U.S. shrimpers thanks Trump for tariffs

The reaction to Trump’s tariffs has been about as mixed as you can get.

While the media and Democrats are roasting Trump, some workers in various industries in this country are applauding the move, even going so far as to say that the tariffs could save their industry.

Trump Announces Sweeping Tariffs

Last week, Trump shook the global economy by introducing sweeping tariffs as a way to level the playing field.

Trump said they were imposing a 10% base tariff on imports, then working their way up from there, with some countries that have been hammering the United States seeing the heaviest tariffs.

Trump was adamant that this wall was all being done to stop Americans from being ripped off by other countries, stating, “Taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore.”

As I had stated last week; this was a bold move by Trump, pushing all the chips in the middle in a move he had to know was going to rock the stock market, but it could pay off huge dividends down the road in various ways.

Stock Market Plunge

Predictably, the stock market took a massive hit at the end of the week after the tariffs were announced.

People who were following this all along more than likely pulled their money out of the market and put it on the sidelines waiting for the stocks to hit the floor, and that could take some time.

Over two days, the market plunged by nearly 10%, dropping nearly 4,000 points in just two days. The S&P 500 dropped more than 9% during that same span.

This was the steepest decline we have seen since COVID and we are quickly seeing numbers reminiscent of 2007 and 2008, when the economy got obliterated. If the stocks fall again on Monday, the word “recession” will be in every pundit’s mouth.

Thank You

I have been warning people about this, but I have not been telling them to panic, as I think this will wind up being a great money-making opportunity on the other side of this. But, like I said, patience is easy to ask for and hard to have.

While investors are panicking, and people are worried about their retirement accounts, some industries are supporting the move by Trump, including the automobile and fishing industries.

The shrimp industry, in particular, has had a rough go over the last few years, and they are very much behind Trump’s tariffs. Leann Bosarge, the COO of Bosarge Boats, stated, "The U.S. domestic shrimp industry has been on a downward trajectory for decades now as a direct result of the unfair trade in the overseas aquaculture industry for growing shrimp overseas/ And these tariffs threw us a lifeline that we needed to hopefully live to fight another day in our industry in this country."

My regular readers know I have no problem calling out anyone when I think they are wrong, including Donald Trump, but I back this move. Granted, I have concerns, and I have been very clear about them, but even though we are going to have some pain initially, I think we are all going to be far better off on the other side of this. Hopefully, you pulled your money out of the market and are ready to pounce when the dust settles. And believe me, I will be right there with you.