Ben Shapiro criticizes Trump's tariffs as a hidden tax, contributing to $11 trillion market losses.

From Yahoo Finance: 2025-04-10 06:32:00

Stock market turmoil has deepened, causing concern even among President Trump’s allies. Commentator Ben Shapiro criticizes Trump’s tariffs as a covert tax hike, echoing Kamala Harris’ past remarks. Economists confirm tariffs as import taxes, estimating an additional $1,200/year cost to American families. The S&P 500, Nasdaq-100, and Dow Jones have all experienced significant losses due to the tariffs.

Despite the tariffs being paused, Trump’s economic policies have led to a $11 trillion loss in U.S. stock market value since his inauguration. Polls show a decline in Trump’s approval rating and belief that tariffs hurt the U.S. economy. Trump escalates the trade war with China, imposing further tariffs if reciprocal tariffs are not withdrawn.

Consumers and investors should prepare for a prolonged global trade conflict. Budgets should account for rising costs if tariffs resume, while seeking refuge in assets like gold. Economic volatility is expected ahead, with no asset class or nation immune. Shapiro warns that trade wars are not easy to win without a clear plan.



Read more at Yahoo Finance: Ben Shapiro slams Trump’s tariffs as hidden tax amid $11 trillion stock market wipeout