Trump’s reverse Midas touch is taking hold:
Trump’s escalating trade war has spooked business executives. There’s already been a noticeable decline in business investment as corporate leaders say Trump’s tariffs and unpredictability are creating too much uncertainty, dissuading them from spending large sums on new buildings or equipment. Now there are early signs that business leaders are beginning to pull back on hiring, too.
The United States had 7.3 million job openings in June, down from a peak of 7.6 million in November, according to the latest Labor Department data. While the decline is modest, economists are concerned hiring could dry up quickly as companies see no end in sight to Trump’s trade war and they look to cut costs. The reduction in job openings is also widespread across many different industries, signaling how cautious companies are becoming.
And his Ag Secretary Sonny Perdue is handling it well:
“I had a farmer tell me this in Pennsylvania,” Perdue said at a farm show in Minnesota last Wednesday, according to Agri-Pulse. “He said, ‘What do you call two farmers in a basement?’ I said ‘I don’t know, what do you call them?'”
Perdue said the farmer said: “A whine cellar.”
There was laughter but boo’s came as some members of the crowd did not find Perdue’s joke funny, just two days after China declared it would no longer buy any American agricultural products to hit back at Trump for imposing an additional 10 percent tariff on Chinese goods.
Trump’s tariffs on China have led to farmers filing bankruptcy at never-before-seen rates.
Minnesota Corn Growers Association President Brian Thalmann said farm producers are not “starting to do great again” and that “things are going downhill very quickly.”
The rural parts of Minnesota are pretty red – hopefully Trump fucking up their livelihoods in an ill-considered pissing match with China will make a few former Trumpers out of farmers.