Not sworn in yet as
the 47th president, trump
is already bragging about what he will do on
Day One of his presidency. The announcement of
his tariffs on three of this country’s loyal
trading partners sent shockwaves across the
globe. There are also jokes circulating about
this threat. There will be no laughing when
the impact of tariffs hits the bottom lines of
companies who then pass their financial misery
to stressed-out consumers.
There was a
call-out on social media for buyers to load up
on their Shein orders before the restrictions
take place. Shein is more than a popular
online fast fashion platform. The Chinese
company ballooned to dominate the e-commerce
industry and become the world's largest
fashion retailer. Shein and other Chinese
companies are not likely to take trump’s
actions lightly. Neither will the 20 European
countries whose economies will be disrupted
with a devalued euro. Global retaliation is
sure to follow trump’s short-sighted tactic.
On his first day in
office, trump has promised to slap Chinese
imports with a 10% levy. Mexico and Canada
will get a 25% punch in the gut. Prime
Minister Justin Trudeau tried to plead his
case by telling trump these stiff penalties
will kill Canada’s economy. The sociopathic
response by trump was to suggest Canada become
the U.S. 51st state.
According to trump,
the goal of these extra penalties is to
pressure the three governments to stop the
flood of illegal drugs and undocumented
immigrants from coming across colonial
borders. This is ludicrous if you understand
that it’s U.S. foreign policy (like NAFTA)
plus the U.S.’s insatiable appetite for drugs
which has created economic and social
instability in Mexico. The intolerable
conditions have created desperate citizens
escaping for their lives.
Speaking of
understanding the economy, trump hasn’t looked
around at the fragile economy on these shores.
The record number of retail stores closing
during the COVID pandemic is probably a
distant memory. The trend never really stopped
and over 6,000 businesses are expected to
close this year. High inflation rates and flat
wages are behind the disturbing trend that
neither presidential candidate spoke to during
their campaigns.
The number of
closings in 2024 will exceed the numbers from
last year. When we see national chains like
Red Lobster, Family Dollar, Best Buy and Big
Lots closing stores, we know that small and
local businesses don’t stand a chance.
It’s not just the
discount stores and fast-food places either.
Boeing Corporation is laying off 17,000
workers worldwide. It has been losing money
big time and the Machinists Union is on strike
to get their fair share of the billions it
creates for the company. Maybe Boeing’s CEO,
Dave Calhoun, will share some of his $33
million annual salary.
While businesses
are filing bankruptcy, re-organizing,
streamlining their markets, and diversifying
their goods and services, working families are
left with trying to make decisions in a
financial whirlwind. We already know that we
will carry the burden of the economy on our
bending backs. We always do.
The reaction by
consumers is predictable. With rising costs of
food, rent and gas, the first household cuts
will be going out to eat, recreation, and yes
even medical prescriptions. However, this also
means that families will go into debt trying
to meet these critical needs.
Given the cyclical
nature of the capitalist economy, consumers
should know where this is going and can brace
for impact. The thousands of closing stores
means tens of thousands of workers will be on
the street looking for jobs. Black families,
always at the bottom rung of the ladder of
economic mobility, will be kicked back down
into the river of despair.
The future
president knows little about market economy.
This time around, trump has learned how to be
a bigger bully, an adept dodger of laws, and a
master manipulator of capital. That’s his
limited wheelhouse. We are smarter than trump
and his crew; they’re better organized and
highly resourced.
Our salvation is in
organizing. Organizing inside of established
unions, organizing new unions, organizing in
the streets, organizing in the houses of
faith, organizing farmers, organizing
immigrants, organizing LGBTQIA+, organizing
anyone who understands what is at stake in
2025.
With each passing
day since the November election, we need to
become more defiant and more determined.
Ending this first term of trumps in our
mission. We will win.
