Morning Wire Tariffs Trigger Turmoil & Anti-Trump Protests Erupt | 4.7.25
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Apr 7, 2025 Wall Street's instability looms as President Trump's tariffs stir economic fears. An expert weighs in on the impact of these trade decisions on manufacturing and international relations. The ongoing protests against Trump and Musk showcase the rising societal divisions, reflecting people's frustrations over economic conditions. Meanwhile, the Federal Reserve's potential moves loom large amidst the uncertainty, leaving many to question the future of the U.S. economy as the nation grapples with inflation and job security.
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Market Turmoil and Trump's Response
- The stock market experienced significant losses after Trump's tariff announcement, raising recession fears.
- Trump's administration argues that market health isn't indicative of overall economic health and prioritizes job creation.
Economic Impact of Tariffs
- Economist David Bonson criticizes Trump's tariffs, predicting potential long-term economic pain and declining growth.
- He believes the focus should be on reducing government debt and promoting private sector efficiency, not picking winners and losers.
Anti-Trump Protests and Funding
- Anti-Trump protests occurred nationwide, vaguely named "Hands Off", without concrete goals but with various grievances.
- Soros-funded Indivisible supported the protests, while Border Czar Tom Homan criticized them, citing a child predator arrest.