Let's take a look at how Trump' tariffs will sink the entire American auto industry. Trump tariffs could prove nearly as harmful to U.S. auto market as Lehman collapse and COVID outbreak, warn S&P forecasters https://fortune.com/2025/04/15/trum...an-collapse-covid-outbreak-warns-forecasters/
This is just the beginning. Tariff Fallout Begins: Major Companies Slash Thousands of Jobs Citing Rising Trade Tensions https://www.barchart.com/story/news...housands-of-jobs-citing-rising-trade-tensions
Trump's tariffs will hurt the U.S. economy worse than other economies. US growth forecast to be hit hardest from tariffs, IMF says https://www.bbc.com/news/live/c4g2l654dket IMF cuts growth forecasts with US given biggest downgrade The International Monetary Fund (IMF) has cut its economic growth forecasts for 2025, saying an increase in tariffs and uncertainty will lead to a "significant slowdown". In its latest global outlook, the IMF predicts the global economy will grow by 2.8% this year, down from its previous forecast of 3.3%. The US has been given the biggest downgrade among advanced economies - growth there is now expected to be 1.8% this year, down from its previous estimate of 2.7%. And the UK’s growth forecast for 2025 has also been cut - down to 1.1% from the previous prediction of 1.6%
Inflation expectations remain at highest level since 1981 even after Trump's 90-day tariff pause https://finance.yahoo.com/news/infl...ter-trumps-90-day-tariff-pause-145855614.html
Trump can't give a straight answer -- and doesn't seem to care that your 401K is in the toilet. 3 ways Trump is answering (or dodging) questions on his historically bad 100-day stock market https://finance.yahoo.com/news/3-wa...cally-bad-100-day-stock-market-080044131.html
The start of the recession. US economy contracts at 0.3% rate in Q1, first GDP pullback in 3 years https://finance.yahoo.com/news/us-e...-first-gdp-pullback-in-3-years-123544859.html
When the US becomes self sufficient and stops trading with the rest of the world, how will that affect GDP?
Well the last time the U.S. effectively did that via raised tariffs was in the early 1930s.... why don't we look at the historical record and see how that worked out.
GDP would drop due to lower overall business activity. Combined with the expected new unemployment, that will reduce government revenues and I doubt the tariffs will make up for it. Now if one looks deeper, there is no transition plan which means industries like US auto makers could suffer irreparable damage and just go out of business unless taxpayers subsidize them. They certainly can't afford new factories unless again the govt heavily subsidizes them. The oil drillers can't start new projects unless the govt subsidizes them. The farmers can't stay in business unless the govt heavily subsidizes them. See the pattern here ? There is no upside to any of this other than an opportunity for countries outside of the US to reduce their overall trade with the US an unreliable country.
Well we've seen posters like "volpri" in here try to pretend that tariffs have a strong historical record. It's a really dumb theory, but they are passionate about it.