The Business Playbook for Tariff Chaos
President Trump’s trade war is forcing companies to cut costs, raise prices, shrink profits, discontinue products and find other suppliers.
President Trump’s trade war is forcing companies to cut costs, raise prices, shrink profits, discontinue products and find other suppliers.
Once sidelined, President Trump’s counselor Peter Navarro has returned to Washington and quickly upended the global trading system.
“You have to laugh to keep from crying,” one Republican pollster said about recent comments by the billionaires on the stock market, retirement funds and Social Security.
As of August, the president’s investment portfolio showed significantly more in bonds than in stocks. It is unclear if his personal holdings had any bearing on his decisions regarding tariffs.
In Washington, President Trump lavished praise on Prime Minister Giorgia Meloni of Italy. He also accepted her invitation to visit Rome.
President Trump’s post on social media caused the stock market to respond in an unusual way. Rob Copeland, a finance reporter for The New York Times, explains whether this could be considered market manipulation by the president.
Jerome Powell has said that the Federal Reserve can be patient as the effects of tariffs become more clear. President Trump, pushing for interest rate cuts, said, “Powell’s termination cannot come fast enough!”
Kristalina Georgieva, the managing director of the International Monetary Fund, warned in a speech that protectionism erodes productivity.
For his first face-to-face talks on tariffs, the president chose Japan, a U.S. ally that decades ago stirred his anger over the unequal balance of trade and his penchant for tariffs.
Jerome H. Powell warned that President Trump’s tariffs could lead to a “challenging scenario” for the central bank.