President Donald Trump. (Saul Loeb/AFP/Getty Images)
Opinion editorial by WBZ NewsRadio political analyst Jon Keller
BOSTON (WBZ NewsRadio) — Do yourself a favor—don’t check on how your 401k is doing this morning.
After dropping close to three percent of its value yesterday, the stock market isn’t a pretty sight. And while it’s hard to get political consensus on anything these days, there seems to be agreement across the spectrum that we have the clueless, reckless trade policies of our president—the self-proclaimed “Tariff Man”—to thank for it.
China has been a bad actor on monetary and trade policy for years, no doubt about it. And Mr. Trump touched a nerve during his campaign when he vowed to push back harder.
But three years later, all we have to show for the tariff war he initiated (and claimed was “easy to win”) is broken-down negotiations with the Chinese, soaring prices on a range of goods Americans want to buy, and a vote of no-confidence by the markets.
You can tell the White House is in a panic about this.
Late last month the president announced a $16 billion bailout for farmers devastated by the damage done to their businesses. And he continues to peddle the claim that the cost of tariffs isn’t passed on to Americans.
According to a recent study, that is the total opposite of the truth.
Nonetheless, over the objections of most of his own advisors, Mr. Trump wants to escalate the war. And according to the financial firm Morgan Stanley, if he follows through, he could trigger a global recession by next spring – right in time for the election.
Nice work, Tariff Man!
Hey, take yourself down if you must.
But please, don’t take us down with you.
You can listen to Keller At Large on WBZ News Radio every weekday mornings at :55 minutes past the hour. Listen to his previous podcasts on iHeartRadio.
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