To add to that, Trump is now angry that some companies (Walmart comes to mind) has stated that they will have to increase prices because the goods they buy are now 30% more expensive.
Trumps grasp of economics is so low that he has demanded that companies absorb (Trump speak was "eat") the extra costs. Retail is working off around a 10% margin and I can't see any company making a 20% loss on sales - CEO's would be voted out at their AGM's.
Mattel just announced that they would be cutting production in America from 20% to 15% - so no new production coming to America.
Trumps answer - "we'll put a 100% tariff on them" - I don't think he has grasped that Mattel is NOT a country.
Funny situation - China is rigorously seeking out new trade destinatios and Trump is equally active in destroying US efforts to trade.
As GY said - US is losing export dollars and that isn't helping to make America great again.
BIT Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
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