Letter to the editor: Trump strangles the economy on purpose, Brunswick Beacon

Brunswick Beacon, 04.10.25

Last October, The Economist called America’s economy “The envy of the world,” concluding it “left other rich countries in the dust.” Then Trump launched what the Wall Street Journal called “the dumbest trade war in history.”

The Dow Jones, S&P 500 and Nasdaq stock indices hit record highs before Trump slapped tariffs on every country on Earth except Russia, Belarus, North Korea, and Cuba. Trump’s tariffs decimated retirement accounts, costing Americans a record $6.6 trillion, the worst two-day market loss in American history. Since Inauguration Day, Trump has erased $11.1 trillion of wealth. 

Republican senators Rand Paul, Mitch McConnell, Susan Collins and Lisa Murkowski voted with Democrats to reclaim the tariff powers Congress delegated to presidents. McConnell said, “Tariffs are bad policy, and hurt working people most.” Trump’s former VP Mike Pence said, “The Trump Tariff Tax is the largest peacetime tax hike in U.S. history and will cost American families over $3,500 per year.”

Trump’s speech announcing tariffs made no sense. He said tariffs will increase demand for American made products and create more jobs. And, he said, tariffs won’t raise prices, because foreign manufacturers will pay them, generating huge amounts of revenue. But tariffs only work if you pay more for imports. Otherwise, you would have no reason to switch to American-made products, and no new jobs would be created. On the other hand, if you DO switch, tariffs won’t generate much revenue because there will be fewer imports to tax.

Nigel Green, CEO of global financial advisor deVere Group, said, "This is how you sabotage the world's economic engine.” JP Morgan predicted a recession. The Economist called Trump’s speech “complete drivel,” questioned his “grip on reality,” and called him deluded. 

Proving them right, Trump posted “ONLY THE WEAK WILL FAIL” after sharing a video that says he’s “purposely crashing the market.” Trump might have lost his grip on reality, but he has our economy in a stranglehold.

Linda McConnell Baker

Leland