World Wakes Up to Tariffs
President Donald Trump announced his tariff plan yesterday: Countries will face a range of tariffs, from 10 to 40 percent. The United Kingdom, Australia, Singapore and Brazil get off lightly, with just a 10 percent tariff. The European Union faces tariffs of 20 percent; Japan, 24 percent; South Korea, 25 percent; and China, 34 percent. Canada didn’t appear on President Trump’s chart. The standard 10 percent tariff will enter force April 5, with the higher rate going into effect on April 9.
Britain’s FTSE 100 stock market index was down 1.7 percent today. Germany’s DAX index is down 2.2 percent. Japan’s Nikkei finished the day 3.3 percent down. Sony’s share price lost 5.6 percent; Toyota’s, 6.3 percent. The dollar is down against the euro, Japanese yen and pound. Germany, with its dependence on exports, is particularly worried. Carsten Brzeski at the Dutch Bank ING said, “The 1930s are back.”
Other countries are still preparing their response, but the EU seems set to target American tech companies. They sell more to the U.S. than they import, meaning it’s hard for them to strike back on goods. However, the U.S. has the upper hand in services, especially in the tech sector, so this seems to be where the EU will hit back. Today the EU is holding its first-ever summit with Central Asian countries—and you can be sure they’ll talk about these tariffs and how to work together against them.
Canada announced part of its response last month, publishing a list of 6,200 U.S.-made items that will be tariffed. It’s taxing aluminum, tools and sports equipment. The list also contained some unusual items, including:
- Manatee meat
- False bears
- Live monkeys
- Church bells
- Flame throwers
- Accordions
- Traveling circuses
I didn’t know tariffs could be so entertaining—now I’m looking forward to seeing what the rest of the world targets.
President Trump rightly pointed out that many countries charge tariffs on the U.S. and take advantage of it in other ways. He claimed that his tariffs were worth only half the amount other countries were putting on America. He showed charts displaying “Tariffs charged to the U.S.A.” However, those numbers don’t seem to match any kind of tariff data. Instead, they seem to be based off America’s trade deficit. So these tariffs are much tougher than Americans have been told.
Will they be good or bad? Are they mostly a bargaining posture? Will jobs return to the U.S.? How long will it last? There’s a lot that is unclear. With tariffs the main item of conversation this morning, we’re keeping our evening brief from last night up as our main story. As it says, we can already see tariffs bringing the rest of the world together in exactly the way Bible prophecy forecast.
Is Elon Musk on the way out? Politico claims Mr. Trump has told his inner circle that Musk will soon be stepping back. “The president remains pleased with Musk and his Department of Government Efficiency initiative, but both men have decided in recent days that it will soon be time for Musk to return to his businesses and take on a supporting role, according to three Trump insiders who were granted anonymity to describe the evolving relationship,” Politico writes. Musk denies it entirely; we won’t have to wait too long to find out who is right.
Some are connecting this news with the Wisconsin Supreme Court race, where Musk’s preferred candidate lost by 10 percentage points. Is Donald Trump backing away from Musk because he fears the billionaire is unpopular? I hope not—watching from the UK, I’ve been very jealous of what Musk is doing. We desperately need a DOGE here.
“The U.S. is wasting its way straight into disaster!” we wrote in the latest Trumpet issue. “… Unless DOGE is successful in slashing spending, America will go bankrupt paying 2.3 million bureaucrats spread across 15 departments, 69 agencies and 383 nonmilitary subcommittees to micromanage their lives for them.” This is change America needs. America’s decline gets back to cause and effect. God preserved America and restored Donald Trump to power as an opportunity to repent—to act in ways that cause prosperity and blessings. But America has to take advantage of that opportunity and make those changes, otherwise the curses will worsen as we cause more problems.
France is threatening Iran with war: Its foreign minister said yesterday that if Iran didn’t agree to a new nuclear deal, then “military confrontation would seem to be almost inevitable.” France threatening war might seem rarer than imported manatee meat. But watch for Europe to take the lead in confronting Iran. Our booklet The King of the South is all about that epic clash and the vital role it plays in end-time events.
Hamas lied about its casualty figures, quietly removing the names of thousands it claimed Israel had killed, Honest Reporting told the Telegraph on Tuesday. Their analysis of the March casualty figures should surprise no one. Hamas has claimed that 70 percent of the casualties were women and children. Its latest update instead shows 72 percent were men ages 13 to 55. Our In Brief has more.
