Trump Injects False Hope into Economic Chaos He Caused

May 12, 2025 (Not Published) 

Dear Editor,

The Trump administration continues to inject false hope into the stock market with announcements of "deals" to end the disruptive trade war it initiated with China. Time and again, these so-called agreements serve only to benefit market insiders while American consumers lose.

On Sunday, May 11, Treasury Secretary Scott Bessent announced a new deal with China—details forthcoming. As expected, the stock market reacted positively. However, by Monday, it became clear that this “deal” was nothing more than another 90-day pause on higher tariffs imposed since March, along with a reinstatement of the 30 percent so-called “Fentanyl Tariff” Trump had introduced earlier in the year.

This pattern is all too familiar. Consider the U.S.-China Phase One Trade Agreement of 2020 he negotiated. At the time, Trump touted it as a “sea change in international trade,” promising that China would purchase an additional $200 billion in U.S. goods. That promise never materialized.

Upon securing reelection in 2024, Trump wasted no time in launching yet another trade war—this time with the world at large and, once again, China. The fallout has been severe. Retirees have seen their savings eroded due to erratic market swings, businesses struggle with inventory and profit forecasts due to market uncertainty, and economists warn of looming stagflation and recession. Meanwhile, the weakening U.S. dollar has led other nations to seek alternatives, jeopardizing its longstanding status as the global currency of trade.

Trump has a well-documented history of grand proclamations that fail to deliver—factories that never get built, investments that evaporate, and trade agreements that do little to address economic imbalances. His legacy is one of broken promises and financial turmoil.

Americans must recognize the reality: Trump is not a skilled dealmaker, but rather a failed real estate salesman whose reckless business practices have left investors empty-handed time and time again. Unfortunately, as President, the consequences of his actions now extend beyond private financiers to retirees and business owners who are paying the price, while insiders profit from stock market volatility fueled by empty rhetoric.

It’s time for Americans to demand real, substantive leadership instead of illusionary deals designed to prop up the financial elite.

Sincerely,

Jim Powell