Hello Tariffs, My Friend—Trump’s Trade Weapon Delivers Early Results
Factories Are Roaring, Oil Prices Are Plunging, and Trade Partners Are Making Concessions.
tippinsights Editorial Board
April 4, 2025 . 6:46 AM 6 min read
Markets worldwide, and in the United States, took a tumble on Thursday, the first full day of trading following President Trump's tariff announcement. However, beneath the generally negative coverage in the media, there were numerous bright spots.
GM said it had decided to hire more temporary employees at its Ft. Wayne, Indiana, plant to expand production. The Rose Lawn gathering included several auto workers who cheered Trump in anticipation of better conditions for the auto industry in the coming months.
Over at OPEC, Reuters reported that eight OPEC+ countries "unexpectedly agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day in May, a decision that prompted oil prices to extend earlier sharp losses." All of them, except Russia, had been featured on Trump's tariff chart on Wednesday—and on top of a 4% drop, oil fell further to below $70 a barrel.
These developments happened within 24 hours of Trump's announcement. On Air Force One, the president indicated that countries and companies have been constantly calling the White House, hoping to make a deal. Trump said that the threat of tariffs is making them reconsider their positions.
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