People ask, “If Trump is so bad, why do Trump supporters still like him?”
“Simple,” I replied. “The pain hasn’t arrived yet.”
To highlight my point, Jesse Pound (CNBC.com) wrote an interesting piece this past Monday. The economic impact of the tariffs imposed by the Trump administration will soon become apparent to everyday Americans and lead to a recession this summer (according to Apollo Global Management).
According to Apollo Global Management, the tariff to recession timeline is listed accordingly.
- April 2: Tariffs announced, containership departures from China to U.S. slowing
- Early-to-mid May: Containerships to U.S. ports come to a stop
- Mid-to-late May: Trucking demand comes to a halt, leading to empty shelves and lower sales for companies
- Late May to early June: Layoffs in trucking and retail industries
- Summer 2025: Recession
If Apollo Global Management is correct, it will be a heck of a 4th of July.