President Donald Trump added insult to injury against American companies struggling because of his trade war by calling them “badly run and weak” on Friday morning.
Businesses across the country are being harmed by the trade war caused by Trump’s obsession with tariffs, and the pain is only getting worse, especially since Trump has escalated the trade war and is ordering American companies to leave China.
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The economic damage being caused by the tariffs has resulted in hundreds of companies, including Apple and Nike, signing on to a letter insisting that Trump end his trade war.
Thus far, farmers and manufacturers have both taken major hits, and it could take decades for them to recover.
But rather than try to help companies that have been harmed, Trump has chosen to deride them instead in his latest morning meltdown accusing the Federal Reserve of being the cause of the economic slowdown.
If the Fed would cut, we would have one of the biggest Stock Market increases in a long time. Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management…and who can really blame them for doing that? Excuses!
— Donald J. Trump (@realDonaldTrump) August 30, 2019
As usual, Trump offers no evidence of his claims, and certainly has no proof that the stock market would increase if the Federal Reserve cut interest rates, which would be a bad move anyway because cutting the rate now would eliminate a key tool the Fed uses during recessions to help spur economic growth. Cutting the rate now just doesn’t make sense, and could actually make a coming recession worse.
But Trump’s attacks on American companies that have been hurt by his trade policies appears to be an effort to blame them for their own woes, begging the question, where is the U.S. Chamber of Commerce? After all, it’s supposed to represent American businesses. Does it not have a problem with Trump insulting the companies it is supposed to be fighting for?
Trump is clearly desperately trying to blame anyone and everyone but himself for the economic disaster that is unfolding because of his tariffs. Now he’s just blaming the American people themselves, because it is Americans who run these companies, and it’s Americans who are being hurt.
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