Monday was a wild day at the New York Stock Exchange, as the markets reacted to Donald Trump’s moronic trade war. For years, racist idiots claimed that they voted for Trump because “he’s a businessman and he’ll be good for business.” He hasn’t been in office for three full weeks and he’s already tanking the American economy and planes are falling out of the sky. Yesterday, after insulting and denigrating our North American trade partners, drama queen Don made some “last minute deals” to pause his tariffs on Canada and Mexico for 30 days. Apparently, Mexico and Canada rooked the con man – they “promised” to deliver on things they were already doing and Trump took those deals to save face. However, the tariffs on Chinese goods have started, and China is already retaliating.

Beijing responded swiftly on Tuesday to the tariffs President Trump had promised, announcing a fusillade of countermeasures targeting American companies and imports of critical products. Mr. Trump’s 10 percent tariff on all Chinese products went into effect at 12:01 a.m. Tuesday, the result of an executive order issued over the weekend aimed at pressuring Beijing to crack down on fentanyl shipments into the United States.

The Chinese government came back with a series of retaliatory steps, including additional tariffs on liquefied natural gas, coal, farm machinery and other products from the United States. It also said it had implemented restrictions on the export of certain critical minerals, many of which are used in the production of high-tech products.

In addition, Chinese market regulators said they had launched an antimonopoly investigation into Google. Google is blocked from China’s internet, but the move may disrupt the company’s dealings with Chinese companies.

The U.S. tariffs, which Mr. Trump said on Monday were an “opening salvo,” come on top of levies that the president imposed during his first term. Many Chinese products already faced a 10 or 25 percent tariff, and the move adds a 10 percent tariff to more than $400 billion of goods that Americans purchase from China each year.

Mr. Trump had been planning to hit America’s three largest trading partners, Canada, Mexico and China, with tariffs of varying degrees. But after days of frantic negotiations, Mr. Trump agreed to pause the tariffs on Mexico and Canada for 30 days after the Canadian and Mexican governments promised to step up their oversight of fentanyl and the border.

[From The NY Times]

But the price of eggs, amirite? Now Trump voters are falling all over themselves to justify Trump’s sh-tty economic policies and his tanking of the American economy. What’s sad is that the only thing which might stop Trump’s economic death spiral is the avarice of the Republican business class. Speaking of, Rupert Murdoch was in the Oval Office on Monday too – the Murdoch-owned Wall Street Journal has been very critical of Trump’s tariffs and his moronic economic policy. While Murdoch supports Trump in a general sense, apparently Murdoch can’t stand Trump on a personal level. I wonder if Murdoch was sent by the business contingent to tell Trump to settle down.

Photos courtesy of Cover Images.