You know those tariffs that Trump has slapped on China? The tariffs he claims China is paying, when, IN FACT, American consumers are paying — you know, those tariffs.
Now, suddenly, Trump has delayed the tariffs. Why? If China is paying the tariffs, it seems as though he would want to continue seeing China put billions into our treasury as he wrongly claims is happening.
Some observers are now suggesting Trump’s tariffs are nothing but a scam to help himself and his wealthy friends. Here’s how it works.
- Trump announces plans for a tariff.
- The price of stocks affected by the proposed tariffs drops.
- Trump and his wealthy friends buy up the stocks.
- Trump backs off his tariffs, the value of the stocks rebound, Trump and his friends sell at a huge profit.
- Wash, rinse, repeat.