Trump Tariff’s moved up to Feb. 3….Consumer Prices to Rise Immediately?

A White House official told reporters on Saturday that there would be no process for companies to get special exemptions from the tariffs and that they were set to go into effect on Tuesday. More strikingly, the official said that the executive orders contain a retaliation clause that would escalate American tariffs if Canada, Mexico or China try to impose their own tariffs on U.S. products in response.

Asked what the countries could do to have the tariffs removed, the official said the most important metric would be whether Americans continued to die from fentanyl, as well as how much fentanyl is recovered at the border….

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The tariffs will raise the cost of doing business with the United States’ three largest trading partners, and it could mark the beginning of an economically painful trade war. Canada, Mexico and China account for more than a third of U.S. imports, providing cars, medicine, shoes, timber, electronics, steel and many other products to American consumers. Mr. Trump and other White House officials have deflected the criticism that the tariffs will add to inflation.

The countries have also promised to answer Mr. Trump’s levies with tariffs of their own on U.S. exports. Canada has indicated it will tax Florida orange juice, Tennessee whiskey and Kentucky peanut butter. The decision to hit those products, at least initially, is strategic: They come from states with Republican Senators and with voters who elected Mr. Trump in 2024….

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Researchers at the Peterson Institute for International Economics in Washington estimate that a 25 percent tariff on all exports from Mexico and Canada would hit those countries the hardest, but would slow economic growth and accelerate inflation in all three countries.

Mr. Trump has not been persuaded by those arguments. He has long boasted of the value of tariffs as a way to generate revenue, boost U.S. manufacturing and cow foreign governments into action. Speaking to reporters from the Oval Office on Friday, Mr. Trump suggested this was just the beginning of his trade war.

The president said he would also “absolutely” impose tariffs on the European Union, saying that it had “treated us so terribly.” He added that the United States would eventually put tariffs on chips, oil and gas — “I think around the 18th of February,” he said — as well as later levies on steel, aluminum and copper….

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Update…

The Wall Street Journal’s editorial board published a punchy Saturday op-ed listing all the failed reasons for President Trump’s tariff plan, citing a declining trend in trade and manufacturing culpability following signed sanctions….

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Note….

American’s will only be able to stand by while this knucklehead could ruin our economy….

The stock Market will bleed green come Monday?