Trump Says Kids May Just Have To Live With Fewer Toys Because Of His Tariffs | EUROtoday

WASHINGTON – President Donald Trump mentioned Wednesday that kids within the U.S. could must dwell with fewer toys if his commerce coverage leads to retailer cabinets going empty.

“Maybe the children will have two dolls instead of 30, and maybe the two dolls will cost a couple of bucks more than they would normally,” Trump mentioned throughout a Cabinet assembly on the White House when requested concerning the prospect of shops nationwide having empty cabinets on account of him ratcheting up tariffs on China.

U.S. companies already are canceling orders from China and suspending plans for expansions as they brace for the results of Trump’s commerce coverage. For weeks, the president has been crashing the worldwide economic system by imposing huge import taxes on varied nations, solely to abruptly alter or droop a few of them. Most nations have been hit with a ten% levy on merchandise, however Trump hit China — a significant buying and selling companion with the U.S. — with a whopping 145% tariff.

In 2024, the U.S. imported items from China totaling almost $439 billion.

Trump’s new tax on Chinese imports may result in important shortages for companies and customers. Online retailers like Temu final week introduced value hikes and now show “import charges” at checkout to let prospects see the results of tariffs. In some instances, Temu reportedly is displaying prices which are double the unique value.

In extra indicators of financial bother forward, the Bureau of Economic Analysis introduced Wednesday that the primary quarter of U.S. financial progress shrank at a 0.3% annual charge. The causes behind the drop are largely the Trump administration’s personal doing, as former HuffPost reporter Jonathan Nicholson spelled out on social media.

Republicans in Congress have struggled to defend Trump’s tariffs, figuring out full nicely they’ll operate as a tax on Americans however not desirous to say as a lot out of worry of angering the president. They’ve adopted the unusual message that, sure, costs are going to skyrocket in all places, however it’s short-term and shall be definitely worth the glory that tariffs will deliver.

During his Cabinet secretary assembly, Trump waved off individuals’s anxieties about an financial slowdown and nonsensically blamed any present and future financial situations on former President Joe Biden.

“This is Biden,” the president mentioned. “You can even say the next quarter is Biden.”