IF YOU failed to spot America being “looted, pillaged, raped and plundered by nations near and far” or it being cruelly denied a “turn to prosper”, then congratulations: you have a firmer grip on reality than the president of the United States. It’s hard to know which is more unsettling: that the leader of the free world could spout complete drivel about its most successful and admired economy. Or the fact that on April 2nd, spurred on by his delusions, Donald Trump announced the biggest break in America’s trade policy in over a century—and committed the most profound, harmful and unnecessary economic error in the modern era.
Speaking in the Rose Garden of the White House, the president announced new “reciprocal” tariffs on almost all America’s trading partners. There will be levies of 34% on China, 27% on India, 24% on Japan and 20% on the European Union. Many small economies face swingeing rates; all targets face a tariff of at least 10%. Including existing duties, the total levy on China will now be 65%. Canada and Mexico were spared additional tariffs, and the new levies will not be added to industry-specific measures, such as a 25% tariff on cars, or a promised tariff on semiconductors. But America’s overall tariff rate will soar above its Depression-era level back to the 19th century.
From Barron’s:
“President Trump just finished his tariff speech at the White House, and we would characterize this slate of tariffs as ‘worse than the worst case scenario’ the Street was fearing,” wrote Wedbush analyst Dan Ives on Wednesday.
The Yale Budget Lab estimates the overall effective tariff rate on imports to the U.S. will be about 23%, almost 10 percentage points worse than it was expecting. Tariffs that high will cost the average household about $3,800 in higher prices.
Wasn’t ‘inflation’ the boogeyman Trump ran against?
Oh, ‘Something Just Broke’? You know about my Sondheim obsession:
If you’re running for Congress or considering running for Congress or know someone who is doing either, this message is for you. Presidents have no power over tariffs. Full stop. It’s not like war powers or pardons. Trump can only do this because Congress gave Presidents this power, as I explained in a post yesterday. Congress can take it back at any moment. Given the minuscule Republican hold in the House, that means that every GOP representative is literally and personally responsible for these tariffs and their consequences. Every single one. High prices? Rep. X is responsible. He or she could end this but they’re not. A 401k that might flatline before you do? Thank Rep. X. They could end this but they’re supporting it. It’s crystal clear and has the benefit of being true.
The 2026 midterm is already underway. It really is.
That’s the whole message. It’s malpractice for anyone challenging a Republican member of Congress not to be on this today.
Just like it’s malpractice for any D challenger here in Delaware not to hammer your opponent on their blind support for the Musk-pass legislation. Remember, your opponent’s photo side-by-side with Elon’s photo. That’s all you need. You can now choose not only from Nazi Salute Musk or Chainsaw Musk, but also…:
President Trump said this week that Iranian-backed Houthi militants in Yemen have been “decimated by the relentless strikes” that he ordered beginning on March 15.
But that’s not what Pentagon and military officials are privately telling Congress and allied countries.
In closed briefings in recent days, Pentagon officials have acknowledged that there has been only limited success in destroying the Houthis’ vast, largely underground arsenal of missiles, drones and launchers, according to congressional aides and allies.
The officials briefed on confidential damage assessments say the bombing is consistently heavier than strikes conducted by the Biden administration, and much bigger than what the Defense Department has publicly described.
But Houthi fighters, known for their resiliency, have reinforced many of their bunkers and other targeted sites, frustrating the Americans’ ability to disrupt the militia’s missile attacks against commercial ships in the Red Sea, according to three congressional and allied officials, speaking on the condition of anonymity to discuss operational matters.
In just three weeks, the Pentagon has used $200 million worth of munitions, in addition to the immense operational and personnel costs to deploy two aircraft carriers, additional B-2 bombers and fighter jets, as well as Patriot and THAAD air defenses to the Middle East, the officials said.
Senior senators introduced new bipartisan legislation on Thursday seeking to claw back some of Congress’s power over tariffs after Donald Trump unveiled sweeping new import taxes and rattled the global economy with sweeping new import taxes.
The Trade Review Act of 2025, co-sponsored by Senator Chuck Grassley, a top Republican lawmaker from Iowa, a state heavily reliant on farm exports, and Senator Maria Cantwell, a Democrat from Washington, whose state shares a border with Canada, would require the president to notify Congress of new tariffs, and provide a justification for the action and an analysis on the potential impact on US businesses and consumers.
For the tariff to remain in effect, Congress would need to approve a joint resolution within 60 days. If Congress failed to give its consent within that timeframe, all new tariffs on imports would expire. The legislation would also allow Congress to terminate tariffs at any time through a resolution of disapproval.
House Speaker Mike Johnson has already passed a gimmick to keep this legislation from being considered, should it pass the Senate. Those House Rethugs are now like those wounded birds that Dick Cheney and John Sigler loved to shoot. Time for any Democrat with gumption (might be the first time I’ve used that word) to put ’em out of their, and our, misery.
