The Official President Trump Thread - Second Term Edition

What is the point of airing or anybody watching a deranged individual spew baseless lies that have nothing to do with anything right now.

 

Dum and Dumer (cause most people don't know about the "b"....shhhh)

 

The funny thing is they can't even get their propaganda right...

 

Damn. Trump had china helping him and he still lost.

 

So the drop in inflation that trump has been touting for the last few days was mostly caused by companies using the tariff refunds to keep the costs down.

https://www.yahoo.com/finance/economy/policy/articles/u-companies-finally-gotten-71-070000840.html


U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

The U.S. Customs and Border Protection issued $49.2 billion in refunds in June, according to the U.S. Treasury's monthly statement, bringing total tariff refunds to about $71 billion, or more than 60% of the $166 billion available following the Supreme Court striking down tariffs under the International Emergency Economic Powers Act (IEEPA) in February.
We do expect some more pressure on the business from a commodity standpoint," PepsiCo Chief Financial Officer Steve Schmitt said in the company's earnings call last week. "We will be using the tariff, essentially the refunds, to help offset some commodity inflation that we're seeing and allow us to continue to play offense in the business."

Marcos Gabriel, CFO of spice brand McCormick & Company, noted during an earnings presentation last month that its $31 million in tariff refunds will counterbalance higher costs. The company raised prices twice in the last year as a result of tariffs and limited freight capacity.

"I think it's important to note that the Middle East conflict is really driving more inflation that we had not contemplated before…so we are going to use the majority of the tariff refund to offset these higher costs," Gabriel said.

Bank of America Securities analyst Steve Juneau predicted in a May 20 note to clients that oil and gas costs would remain stubbornly high, leaving tariff rebates as a way to extinguish higher freight costs.
"Importers that receive refunds will likely use the money to offset rising energy and shipping costs," he said. "They may also offer some type of consumer relief, which surveys suggest is more likely to come in the form of slower price hikes rather than a direct benefit to consumers. Therefore, the refunds could be a modest disinflationary force ahead of midterms."