A weakening bond market forces Trump to make a partial retreat in his tariff war! High tariffs on China will continue and much more modest ones on other countries. Trump has demonstrated that he is an unreliable manager of the U.S. and global economy. For the first time, we see some fissures in his political coalition.
Part of the Trump coalition — the non MAGA part — is, not surprisingly, experiencing some buyer’s remorse.
To say the obvious — the victory in WS wasn’t simply a referendum on Musk.
Trump’s new tariff regime is throwing the national and global economy into a tailspin. His actions and the resulting reactions in the top circles of ruling class demonstrate that Marx and Engels’ observation, “The executive of the modern state is nothing but a committee for managing the common affairs of the whole bourgeoisie” requires some qualification and elaboration.
Turns out that the “rule of law,” to the surprise of some radicals, can be an inhibition, for now anyway, on the extra legal actions of the Trump administration. Such rulings should be welcomed by the coalition of people and organizations challenging Trump and the MAGA movement. The struggle against Trump and all will take many forms and express itself on many levels.