Already seeing the economic impacts of Trump's policy. People aren't showing up to work because they fear deportation meaning food is going unharvested and starting to rot. Factories are unable to run because of the same labour shortage.
Nasdaq had a huge drop, partially because of Chinese AI parity with the US but also partially because most of the large tech stocks rely on TSMC in Taiwan to manufacture their chips and Trump has announced a 100% tarrif. It's not simply a matter of building foundries in the US either, these things take years and cost billions to build (TSMC is building a 65 billion dollar facility in Arizona) and TSMC is multiple generations ahead of the competition in their node process.
Trump threatened tarrifs on Columbia but had to back down because of the projected cost increase in coffee and flowers (just before Valentine's day) so will be interesting if he backs down on chips.
We'll see what the impact on the freeze of benefits does, but no doubt it will cause huge economic issues as well as simply being cruel.
Nasdaq had a huge drop, partially because of Chinese AI parity with the US but also partially because most of the large tech stocks rely on TSMC in Taiwan to manufacture their chips and Trump has announced a 100% tarrif. It's not simply a matter of building foundries in the US either, these things take years and cost billions to build (TSMC is building a 65 billion dollar facility in Arizona) and TSMC is multiple generations ahead of the competition in their node process.
Trump threatened tarrifs on Columbia but had to back down because of the projected cost increase in coffee and flowers (just before Valentine's day) so will be interesting if he backs down on chips.
We'll see what the impact on the freeze of benefits does, but no doubt it will cause huge economic issues as well as simply being cruel.