As predicted, Trump’s failed tariff negotiations with China pushed the stock market steeply lower yesterday as the DJIA dropped more than 600 points. Many observers are now wondering if Trump is trying in earnest to strike a deal with China, or if he’s really aiming to keep the tariffs in place permanently. Why on Earth might he do that? Because in the fever-swamp mind of Donald Trump, large tariffs on Chinese imports will force Americans to make the same goods here and buy them from our fellow Americans. But the goods aren’t made here now because they would be prohibitively expensive to produce. So Trump is trying to thwart the free market and force Americans to spend significantly more money on goods they would otherwise be able to buy cheaply from China. It’s an insane and regressive stance, but Trump is nothing if not insane and regressive.
Also happening yesterday, the SCOTUS overturned a 40-year precedent in a 5-4 ruling. The case involved whether the states have sovereign immunity from lawsuits brought by other state courts. Here’s coverage from Robert Barnes in the Washington Post:
Legal experts were horrified by the ruling, noting that most of the Justices said in their confirmation hearings that they would respect existing court precedent, also known as stare decisis. But those assurances appear now to have been lies. And the lies open the door for future decisions that might overturn any number of precedents, including Roe v. Wade. Justice Stephen Breyer expressed this concern in his dissent from yesterday’s ruling:
“Today’s decision can only cause one to wonder which cases the Court will overrule next.”
Keep your eye on the news today as the merit of Trump’s suit to keep his accounting firm from heeding a subpoena from Congress to turn over Trump’s financial records will be ruled on by a judge. If the judge rules against Trump, as is expected, it may unleash a temper tantrum from Trump or his White House since the investigation of his finances seems to be Trump’s greatest fear.
The legal net is slowly ratcheting tighter around Trump. Keep resisting and working to “vote his ass out of office.”