The Story
How Trump’s tariffs are splitting his base
Apr 7, 2025
Gerard Baker, a seasoned columnist for The Times and editor-at-large of The Wall Street Journal, dives into the divisive effects of Trump's tariffs on his support base. He discusses the economic toll on both blue-collar workers and billionaire backers, questioning who will bear the brunt of these policies. The conversation reveals growing unrest among Republicans and highlights the stark challenges facing America's Rust Belt. Baker also reflects on the broader global implications, illustrating how U.S. trade decisions resonate far beyond its borders.
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Quick takeaways
- Trump's tariffs are causing significant market volatility, leading to skepticism among investors about the impact on the economy and potential recession.
- A growing division among business leaders regarding Trump's tariffs indicates increasing dissent within the MAGA coalition about economic policies.
Deep dives
Market Turmoil and Trade Wars
Recent market events have shown a significant decline, with global stock markets plummeting largely due to President Trump's trade war decisions. The volatility has resulted in a rapid loss of value, marking historic downturns, such as the Dow losing more than 2,000 points in just one day. Experts express skepticism about the underlying causes, pointing out that this downturn is primarily driven by policy decisions rather than the usual economic factors. The uncertainty surrounding Trump's tariffs has investors wary, contributing to fears of a potential recession.
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