The president threatened a bevy of new tariffs against foreign-made products Monday morning, rattling America’s industries for another among countless times.
In a post to Truth Social, Donald Trump announced he intended to impose a 100 percent tariff on films made outside of the country, blaming California Governor Gavin Newsom for what he perceived to be a “stolen” industry.
“Our movie making business has been stolen from the United States of America, by other Countries, just like stealing ‘candy from a baby,’” Trump wrote.
Hollywood did not react positively when Trump first aired the possibility of such a tariff in May. One industry insider told CNN at the time that it would “represent a virtually complete halt of production.”
“But in reality, he has no jurisdiction to do this and it’s too complex to enforce,” the insider said.
In a separate post Monday, Trump claimed he would be helping North Carolina—the so-called “furniture capital of the world”—by placing steep tariffs on companies selling foreign-made furniture.
“In order to make North Carolina, which has completely lost its furniture business to China, and other Countries, GREAT again, I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States,” Trump wrote. “Details to follow!!!”
He did not specify exactly how severe the new tariffs would be.
Monday’s threat is just the latest in a long line of whopping trade penalties imposed by the White House. Last week, the president unveiled a 100 percent tariff on branded drugs, a 25 percent tariff on heavy trucks, a 50 percent tariff on kitchen cabinets, and a 30 percent tariff on upholstered furniture.
In the end, it will be America that pays the price for Trump’s aggressive trade policies. Countless companies have already introduced price hikes on consumer goods to offset the cost of doing business under the president’s unconventional economic plan (practically every company outsources some component of its manufacturing or business in the current era of globalized trade).
Some of the companies that have already announced price spikes include Adidas, Nike, AutoZone, BestBuy, Columbia Sportswear, Ford, Macy’s, Nintendo, Proctor & Gamble, Walmart, Target, Shein, and Temu.
The post Trump Goes on Bonkers Spree With New Tariffs Threats appeared first on New Republic.
