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T he U.S. dollar dropped in value by about a tenth in the last few weeks. ‘You’ll either have to raise prices, or lower profits’. (fortune.com)

submitted 4 days ago by [email protected] to c/[email protected]

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The U.S. dollar dropped in value by about a tenth against a basket of currencies in the last few weeks, including against the euro, pound, Swiss franc, and yen.

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[–] [email protected] 20 points 4 days ago

Trump's 10% drop in the dollar, when combined with Trump's new 10% tariffs (and not even counting all his other special tariffs on dozens of countries), means that things are going to get at least 20% more expensive for Americans. Even if he dropped his 10% tariffs right now plus all his many other tariffs, things would still cost 10% more because of his mismanagement of the economy.

And remember, all of this is illegal. All tariffs are supposed to go thru congress. Presidents are not supposed to have the power to unilaterally impose gigantic Trump tax increases on Americans. The Smoot Hawley tariffs of 1930, which were smaller than Trump's tariffs and resulted in an unemployment rate of 23.6% two years later, were passed by congress and merely signed by President Herbert Hoover. Presidents are only allowed to impose unilateral tariffs during "emergencies". Treason Trump never even specified what the "emergency" was, let alone justified it.