TOTAL DISASTER! Trump Stock Market Plummets, Nintendo Pricing Backlash Getting Worse, & Today's News

I personally am shocked that the consequences every economist predicted came to pass!

The fact that an island that has literally (and I mean the actual literally) no people and is home only penguins got hit with tariffs just shows how horribly thought out this plan was.

Small business owner here. Got off the phone with my supplier and here is the dirty: If I bought $20,000 worth of goods in December (shipped) I paid 10% or $2,000 in tariffs. If I now buy $20,000 in goods, I pay $13,400 for those goods. As a small business, we just have to figure it out. Local companies can't make what I need, I've looked. Note: Tariffs don't hurt massive companies as much as small. Why? Economies of scale. I can't afford to buy 30,000 units of something. Walmart can.

I'm an Australian we have a free trade agreement with the US. We received a 10% tariff. This is a betrayal of our century long alliance. America has thrown out it's closest friends over a 7 year old's understanding of economics. I weep for the American people and whats about to come.

Mark Cuban said the same thing I've been saying since this whole tariff debacle started. Foreign goods are going to get more expensive, but American companies are also going to raise prices because they don't have to compete as hard as they used to. The problem is that most consumers don't have the disposable income to purchase a bunch of consumer goods ahead of these price raises.

Yes, take a break Phil! You and your team have been running a marathon this year. Gonna miss you when you're gone, gonna love when you're back.

Fun fact, he also tariffed two sets of completely uninhabited areas. He put in a tariff on Jan Mayen and the Heard and McDonald Islands, so he's basically tariffing polar bears and penguins.

I'm still surprised we are letting someone that filed bankruptcy make financial decisions for the country.

Fun fact about Trump tariff : Producer countries (agricultural products) will end up deciding to reduce exports to US which in turn will finally reduce the prices of those items in their own country which would help their country lower their food inflation . Exotic fruits wont remain as exotic(pricewise) for the citizens of the producer country. So in that terms its a massive W for a lot of Asian countries.

One thing people seem to forget is that once the price of a good goes up, it rarely goes down. We’ve been in a freight recession for years now but the costs of goods are still high from when the freight rates spiked just after Covid.