When an important policy is implemented, the market will react. Trump's tariff policy caused the US stock market to plummet for two consecutive days, losing about $640 million (nearly 50 trillion Hong Kong dollars) in market value. Federal Reserve Chairman Powell publicly admitted that the tariff shock exceeded expectations, and Paul Krugman, winner of the 2008 Nobel Prize in Economics, a well-known expert on international trade theory, even bluntly said that Trump was crazy. He pointed out that his tariff policy is not only a mistake in economic logic, but also likely to trigger a global trade war and cause far-reaching damage to the US and world economies.
Many people have pointed out that Trump's tariffs are similar to the tariff laws passed by the United States in 1930. The 1930 Act, which was notorious in the United States, was introduced in response to the Great Depression, but it caused an even greater economic crisis, a sharp contraction of American international trade, and an even worse Great Depression in the world.
There are two major differences between Trump's global tariff campaign and the 1930 tariff laws. First, the 1930 Tariff Act was a protectionist policy, raising tariffs on more than 20,000 imports, while Trump imposed so-called "reciprocal tariffs" on the world's trade rivals, regardless of what goods they had. Second, the Tariff Act of 1930 was passed by Congress; Trump, however, is on his own, Congress has no role at all, and Trump is doing whatever he wants.
Seeing Trump lightly holding a piece of cardboard at a press conference in the Rose Garden of the White House, saying that tariffs would be imposed on this country by 34% and tariffs on that country by 49%, many people sweated on their foreheads and couldn't help but worry about the return of the Great Depression.
Trump stressed that the tariffs are "reciprocal tariffs”, and he will impose the tariffs on imports into the United States the same level as the other countries impose on goods imported from the United States. However, the comments seen on the internet all believe that the data does not reflect the facts. Krugman bluntly said that the tariff data cited by Trump was grossly inaccurate. For example, he said, Trump claims that the European Union imposes 39 percent tariffs on American goods, but the actual average tax rate is only 1.7 percent. In addition, China's tariffs are exaggerated at 67 percent, but WTO data show an average tax rate of only 4.9 percent in 2024.
A financial reporter in the United States also found that Trump's tariff calculation was wrong. There is a free trade agreement between the United States and South Korea, but why is South Korea's tariff rate calculated at 50%? Naturally, he also noticed that the EU did not impose a 39% tariff on the United States at all, where did this figure come from?
Ocean
** The blog article is the sole responsibility of the author and does not represent the position of our company. **
WASHINGTON (AP) — Brayden Schenn played his 1,000th regular-season NHL game when he and the St. Louis Blues beat the Washington Capitals 5-2 on Thursday night.
Older brother Luke played his 1,000th game Oct. 17 with the Nashville Predators. The Schenns are the eighth set of brothers to each reach that milestone and the first to do so in the same season.
“I’ve always said you don’t get there without the help of tons of people,” Brayden said after his team's morning skate. “Family being one and coaches and players and teammates and people in the organization. Obviously, you have to embrace the day-to-day grind of the ups and downs and just how hard this league is, but, yeah, pretty special that we have best buddies that push each other every day and get to do it in the same year.”
Blues players are celebrating the occasion with Schenn shirts and hats with the captain's No. 10 on it. Father Jeff gave a pregame speech in the locker room after coach Jim Montgomery said, “Schenner and his bro both getting 1,000 games in the same season is a tribute to the great family raised by Jeff and his wife.”
Jeff Schenn said Brayden was his favorite player on the Blues and tied for his favorite overall, of course, with Luke.
“Honored and privileged and very proud to be part of the big day and the big journey that goes along with it,” their dad said. "You see the hard work and the dedication and the bumps and the bruises and everything you guys put into it. ... Just so excited and happy to be here and awful proud of him.”
Montgomery said after the win that Jeff Schenn looked very comfortable speaking in front of the group.
“Jeff and his wife, Brayden’s parents, they raised four great kids and two have played 1,000 games in the NHL,” Montgomery said. "His message was well-received, and you could tell by our start that we wanted to play for our captain.”
Dylan Holloway, who scored twice, said because it was Schenn's 1,000th game the Blues “wanted this one bad.”
The Capitals acknowledged the milestone with a message on arena video boards and an announcement during the first period.
Brayden getting to 1,000 comes amid talk ahead of the March 7 trade deadline that teams are interested in acquiring both of them in separate moves. The Blues are on the fringe of the playoff race in the Western Conference, while the Predators are far out of contention.
“The times I’ve gotten traded, I didn’t expect to get traded, so you really never know,” Schenn said, adding he has loved his time with St. Louis. "It’s a business and that just comes with the flows of kind of where we’re positioned, five points out of the playoffs. But it’s the trade deadline, so some people make rumors. ... You just take it a day at a time and just focus on your game and play.”
Brayden, 33, has three years left on his contract at an annual salary cap hit of $6.5 million. Luke, 35, has one more season left after this one at $2.75 million.
The Schenn brothers have played together in the NHL before, spending 3 1/2 seasons with the Philadelphia Flyers from 2013-15. Brayden won the Stanley Cup with the Blues in 2019, then Luke back to back with the Tampa Bay Lightning in ‘20 and ’21.
AP NHL: https://apnews.com/hub/nhl
St. Louis Blues center Brayden Schenn (10) skates with the puck during the third period of an NHL hockey game against the Washington Capitals, Thursday, Feb. 27, 2025, in Washington. (AP Photo/Nick Wass)
St. Louis Blues goaltender Joel Hofer, back, celebrates with center Brayden Schenn (10) and defenseman Nick Leddy (4) after an NHL hockey game against the Washington Capitals, Thursday, Feb. 27, 2025, in Washington. (AP Photo/Nick Wass)
St. Louis Blues center Brayden Schenn (10) skates with the puck during the third period of an NHL hockey game against the Washington Capitals, Thursday, Feb. 27, 2025, in Washington. (AP Photo/Nick Wass)
FILE - Arizona Coyotes defenseman Luke Schenn (2) and St. Louis Blues center Brayden Schenn (10) in the first period during an NHL hockey game, March 31, 2018, in Glendale, Ariz. (AP Photo/Rick Scuteri, file)
FILE - Philadelphia Flyers Brayden Schenn, left, looks towards his brother Luke, right, who shouts out after getting an assist on Max Talbot's goal in the second period of an NHL hockey game with the Washington Capitals, Feb 27, 2013, in Philadelphia. (AP Photo/Tom Mihalek, file)
