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Trump’s trade war with China has crippled farmers, consumers and now the tech industry: report

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A report by Bloomberg illustrates in hard cold numbers the devastating effect the trade policies of President Donald Trump have had on the national economy– stretching from the soybean fields of the midwest to Silicon Valley.

According to the report, Trump’s tariffs and threats of economic retribution against America’s trade partners have crippled the economy as prices have increased — ultimately hitting consumers in the pocketbook.

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While noting that China has also felt the economic pinch from Trump’s trade war, the report states that the U.S. is feeling an even larger impact.

“The U.S. was also sideswiped by the trade war. Taxing Chinese-made products raised prices for American consumers and factories alike. A pair of studies by trade economists put the losses to the U.S. economy in the tens of billions of dollars annually,” the report states, “And that doesn’t count the impact of Chinese retaliation.”

“Chinese tariffs hit American farmers hard, as the country halted most imports of soybeans from the U.S, “Bloomberg adds, noting, “Inventories piled up. U.S. agricultural exports, which had been growing exponentially, started to fall, and farm incomes declined. Desperate farmers appealed to Trump for help, and he responded with a wave of direct payments to farmers. But going on the government dole isn’t a sustainable business model, and a wave of farm bankruptcies has begun.”

According to the report, investors are is also seeing a dangerous trend linked to Trump in an industry where the U.S. is a world leader: technology.

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“The struggle to control the future of high technology is arguably even more important to the balance of economic power between the U.S. and China. And the U.S. may also be losing on this front as well,” the report states before making an ominous prediction.

“Export controls will hurt Chinese tech in the short term, but in the long term it could merely push China to accelerate its efforts to replicate and surpass U.S. technology,” the analysis concludes. “If China becomes a technological peer, its companies will begin to compete more directly with American ones, as Japanese companies did in the 1970s and 1980s.”

You can read more here along with accompanying graphs.

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New testimony adds 2 stunning — and previously unknown — details about the Ukraine extortion

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New testimony released Monday from the House Intelligence Committee’s investigation of the Ukraine scandal included at least two new stunning details about the quid pro quo scheme at the heart of the matter.

Overall, the transcripts for depositions of Catherine Croft and Christopher Anderson, who were advisers to U.S. envoy Kurt Volker, built on the story of that we already know: that President Donald Trump pushed a shadow foreign policy to pressure Ukraine into investigating his political opponents, a scheme that involved using his office and military aid as leverage over the country in opposition to the official policy.

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Trump blasted for his ‘Endorsement of Doom’ after Sean Spicer loses on ‘Dancing with the Stars’

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Team Trump had gone all in urging supporters to vote for former White House press secretary Sean Spicer on the game show "Dancing with the Stars."

Votes had been urged by RNC officials and Trump himself had urged his 66 million Twitter followers to vote for Spicer.

Despite the full heft of the Trump campaign, Spicer lost on Monday's show.

Trump deleted his failed tweet urging votes for Spicer -- and instead said it was a "great try" by his former advisor.

Looks like this endorsement was as successful as your last one!

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‘He’s misunderstood’: Nikki Haley tells Fox News how Trump is actually a really good listener

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Former Ambassador to the U.N. Nikki Haley defended President Donald Trump during a Monday appearance with Fox News personality Sean Hannity.

Hannity asked the former South Carolina governor if Trump was "misunderstood."

"I do think he’s misunderstood," Haley replied.

"I can tell you, from the first day to the last day that I worked for the president, he always listened, he was always conscious of hearing other voices, allowing people to debate out the issues, and then he made his decision," Haley claimed.

She argued that, "I saw a president that was very thoughtful, looked at all of the issues, made decisions, and it was a pleasure and honor to work with him."

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