"Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.
That’s a🚨$20B annual loss for the United States at $60/barrel."
-S Hakimian
When will the Republican oil barons, mega-farmers... call their Senators & Reps to demand that Trump be impeached?
Nasdaq drops 4% as tech sell-off accelerates:
Shares of Nvidia sank 10%, after the co said it'll post a $5.5B quarterly charge related to exporting its H20 graphics processing units to CN & other nations -US govt required a license to send chips from the US to CN.
We're not enamored with bankers or hedge fund bros, but if they can stop the economic hemorrhaging by convincing Trump to rescind the tariffs, we'll be relieved.
#Tariffs #Trumpcession #Resist #April19 #USPol
https://www.cnbc.com/2025/04/15/stock-market-today-live-updates.html
"This is one of China’s economic nuclear weapons, and it has already chosen to use it.
If an immediate de-escalation is not reached, and companies run out of existing inventory, a significant portion of the U.S. economy will effectively be shut down."
-S Hakimian
Republicans' sycophancy is mind-blowing. They're taking down the entire global economy.
#Tariffs #China #Economy #Trumpcession #Stagflation #Resist #April19 #USPol
US Customs & Border Protection told CNBC the department has collected >$500 million under Trump’s latest tariffs. Trump has repeatedly said the US is taking in $2B per day from tariffs.
CBP says the average $250M a day was collected even during the glitch that impacted freight already on the water.
Someone at CBP will likely get fired, they're not lying for Trump.
#Tariffs #Trumpcession #Lies #USPol https://www.cnbc.com/2025/04/16/us-customs-tariffs-revenue-generated-since-april-5.html
The WTO warned on Wed that the outlook for global trade has deteriorated sharply due to a surge in #tariffs & trade policy uncertainty." Based on the tariffs -in place, +90-day suspension of “recip tariffs,” the volume of world merchandise trade is now expected to⬇️by 0.2% in 2025 -anticipated to be particularly steep in N America -exports: forecasted to⬇️by 12.6% this yr.
Rs continue to enable Trump's destructive agenda -affecting the global #economy.
#Trumpcession #USPol https://www.cnbc.com/2025/04/16/global-trade-outlook-for-2025-has-deteriorated-sharply-wto-warns.html
“I can see how some #tariffs might help us compete with #Mexico but are we really getting targeted by every other country or are we on the wrong side of this? We’ve already had two years of absolute disaster with falling prices & weather patterns … no farmer wants this but without a #bailout this could be devastating & a lot more people could go under,” Johnson said.
RGV #farmers sell sorghum, wheat, corn & vegetables to #Mexico among other crops, while buying fertilizer & equipment – & relying on Mexican farmhands for cheap #labor. Mexico is the US’s largest #trading partner, while #China is the main buyer of American sorghum & cotton. All US products destined for China face a 125% tax thanks to #Trump’s #tariff war, & could cut farmers off from core #markets.
#Trump #tariffs #TradeWar #bailout #economy #recession #trumpcession
Small- & medium-sized farms were already struggling amid worsening #climate shocks & volatile commodities #markets, on top of being squeezed by large #corporations that dominate the #SupplyChain.
In recent weeks, #farmers in Texas & across the midwest have suffered millions of dollars of crop losses due to unprecedented heavy rainfall & #flooding.
#Trump #tariffs #TradeWar #farmers #bailout #economy #recession #trumpcession
‘Shock to the system’: #farmers hit by #Trump’s #tariffs & cuts say they need another #bailout
With #ExtremeWeather & Trump’s #TradeWar, US farmers are reeling & resigned to needing more cash help
Farmers across the #UnitedStates say they could face financial ruin – unless there is a huge #taxpayer funded bail out to compensate for losses generated by Trump’s sweeping cuts & chaotic tariffs.
#economy #recession #trumpcession
https://www.theguardian.com/us-news/2025/apr/15/farmers-trump-tariffs-bailout-extreme-weather
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