In a most theatrical display, the esteemed economist Peter Schiff has taken to the stage, denouncing the grandiloquent U.S. President Donald Trump for his audacious threat to impose a staggering 50% tariff on imports from the European Union. Schiff, with a flourish of his pen, has labeled this maneuver as nothing short of market manipulation, a ruse that serves only the privileged few.
Trump: The EU, A Machination Against America?
Our protagonist, the economist Peter Schiff, has boldly declared that President Donald Trump’s threat to levy a 50% tariff on European imports is a cunning ploy, crafted to benefit the insiders. It appears that under this new proposal, Americans would find themselves paying more for European goods than for those from China, allowing the elite to “trade before the tariffs are rescinded, basking in a false victory.” Ah, the irony! 😂
These remarks were made shortly after the President, in a moment of social media bravado on May 23, reiterated his belief that the EU was conjured solely to exploit the United States in matters of trade. The tariffs, he proclaimed, would take effect on June 1. One can only imagine the fervor with which he typed those words!
On April 10, mere hours before announcing a 90-day pause on reciprocal tariffs, Trump, ever the showman, urged his followers on Truth Social, “This is a great time to buy!!! DJT.” This proclamation ignited a firestorm of controversy, especially after his suspension of tariffs led to a market rally that erased most of the post-Liberation Day losses. Some Democrats, sensing an opportunity, have since demanded an investigation into potential insider trading. Oh, the tangled webs we weave! 🕸️
Meanwhile, Schiff has dismissed the notion that Trump’s latest tariff threat is a “bold” negotiating tactic aimed at safeguarding American industries and jobs. He pointed to the ongoing tariff war with China, from which the U.S. “gained nothing,” as evidence that Trump’s threats are merely “political theater.” A performance worthy of the finest critics! 🎭
The market, in its usual dramatic fashion, reacted swiftly to Trump’s post, with key U.S. indexes, including the Dow Jones Industrial Average and S&P 500, experiencing sharp declines. Bitcoin, having just reached a new zenith less than 24 hours prior, plummeted by 2.6%. Such is the fickle nature of fortune!
Read More
- Silver Rate Forecast
- SPEC PREDICTION. SPEC cryptocurrency
- ETHFI PREDICTION. ETHFI cryptocurrency
- USD PHP PREDICTION
- OM PREDICTION. OM cryptocurrency
- How Stabull Solves The Stablecoin Chaos (With a Wink and a Nudge) 💰✨
- INR RUB PREDICTION
- BXN PREDICTION. BXN cryptocurrency
- CAT PREDICTION. CAT cryptocurrency
- RUNE PREDICTION. RUNE cryptocurrency
2025-05-24 02:58