Likely within a week. He will claim China approached him begging to make a deal, whether or not China even bothered to call. He will then pick another fight, I believe with Mexico, whom he will threaten with war about fentanyl.
I agree with most of the posts. Trump really is as infantile as he seems. Reread Fire and Fury to see this clearly. Doubtless he resorted to cheats and bribes to even get his BS. He wallows in publicity, good or bad. The whole Tariff Fiasco is motivated mostly by the thrills. He does understand a little economics and, on the advice of some, is probably hoping to weaken the Dollar – that would help the trade balance, but at severe cost in the short- and medium-term.
As others point out, while recessions and financial crises are bad for ordinary people and bad for millionaires, they are big opportunities for billionaires. Privileged insiders are already making money on the chaos.
His policies will lead to inflation or recession or, probably, both. The FRB may try to raise interest rates as inflation hits, but expect Trump to then replace FRB Governors with toadies.
Among influential Republicans, some are ignorant, some are in awe, some are cowed into submission by death threats. Democrats are helpless. Congress’s refusal to act against this pompous and ignorant brat is a real tragedy.
Little Nemo has it right:
If he had a master plan it would be about enriching himself and his cronies. But I think he’s even too dumb for that – look at the petty grifts he resorts to when billions are there for the taking. But his cronies (Musk et al) are not so stupid. There are people profiting hugely from the chaos, and more such profiteering to come. DOGE’s actions were to deliberately sabotage the U.S. government and may succeed. A once-great country will never be the same again.
As a lawyer might say in court: assumes facts not in evidence.
Trump has shown no understanding whatsoever of economics (or foreign policy, or domestic policy, or much of anything else a politician should understand). For one thing, I think he still believes that foreigners pay the tariffs on goods imported into the U.S.
What Trump does understand is how to rile up his base with lies and misrepresentations.
P.S. I totally agree with your overall point, though.
I suspect the reasoning is something to do with lowering interest rates. This has long been a bugbear to him.
Sort of like how he thinks the Attorney General is his own personal attorney, I think he sees the Federal Reserve as sort of his personal bank. Specifically, they’re there to lower interest rates to help support his amazing plans (which mostly involve making him look good).
I don’t think he’s causing this chaos specifically to lower rates, I think it’s just his general MO of squeezing suppliers (other countries) to get better terms, assuming that he can fix any problems that arise by lowering interest rates.
So.. to 1596 and oligarchies like the heyday of Venice? I knew there had to be a reason for calling it DOGE…