President Donald Trump remains apparently convinced that nefarious forces hidden away within the U.S. government are out to get him. This Wednesday, as a new front in the U.S./China trade war opened up, he got on Twitter to insist that the real problem isn’t China — it’s the Federal Reserve, which has implemented interest rate hikes that Trump has consistently been up in arms over for supposedly stifling his utopian economic growth that’s just around the corner. He’s making these claims yet again as the stock market again plummets by hundreds of points and contracts significantly over what’s been termed the “extreme fear” enacted by his punitive trade policies, which China has responded to most recently by significantly devaluing their currency. Thus, once they reach the high amounts required by U.S. tariffs, they’ll still have some value behind while inflicting volatility.
While this rages, the forever egomanical Trump railed as if the world economy hinged on someone’s personal grudge against him. That’s not an exaggeration; he shared, in part:
‘Our problem is not China – We are stronger than ever, money is pouring into the U.S. while China is losing companies by the thousands to other countries, and their currency is under siege – Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much (and that I was right!)… Incompetence is a .terrible thing to watch, especially when things could be taken care of sooo easily.’
Droning on like someone who doesn’t even know how to use English correctly about how really, everything is about him isn’t a good look for a president of the United States.
The newest tariffs that his team has unveiled constitute a 10 percent hike on the import price of some $300 billion worth of imports from China. According to one new study, the already in-place tariffs have cost American businesses some $3.4 billion just in June, and they’ve been in place for months on end. The cost of doing business just keeps getting higher because Trump wants to teach other countries a lesson — or something.
Check out Twitter’s response…
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