DJT China quietly exempts US goods from tariffs, covering around $40 billion worth of imports, in an effort to soften the blow of the trade war on its own economy: BBG
DJT GM CEO Mary Barra says the Trump administration’s tariffs on imported cars and auto parts will cost General Motors between $4 billion and $5 billion this year, as the nation’s largest automaker slashed its earnings projections.
According to an estimate from American University Kogod School of Business, GM’s US-built vehicles have American parts making up an average of 54% of their content.
DJT Trump’s explanation of how tariffs will affect US consumers: "Somebody said, oh, the shelves are going to be open, well, maybe the children will have two dolls instead of 30 dolls, you know. And maybe the two dolls will cost a couple bucks more than they would normally."
DJT Trump loses yet again… GDP registered at an annualized rate of -0.3% in the first quarter, the Commerce Department said Wednesday. That’s a sharp slowdown from the fourth quarter’s 2.4% rate, and much worse than the 0.8% rate economists projected.