economy #recession #trumpcession
https://www.theguardian.com/us-news/2025/apr/15/farmers-trump-tariffs-bailout-extreme-weather
EU EXPECTS US TARIFFS TO REMAIN AS TALKS MAKE LITTLE PROGRESS
Equity markets are being way too complacent if you ask me."
-S Hakimian
"MSM is missing the point, Trump, with the aid of Congressional Republicans, is intentionally tanking the economy for #privatization.
"Trump, Xi "don't have any plans" to speak amid tariff standoff."
"Japan PM cautions against major concessions in US trade talks."
#Tariffs #Trumpcession
#Resist #April19 #USPol
https://www.cbsnews.com/news/jamieson-greer-trump-xi-tariff-standoff/
https://thehill.com/policy/international/5247771-japan-trade-talks-us/
"Foreign tourism has fallen off a cliff.
This is a $100B domestic industry largely concentrated in NYC, southern Florida, southern California, and Las Vegas.
Hotels, airlines, restaurants, and tour guides are already feeling the pain."
-S Hakimian
If Trump isn't stopped from his path of destruction, the US will be in deep recession by the summer.
"The idea that “it was time for Wall St to take a back seat, so Main St could thrive”…
To be clear - in times of volatility, trading desks can make a killing.
In time of recession-investors can bet against the mkt & win.
When everything costs more,
Main Street feels the pain."
-S Ruhle
"30 Year Mortgages now cost 7.50% again.
Nothing working out for consumers here.
Just an avalanche of bad news one after another."
-R Hakimian
"Staffed by just 100 fed workers, the CDFI Fund is one of the best deals in govt -funds local financial institutions that have financed 1000s of small businesses & 45K housing units. Many rural. But it's on the chopping block."
-S Mitchell
Pass it on:#Trump & his GOP allies are destroying the US government, alliances, the economy, trade, businesses, jobs, lives, livelihoods, communities... for #privatization.
#Trumpcession #Tariffs #DOGE #Musk #Republicans #Coup #USPol https://www.bloomberg.com/news/articles/2025-04-07/trump-order-on-cdfi-fund-puts-small-businesses-and-affordable-housing-at-risk
Gilbert can't increase the price of the milk he sells *set by the local co-op. can't feed his cows less food or buy feed from another supplier -aren’t any nearby.
But the tariff was legal &-it was Gilbert’s resp. The dairy farmer is one of 10s of 1000s of American business owners caught in aspiraling trade war, & lives in one area of the US that might already be tipping into a #recession bc of it. Bus' near the CAN border: esp vulnerable.
https://www.theatlantic.com/ideas/archive/2025/04/recession-tariffs-canada-trump/682297/
“Looks like those exemptions for the tariffs didn't work on China. Now, it's suspended shipments of magnets & critical minerals to choke off components used to make cars, aerospace tech & semiconductors.”
-EM Garcia
Trump & his Republican loyalists are destroying our economy, & what’s left of our reputation after the traitorous president betrayed our allies, befriended our former enemies, & started an unwinnable trade war with CN.
#Tariffs #Trumpcession #Resist #USPol
https://www.nytimes.com/2025/04/13/business/china-rare-earths-exports.html
China and Japan own over $1.75 Trillion of US debt. If they start selling that debt, then confidence in the US dollar will collapse and the (arguably) overvalued US economy will come crashing down to earth.
All it takes is one arsehole president to tip the balance by stating a trade war...
https://usafacts.org/articles/which-countries-own-the-most-us-debt/
“Trump Tariffs on China will soon bring ‘irreversible’ damage to many American businesses.
For most businesses in the US, orders from China are being CANCELED & Chinese freight being shipped could be abandoned.”
Will Trump be convinced to halt the #tariffs before it’s too late? He only has a few days before he wreaks more damage on the already weakened US #economy.
Wait for the non-answer the PM gives as the bumblefuck fails to be the leader we need for these fast moving and dangerous times.
