Here’s How Badly Trump’s New Tariffs Threat Would Wreck the Economy

Donald Trump wants to slap tariffs on China, Mexico, and Canada on his first day in office, which would have devastating effects on supply chains and drive up costs on many companies that do business in the United States.

The president-elect made the announcement Monday on Truth Social, saying that he would institute a 25 percent tariff on goods from Canada and Mexico until drugs and migrants stopped arriving at the border.

“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” Trump posted. “Both Mexico and Canada have the absolute right and power to easily solve this long simmering problem. We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!”

In a separate post, Trump complained about China sending illegal drugs to the United States and threatened that country with a 10 percent tariff.

“​​I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States—But to no avail,” Trump posted. “Representatives of China told me that they would institute their maximum penalty, that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our Country, mostly through Mexico, at levels never seen before.”

The three countries are America’s biggest trading partners, and many industries rely on exporting goods to them in addition to imports. These include car companies, farmers, and food packagers. In all, Canada, Mexico, and China make up more than a third of all U.S. imports and exports, with millions of jobs depending on them. Last year, the three countries bought over $1 trillion of U.S. exports and the U.S. imported nearly $1.5 trillion of goods and services from them.

These tariffs, added to the costs of goods in the U.S., would cause prices to skyrocket as companies would pass their costs to the consumer. Other countries would likely retaliate with tariffs on American products, hurting industries stateside. By all accounts, his plan would cripple the economy, and it has been criticized by most economists. Companies would be far more likely to take their business elsewhere rather than pay tariffs or shell out the high cost of relocating their operations to U.S. soil.

Plus, the U.S. is currently part of a free-trade agreement with Canada and Mexico that Trump bragged about renegotiating during his first term. Tariffs would be a blatant violation of that agreement and also set off a trade war in North America. For a president who is riding a wave of economic dissatisfaction, however unjustified, into office, this will not bode well.

Donald Trump took to Truth Social in the early hours of Tuesday to go on a lengthy rant about Maggie Haberman, likely set off by a recent article in The New York Times on his weird relationship with aide Natalie Harp.

Will the failing New York Times apologize to its readers for getting years of “Trump” coverage so wrong. They write such phony “junk,” knowing full well how incorrect it is, only meaning to demean.” Magot Hagerman, a third rate writer and fourth rate intellect, writes story after story, always terrible, and yet I almost never speak to her. They do no fact checking, because facts don’t matter to them. I don’t believe I’ve had a legitimately good story in the NYT for years, AND YET I WON, IN RECORD FASHION, THE MOST CONSEQUENTIAL PRESIDENTIAL ELECTION IN DECADES. WHERE IS THE APOLOGY?

The article, published Monday, detailed Harp’s questionable proximity to Trump since his 2020 presidential campaign. Known as the “human printer” by the rest of the Trump team, Harp has “established herself at the center of a fast-moving carousel of text messages, articles and tidbits directed at Mr. Trump,” the Times reported, which is apparently worrisome to other aides “at a moment when Mr. Trump appears more contemptuous than ever of attempts to manage or control him.” Haberman goes on to describe her as an “instant enabler of [Trump’s] impulses.” For every Truth Social rant or mean tweet, Harp is there.

Harp also freaked out the rest of Trump’s inner circle with steamy handwritten messages, writing, “you’re all that matters to me.… I’ll never let you down.” She also wrote to him that she wanted to reclaim the “synergy” they had. “We’d talk about everything and nothing.… I want to bring you joy,” Harp wrote. “To feel like we can get through a day without ever having to talk ‘work.’” And it isn’t particularly one-sided either. The Times, which viewed the letters, reported that Trump apparently commented that Harp was the only member of his team that truly cared about him.

Harp first hit the scene in 2019, when she appeared on Fox News and started talking about how Trump saved her life by signing a law that gave her access to unspecified experimental drugs that helped treat her bone cancer. That launched her into a Republican National Convention speaking slot in 2020, and by 2022, she was a full-time aide to Trump.

Haberman’s article seems to have truly struck a nerve for the president-elect. He might be waiting on that apology for a while though.

MAGA loyalists are getting frustrated with some of their fearless leader’s own Cabinet picks.

President-elect Donald Trump announced in a statement on Truth Social Friday that he’d be nominating physician and Fox News medical correspondent Dr. Janette Nesheiwat to surgeon general. 

“Dr. Nesheiwat is a fierce advocate and strong communicator for preventive medicine and public health,” the statement read. “She is committed to ensuring that Americans have access to affordable, quality healthcare.” 

Nesheiwat has always been a staunch advocate for vaccines, even as a regular on Fox News. The selection has angered many Trump supporters, as they see Nesheiwat as an insufficiently extremist candidate for the position.

“We don’t need another Fauci!” one dejected Truth Social user wrote in the replies to Trump’s statement. “We need to know the truth about everything that happened during the plandemic! And we the people need full accountability for the millions that were killed or harmed around the world because of this poison jab!”  

“Dear President Trump, many of us … MANY of us are very disheartened and upset about this pick,” another reply read. “This doctor has been a major advocate for pushing Covid vaccines upon people which are being proven cause much harm. She also was a big advocate of masking and other terrible Covid policies please don’t let this happen! @rfkjramericans.”  

It isn’t just Nesheiwat drawing the ire of online MAGA. Even Pam Bondi, one of Trump’s former impeachment attorneys nominated to replace Matt Gaetz as attorney general, isn’t satisfying the right-wing faithful. 

“PLEASE change Pam Bondi your new attorney general she is super anti-gun she has a horrible history being anti-gun that’s all she focuses on RINO and there’s a bunch of compromised pictures of her and BAD history, there’s have to be someone else this is very depressing!!!” one Truth Social user rambled. 

“We cannot have an anti second amendment attorney general. Trump please do not put this communist in office,” wrote another. 

It seems that Trump supporters won’t accept any Cabinet candidate who isn’t some right-wing zealot.

After special counsel Jack Smith moved to dismiss his case against Donald Trump for attempting to overturn the 2020 election Monday, Trump decided to gloat on X and attack everyone who tried to prosecute him.

Trump made a rare post on his old stomping ground late Monday afternoon blasting Democrats and prosecutors, specifically naming Fulton County District Attorney Fani Willis, former Fulton County prosecutor Nathan Wade, New York state Attorney General Letitia James, and Manhattan District Attorney Alvin Bragg. He called every case against him “a political hijacking, and a low point in the History of our Country that such a thing could have happened, and yet, I persevered, against all odds, and WON. MAKE AMERICA GREAT AGAIN!”

At least while he’s president, Trump no longer has to worry about facing any charges for his role in the January 6, 2021 Capitol insurrection or mishandling classified documents. His sentence for his felony conviction in his hush-money case has been indefinitely canceled, and his Georgia election interference case was already in limbo.

But now that he’s in the clear, Trump wants revenge. His attacks have an ominous tone, as he repeatedly made threats to take retribution against his enemies while campaigning for his second term as president. He’s promised to take on the “enemy within,” meaning Democrats who have opposed him, and he just put James, Willis, and Bragg firmly in his crosshairs.

Trump will have plenty of help from right-wing foot soldiers in the Justice Department, led by his new handpicked attorney general nominee, Pam Bondi. She already has a record of helping the president-elect with whatever he wants, whether it’s serving as his lawyer during his impeachment or opting not to press charges against his phony university while she was Florida attorney general in exchange for (illegal) campaign donations.

Bondi and the right-wing legal establishment probably will not have any qualms going after whoever Trump has a grudge against, even if they are elected officials and prosecutors. The question is whether any laws or courts will be enough to withstand Trump’s desire for revenge.

Lawyers for Donald Trump investigated allegations of noncriminal influence peddling against one of the president-elect’s top aides, Boris Epshteyn, according to a CNN report published Monday.

Per CNN, the internal review examined “multiple instances of Epshteyn allegedly requesting payment in exchange for promoting candidates for administration positions or offering to connect individuals with people in the upcoming administration relevant to their industry.”

Semafor reported on the inquiry as well, describing it as “closely held and … ongoing, with no findings to date.”

In one alleged instance, Epshteyn requested as much as $100,000 a month for his services, which he has at times attempted “to sell as a type of consulting.” In another, he reportedly suggested that Scott Bessent, whom Trump nominated for treasury secretary on Friday, “pay him to promote his name with Trump and others at Mar-a-Lago”—a proposal that Bessent declined.

“The way I see it is it’s very much a pay-for-play,” a source who had spoken to the investigating team told CNN. The source recounted another instance in which Epshteyn allegedly sought payment for “questionable consulting services”—that is, arranging to connect someone “with incoming administration officials relevant to their industry or lobbying firms that will be the most well-connected to the new administration.”

CNN cited “half a dozen sources” who confirmed the internal investigation. Internal investigators initially recommended that Epshteyn “be removed from Trump’s proximity and that he should not be employed or paid by Trump entities”—which the Trump team seems unlikely to act on at present, according to CNN.

In a statement to CNN, Epshteyn said, “These fake claims are false and defamatory and will not distract us from Making America Great Again.”