EXGOP Insider Says "Trump Is Wrecking The Economy" Another Insider "He is Crazy"
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| Trump Distracted by a reporter with Ex Canadian Prime Minister |
By Matt Arco | NJ Advance Media for NJ.com
Former Republican congressional staffer and Donald Trump critic Amanda Carpenter has some harsh words for the president.
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“He’s an out-of-control authoritarian enamored with the idea recklessly abusing any executive power he can get his hands on,” she posted to X.
“Trump is wrecking the economy because of the same reason he’s pardoning violent criminals, making “oopsies” deporting people to a foreign hellscape megaprison, sending gov’t investigators to censor Bad Speech he that he doesn’t like, and issuing EO’s to shakedown law firms,” she said. “It’s all by-the-book authoritarian executive power abuse. All of it. Explicitly contrary to a free, fair, and prosperous democratic society.”
It comes a day after Trump announced trade wars with foreign countries that have rattled Wall Street.
From The Wall Street Journal Thursday morning:
U.S. stocks tumbled at the open Thursday, with major indexes dropping as much as 4%, after President Trump’s sweeping new tariff plan was deeper and more aggressive than expected.
The impact reverberated through global markets. The dollar tumbled to its lowest level of the year. Popular stocks such as Apple, Amazon and Nike dropped anew in early trading Thursday, with Nike dropping 10% and the others declining in high single digits.
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s on nearly all U.S. trading partners — a 34% tax on imports from China and 20% on the European Union, among others — that threaten to dismantle much of the architecture of the global economy and trigger broader trade wars.
Trump said he was placing elevated tariff rates on dozens of nations that run meaningful trade surpluses with the U.S., while imposing a 10% baseline tax on imports from all countries in response to what he called an economic emergency.
The president, who said the tariffs were designed to boost domestic manufacturing, used aggressive rhetoric to describe a global trade system that the United States helped to build after World War II, saying “our country has been looted, pillaged, raped and plundered” by other nations.
The action amounts to a historic tax hike that could push the global order to a breaking point. It kickstarts what could be a painful transition for many Americans as middle-class essentials such as housing, autos and clothing are expected to become more costly, while disrupting the alliances built to ensure peace and economic stability.
JP Morgan chief economist Michael Feroli said in a note Trump’s tariffs could have a massive impact on U.S. and global markets, and that it amounts to the largest tax increase for Americans since 1968.
And on her claim that Trump and his administration have “shakedown law firms”:
Another major international firm reached a deal with Trump this month to dedicate at least $100 million in free legal services to causes such as supporting veterans and combating antisemitism.
The agreement makes Willkie Farr & Gallagher the third law firm in the last two weeks to cut a deal with the White House to avert sanctions from the U.S. government.
It was reached just two days after leaders at Willkie learned that the White House intended to issue a executive order against the firm, an action that could have carried “potentially grave consequences,” according to an internal email from the firm’s executive committee obtained by The Associated Press.
The resolution reflects the differing responses being taken by the legal community as Trump continues to target some of the world’s most elite law firms and extract concessions from them, such as the renunciation of diversity, equity and inclusion considerations in hiring and promotion decisions. Many of the firms that have been the subject of Trump’s executive orders are associated with lawyers who previously investigated him, either when he was president or between his terms in the White House.
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