As a small business owner, I read and watched with some trepidation when Donald Trump announced on 2 April that the US was implementing tariffs worldwide to 181 countries. Major countries were slapped with as much as 54 % tariffs (China for example).
How will these tariffs impact the world ? Who will bear the brunt of his Make America Great Again ?
One thing is for sure, the stock markets around the world have dropped as much as 10 - 15% of their value and left a trail of trillions of dollars of losses.
US Citizens will feel the major brunt of the action, in the short run. Price of eggs for example have escalated from US$ 0.30 to US$ 1.00 per egg. If the person was a multi millionaire or billionaire, then the impact on his monthly expenses will be insignificant, but for tens of millions of Americans this will mean the difference of eating 3 meals a day to perhaps 2 meals a day.
It is a terrible reduction in the quality of life for tens of millions of American citizens.
The recent DOGE action to terminate literally hundreds of thousands of US Federal jobs have made millions of families go to the edge of bankruptcy and despair, coupled with the loss in trillions of dollars in ETFS share prices whereby the 401 (K) retirement funds are invested in, means that their promised pensions may be cut by up to 30%. Their 'golden retirement' nest egg and the Medicaid cuts are all being thrown into a cesspool of uncertainty.
Worldwide, there may be geopolitical instability as the bastion of democracy and freedom these last 80 years after the 2nd World War is no more.
The USA is fast becoming no more than a self serving 3rd world country with a big chip on its shoulder. Friendly countries are being dumped and faced with uncertainty and stonewalling.
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