Trump snaps, throws unhinged temper tantrum - Brian Tyler Cohen

[TexasTowelie]

Transcript:

if you want to see what it looks like
when Trump begins to lose control here
it is he took to True Social today
writing "If the courts somehow rule
against us on tariffs which is not
expected that would allow other
countries to hold our nation hostage
with their anti-American tariffs that
they would use against us this would
mean the economic ruination of the United
States of America." Now first of all
Trump's little temper tantrum would
probably be a little more effective if
we hadn't already gone 250 years without
seeing what he's vowing will happen he
said "If the president can't
unilaterally impose tariffs on the rest
of the world then other countries will
hold us hostage and usher in economic
ration." Tell me how have we survived
all of this time without presidents
being able to wield this power think
about it no other president has asserted
this authority that's why the courts are
saying that Trump himself can't meaning
that it hasn't happened here and yet
Trump is trying to gaslight us into
believing that if he can't do this if
any president can't do this then that'll
lead to the demise of America if anyone
has an answer to that I'm all ears so
here's the deal the courts already have
ruled against Trump as it relates to
tariffs a three- judge panel on the
Court of International Trade composed of
two Republicans and one Democrat have
blocked his use of the emergency powers
that he claims give him cart blanch to
impose sweeping tariffs on other
countries and while that decision was
temporarily stayed by an appeals court
the reality is that when the appeals
court does finally rule on the merits
it'll likely be upheld there too
considering that panel is 7 to4 Democrat
to Republican and then of course it'll
be up to the Supreme Court to render the
final verdict here but it's likely to do
so with multiple courts having already
issued sweeping rulings outlining how he
is employing a power that does not exist
and by the way Trump already barrels
ahead with this asinine fight at his own
peril his tariffs are already sending
costs skyrocketing with inflation now
set to rise one Federal Reserve governor
said today "Thinking about the rest of
2025 and 2026 I expect the largest
factor driving inflation will be
tariffs." And as I said earlier whatever
the size of the tariffs I expect the
effects on inflation to be temporary and
most apparent in the second half of 2025
here's the Fed chair Jerome Powell
echoing that sentiment here how much of
the higher inflation uh forecast for
this year is due to tariffs and since
the policy path remains the same are you
effectively reading this as a one-time
uh price level shock
okay so how much of it is um is tariff
so let me say that it is um going to be
very difficult to have a precise
assessment of how much of inflation is
coming from tariffs and from from other
and that's already the case you may have
seen that um goods inflation moved up
pretty significantly in the first two
months of the year trying to track that
back to actual tariff increases given
what was tariffed and what was not very
very challenging so some of it the the
answer is clearly some of it a good part
of it is is coming from tariffs but uh
we'll be we'll be working and so will
other forecasters to try to find the
best possible way to separate non-tariff
inflation from tariff inflation so
Trump's tariffs will cause inflation to
rise which is really something
considering this is the kind of stuff
that Trump would spew on the campaign
trail Kamala's inflation nightmare had
think of this has cost the typical
American family
$30,000 think of that one higher prices
because the inflation's just raised and
you know what started when they played
around with my energy i had no inflation
we had the greatest energy we've ever
had i was going to have it four times
higher by now and we're going to do that
but we got a little bit of a delay
because and we're going to have it four
times higher we were going to take care
of Asia we're going to take care of
Europe we're going to take care we're
going to make a fortune start paying
down debt we have 35 trillion in debt
we're going to lower your taxes i gave
you the largest tax cut in the history
of our country and the largest
regulation
cuts and we were able to do
more thank you
thank you so I think I'm understanding
inflation is only okay when a Republican
is responsible for it if Trump is
actually worried about the economic
ruination of America he might recognize
that the call is coming from inside the
House it is his policies that are
causing prices to rise and the economy
to falter and in fact when his own
administration is questioned on it they
perpetuate the myth that there's no
adverse impact from tariffs since the
whole cost is eaten by the exporters
there's a JP Morgan Chase report that
estimated the average American household
cost was $600 per year what do you say
to Americans who are watching right now
if the price of goods rise because of
these tariffs
let's remind everybody watching that
when we put on the steel and aluminum
tariffs in 2018 we did not have
inflation we had price stability and we
had prosperity prices did go up on some
goods though it they did go up on some
goods according to what I see right now
from Goldman Sachs betting furniture
equipment as far as I'm concerned
anything that comes out of Goldman Sachs
or some of these think tanks they have
an agenda I don't believe them but let
me just quickly tell you when when
tariffs come you have the price
adjustment by the exporters they have to
lower their prices in order to hold on
to the market share you have the
currency adjustments that play take
place as part of the market adjustment
but also go through currency
manipulation by the governments how
about that whenever any facts strike
this administration as inconvenient they
get to just pretend that they don't
exist peter Navarro doesn't like what JP
Morgan has to say and just like that JP
Morgan is no longer a valid source lucky
huh but even Trump can't escape reality
sometimes he took to Choose Social a
couple of weeks back and wrote "Walmart
should stop trying to blame tariffs as
the reason for raising prices throughout
the chain walmart made billions of
dollars last year far more than expected
between Walmart and China they should as
I said eat the tariffs and not charge
valued customers anything i'll be
watching and so will your customers
which is super weird because I was told
by the ultimate authority on tariffs and
trade Donald J trump himself that
foreign countries pay tariffs that are
imposed by the US a tariff is a tax on a
foreign country that's the way it is
whether you like it or not a lot of
people like to say "Oh it's a tax on
us." No no no it's a tax on a foreign
country it's a tax on a country that's
ripping us off and stealing our
jobs and it's a tax that doesn't affect
our country and you could see hundreds
of billions of dollars of tariffs on
other countries also pretty unequivocal
and so armed with the apparent fact that
tariffs are attacks on foreign countries
why in the world would Walmart need to
quote eat the tariffs if they're not
being paid by Walmart or any American
company but rather by China or some
foreign country and the reality is and
always has been that foreign countries
do not pay tariffs importing companies
do which makes sense because we can't
make foreign countries pay us our IRS
doesn't impose taxes on another country
we don't have access to their treasury
all we can do is impose tariffs from the
goods coming from those countries into
ours but what happens is that American
companies pay the tariffs to gain
possession of the goods and then they
pass those costs onto their customers we
are the customers Americans in other
words tariffs on foreign countries are
in effect a tax paid by Americans period
and Trump's truth social post saying
that Walmart and China should eat the
tariffs is a direct admission that
American companies do pay the tariffs
why would Walmart need to eat anything
if as Trump has repeatedly claimed
China's the one paying they wouldn't so
look Trump will continue to step on his
own talking points he'll continue to
contradict himself he'll continue to lie
but the truth here is obvious his trade
war is a disaster they are making
everything more expensive and more
importantly he is not winning in any
sense of the word there are no countries
sprinting to the negotiating table
because they know what Wall Street
already knows that Taco Trump will
always chicken out because he has no
leverage he is economically illiterate
but too proud to admit it and so he
continues to barrel ahead with his
disastrous policies despite the fact
that we are now the only country in the
industrialized world with an economy
that is contracting so if Trump is
looking out for the guy responsible for
ushering in economic ruination he might
want to consult a mirror