Trump Shakes Markets and Economy

ELECTRIC SHOCK: President Trump pulled another reverse yesterday, saying he was going to double tariffs on Canadian steel and aluminum to 50 percent because Canada placed a tariff on electricity sold into the US … then backed off later in the day.

  In his social media post announcing the tariff, Trump also expressed outrage that Canada would place a tariff on anything so crucial as electricity complaining, “And can you imagine Canada stooping so low as to use ELECTRICITY, that so affects the life of innocent people, as a bargaining chip and threat?”

  Later in the day the premier of Ontario, Canada’s most populous province, said he would suspend the electricity surcharge, and Trump responded at the White House he would “probably” reduce the tariff on Canadian metals. The White House claimed that Trump’s threats caused Canada to back down.

  Trump’s whipsaw approach caused the financial markets to decline again yesterday, coming closer to the 10 percent drop that defines a market correction. 

   Some economists say Trump’s chaotic moves might cause a recession. But Commerce Secretary Howard Lutnick said, “The only reason there could possibly be a recession is because the Biden nonsense that we had to live with.” The economy was robust and even overheated under Biden.

  The trade war heated up with US tariffs on imported metals going into effect today and the European Union announcing up to about $28 billion in retaliatory tariffs on US exports. 

 In his yesterday morning post, Trump also threatened to put Canadian auto plants out of business, causing massive unemployment up north. “If other egregious, long time Tariffs are not likewise dropped by Canada,” he wrote, “I will substantially increase, on April 2nd, the Tariffs on Cars coming into the U.S. which will, essentially, permanently shut down the automobile manufacturing business in Canada.”

  Then he said the only solution is for Canada to be absorbed by America, as if the Canadians would want him for their leader. “The only thing that makes sense is for Canada to become our cherished Fifty First State,” he tapped into Truth Social. “This would make all Tariffs, and everything else, totally disappear.”

  It’s not all bad. Trump said they could still play “O Canada as the anthem of the 51st state.

BUT WAIT, THERE’S MORE: 

—  The Education Department announced that it is firing more than 1,300 workers, a move toward gutting and eliminating the agency that manages federal loans for college, tracks student achievement, and enforces civil rights laws in schools.

  Combined with the 572 employees who accepted Elon Musk’s “Fork in the Road” buyout, the education department will be reduced to about half staff. 

  Trump has said, “The department of education is a big con job.” The Education Department cannot be completely eliminated without congressional approval, but the administration might have the power to leave it as an entity in name only.

— The Trump administration intends to eliminate Environmental Protection Agency offices responsible for addressing the high levels of pollution affecting poor communities, according to a memo from Lee Zeldin, the agency administrator, obtained by news organizations. Zeldin’s memo told agency leaders that he is directing “the reorganization and elimination” of the offices of environmental justice at all 10 EPA regional offices as well as the one in Washington.

— The law firm Perkins Coie sued the Trump administration to stop President Trump’s punitive executive order written to prevent the firm from representing its clients. The order is a clear act of retribution against the law firm that represented Democrats during the 2016 presidential campaign.

  Trump’s order strips Perkins Coie lawyers of security clearances as well as access to government buildings and officials. The order accuses the law firm of “undermining democratic elections, the integrity of our courts, and honest law enforcement.”

— Following the detention and threatened deportation of former Columbia University protest leader Mahmoud Khalil, a legal resident Palestinian with a green card, the Department of Homeland Security says it plans to arrest more foreign-born protesters. The State Department under Marco Rubio says Khalil can be deported under a little-used law that would define him as a threat to US foreign policy.

THE WAR ROOM: Ukraine agreed to a 30-day ceasefire with Russia and the US immediately restored military aid and intelligence assistance. The Trump administration had suspended both in order to weaken Ukraine and force it to agree to a ceasefire.

  Hours after Ukraine made its offer, Russia attacked Volodymyr Zelensky’s hometown. Russia said it will “carefully study” the ceasefire offer.

  Secretary of State Marco Rubio said the ball for any truce is now in Russia’s court, although that’s where it’s always been because Russia invaded Ukraine and could have stopped at any time in the past three years. “We’ll take this offer now to the Russians, and we hope that they’ll say yes, that they’ll say yes to peace,” Rubio said. Russia has given no indication that it will do that.

THE SPIN RACK: The House yesterday passed a six-month spending bill to keep the government running. The Senate must pass it by midnight Friday to avoid a shutdown. —   Former Philippine leader Rodrigo Duterte was arrested in Manila and flown to face charges at the International Criminal Court in Rotterdam. He’s accused of  crimes against humanity for his crackdown on drugs in which thousands of people were killed. — Southwest Airlines is joining other pocket-picking airlines with an announcement that they will start charging for checked bags.   

BELOW THE FOLD: Stock in Elon Musk’s Tesla car company tanked 15 percent on Monday as Musk haters have sold their cars and some have attacked Tesla dealerships and set fire to charging stations. Tesla sales have plummeted as potential customers express their unhappiness with Musk’s dismantling of the federal government. Yesterday President Trump bought a Tesla on the White House lawn to promote his buddy’s company.

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Thursday, April 30, 2026

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The Most Corrupt Justice

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Friday, August 13, 2021

It's Been Said

"Christians, get out and vote, just this time. You won't have to do it anymore. Four more years, you know what, it will be fixed, it will be fine, you won't have to vote anymore, my beautiful Christians. I love you Christians. I'm a Christian. I love you, get out, you gotta get out and vote. In four years, you don't have to vote again, we'll have it fixed so good you're not going to have to vote."

  • Donald Trump courting the vote of the Christian right

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