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This past weekend, Trump left heads spinning by announcing that he supported the release of the Epstein Files. While seismic in its impact on the political discourse, it reveals only that America’s highest ranking pedophile pal read the writing on the wall: he could not stop this and he was in jeopardy of losing the disciples he’s had on lock for a decade. More notable, at least from a policy perspective, is Trump’s sudden, if quiet, about-face on the cornerstone of his (failed) economic philosophy. It was one of the most complete and humiliating surrenders in presidential history and it nearly got buried. But you know we’d never let that happen. Time to log on.
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Let’s start with what just happened. Trump rolled back a bunch of tariffs on everyday groceries after months of Americans watching their bills explode. Per CNBC, beef prices are up 18%. Chocolate is up 30%. And thanks to 75% purely retaliatory tariffs on Brazil, coffee has shot up 33% year over year as of July. Turns out Americans will tolerate a lot of shit, but they draw the line at their morning coffee.
This wasn’t some strategic pivot. This was panic. He also cut a “deal” with China to lower tariffs, extended exemptions that were about to expire, and suspended a bunch of retaliatory measures. All while insisting he’s winning. But look at what “winning” actually means: China tariffs went from 10% in February to 20% in March to 54% in April to a completely deranged 145% for one week, back down to 30% in June, now hovering around 47%. This isn’t a policy strategy, it’s a caged animal lashing out at the gold-leafed bars of his own making.
SCOTUS sees through it too. During arguments earlier this month, justices from both sides were basically like: you can’t just declare an emergency and tax everyone without Congress approving it. And Chief Justice Roberts stated the obvious that only Congress has the power to tax. That’s literally in the Constitution.
Trump’s legal team argued these tariffs address two “emergencies” — the trade deficit and fentanyl. So apparently “emergency” now just means “anything I want funding for but can’t get votes for.” By that standard, my credit card debt qualifies for FEMA assistance.
And this is far from the first time he’s had to backtrack. Remember when he rolled out his big reciprocal tariffs in April, watched the stock market crater for a week, then suspended the whole thing? He claimed people were getting “yippy” and “a little bit afraid.” That’s certainly one way to describe the free fall of an economy he shoved off the cliff. Those tariffs are now the biggest tax increase in more than 30 years costing average households an extra $1,200 this year.
What Trump once raved as the “greatest word in the English language” has become one of the largest burdens for millions of American families. Every time an actual democratic president like Brazil’s Lula da Silva gives Trump an itchy tariff finger, it’s you and I paying for it in our coffee, beef, chocolate, and nearly everything else we might buy daily.
SCOTUS will take months to issue a ruling on whether Trump’s tariffs are even legal. But Americans showed two Tuesdays ago that they are fed up, bruising Republicans in every race from coast-to-coast with 52% of Americans saying that the tariffs will wreck the economy. Even business groups, who usually love Republican economic policy (handouts), are warning that this constant chaos is undermining long-term investment and growth. That’s language they typically reserve for socialism (or at least what they pretend to think is socialism).
Trump’s economic philosophy didn’t gradually fail. It’s already collapsed, and he knows it. We’re now watching him rearrange the wreckage while insisting everything went according to plan. For Trump, “the greatest word in the English language” turned out to be one of the most costly.
And guess who’s stuck with the bill?
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