President Donald Trump on Friday appeared to accuse companies of falsely claiming that they’ve been hurt by his escalating trade war with China, instead saying they’re mismanaging their businesses.
“If the Fed would cut, we would have one of the biggest Stock Market increases in a long time. Badly run and weak companies are smartly blaming these small Tariffs instead of themselves for bad management…and who can really blame them for doing that? Excuses!” Trump wrote on Twitter Friday.
Trump’s comments come just days before the U.S. is set to impose new tariffs on China in two rounds, with the first due to start on Sept. 1. The 10 percent tariff on approximately $112 billion of Chinese goods would likely raise prices for consumer items like electronics and shoes.
In one example of corporate America complaining about Trump’s trade war, the Footwear Distributors and Retailers of America wrote a letter to the president this week stating that the planned tariffs would drive up costs for consumers.
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President Trump suggests that companies claiming they've been hurt by his escalating trade war with China are mismanaging their businesses https://t.co/0oxsn5HMk4
— POLITICO (@politico) August 31, 2019
Pfft. Bad management. Sad! https://t.co/tAjNfC5RRX
— Jay Caruso (@JayCaruso) August 31, 2019The vice president of the North Dakota Farmer's Union, Bob Kuylen, says he lost $400,000 because of Trump's trade war with China. Kuylen says farmers have "pretty much lost all of our markets since Trump took over." https://t.co/jamqfKbQ0H
— Kyle Griffin (@kylegriffin1) August 31, 2019
Oh, of course, it’s the fault of these farmers and companies if they are being hit hard by Trump’s trade war stunt. Can’t possibly be because the trade war is devastating to the US economy and Trump is wrong for waging it in the first place.
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