CELENTE: Trump's all about the bottom line
The U.S. president speaks out of all sides of his mouth, makes up what he wants, says what he wants and does what he wants
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Love Trump, hate Trump, believe him, don’t believe him, by his deeds you shall know him.
And on the believe him or not believe him line, by the undeniable facts of his tariff deeds, Donald Trump does not live up to his word.
Let’s go back to before he took office as President in January of this year.
He said he would put a 25 percent tariff on Mexico and Canada.
When he got into office, he changed his mind and said he would not put them on until February 1st… which he did. But three days later, he took them off.
The list goes on.
Go back to April 2nd when Trump announced his “Liberation Day” tariff scheme.
He said it was “one of the most important days in American history” and would be equal to “our declaration of economic independence.” He signed Executive Order 14257, which declared a “national emergency” to bring down America’s “large and persistent U.S. trade deficit.” President Trump also said he would impose an additional 50 percent duty on China imports and the U.S. tariff rate on Chinese imports would shoot up to 104 percent.
The next day, there was a $3.1 trillion U.S. equity market wipeout. But stocks suddenly spiked after Trump’s economic adviser, Kevin Hassett, said the White House was holding back on the latest tariff plan for 90 days.