markets

Thursday April 10, 2025

Trump's aggressive trade policies, particularly against China, create risks and uncertainties in an already fragile global economy.

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday April 10, 2025 (Also, Luremburger Wort)

The Risks of Trump’s Trade Policy in Today’s World

Trump's policies have redefined global trade dynamics, prompting allies like Canada to seek new economic opportunities beyond U.S. dependence.

April 5, 2025

In a world already facing challenges from economic recovery and international tensions, President Trump’s trade policies are adding more uncertainty and risk. His recent move to pause tariffs on some countries while sharply increasing them on China highlights a short-sighted strategy that could have long-lasting negative effects.

At a time when people are still recovering from the economic impacts of the pandemic, Trump’s reliance on tariffs to negotiate trade deals often makes everyday goods more expensive for American families. This isn’t just about protecting jobs; it’s about making life harder for those who are already struggling with rising costs.

Markets thrive on stability, but Trump’s unpredictable trade decisions create confusion and insecurity. While there may be some immediate benefits, like temporary stock market boosts, the constant changes can undermine long-term economic growth when the global economy is already on shaky ground.

News: Tracking Trump’s On-Again, Off-Again Tariffs and the Global Trade War

Trump's vision of a manufacturing renaissance risks creating a mirage of prosperity, as low-skilled jobs return amidst automation, isolating the U.S. from global trade benefits.

April 4, 2025

Taking a tough stance on China with such high tariffs might seem strong, but it risks sparking a trade war that can hurt both countries and strain relationships with other trading partners. Instead of leading, the U.S. under Trump’s policies is encouraging other countries to find new partners and solutions that don’t rely on American markets.

Trump’s approach also ignores how interconnected our world is. Trade isn’t a win-lose situation; it’s about cooperation and mutual benefit. By treating it like a competition where only one side can succeed, Trump fosters unnecessary conflict and retaliation, which only harms everyone involved.

In short, Trump’s trade policies are not just misguided—they’re risky for the U.S. and the world. As we face ongoing global challenges, it’s crucial to work collaboratively and focus on building strong, reliable trade relationships. The stakes are too high to keep moving in a direction filled with uncertainty and potential conflict. The global community and American citizens deserve a more stable and cooperative approach.

A humiliating U-Turn for Trump, and he has no clue

It’s been quite the rollercoaster ride with Trump’s trade moves, hasn’t it? The “America First” idea sounded like a bold step, but it’s turned into a chaotic spectacle, wiping out trillions from the global economy and leaving everyone in a state of panic. His sudden U-turn is like watching a reality show where the plot twists are as predictable as they are bewildering.

Trust in Trump? According to his world view, the global trade system—the very one the U.S. has nurtured for decades—has, according to the President, somehow morphed into a corrupt scheme designed to rip off America. It’s like he’s convinced the world is full of scoundrels, with nations just waiting to take advantage of the U.S. His slights against individual countries, like calling Canada nasty or suggesting it and Greenland should be part of the U.S., come across as bizarre and out of touch.

It’s as if he believes that many of these countries owe their existence to the U.S. and its generosity, which just adds another layer to this perplexing narrative. And yet, here we are, not even 100 days into his presidency, and we’re already dealing with the fallout of a spectacular and escalating trade war with China. The consequences could reach far beyond trade, potentially destabilizing things even more.

It’s hard not to feel like we’re all just holding on because of one man’s lunacy, hoping for some stability to return. Fun Fact! As of April 10, 2025, it’s been 3,585 days since Donald Trump announced his candidacy for the presidency on that memorable escalator ride on June 16, 2015. Not a day has gone by without a single moment without Trump. Time flies, doesn’t it?

Check out my making-of animated editorial cartoon for April 10, 2025, below! If you haven’t yet, please subscribe to my Substack newsletter, where I share weekly editorial cartoons every Saturday morning. Substack is a crucial platform for me amidst the uncertainties of being a staff cartoonist, especially given recent layoffs and newspaper closures affecting our field. As long as I hold my position, subscriptions will remain free. Thank you for your support! This “note” helps craft my weekly posts and showcases animated versions of my cartoons. Enjoy!

Trump Tariff Backfire | April 10, 2025:  https://youtu.be/PM8a_nvaDcM

– The Graeme Gallery

Read on Substack

Wednesday August 26, 2015

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Wednesday August 26, 2015 Fiscal plans take centre stage after markets turmoil As global stock markets plunged on Monday, Conservative Leader Stephen Harper urged voters to stick with his party's fiscal plan, while NDP Leader Tom Mulcair and Liberal Leader Justin Trudeau said a change in government would boost the economy. The S&P/TSX composite ended the day down 421 points while the Dow Jones industrial average lost 588 points. The loonie closed at its lowest level since August 2004, hitting 75.4 cents U.S. Speaking in Quebec, Harper acknowledged that Canada is facing "economic challenges," but pointed to the Conservative record of investing in innovation, infrastructure, immigration, training, and trade to create economic growth. "We're making investments in the things that will get us through this, and position us well for the long term," he said. He also highlighted Canada's "disciplined" financial framework, including a strong banking system, a balanced budget, and low taxes. By contrast, Harper said, the NDP and Liberal Party are proposing large-scale permanent spending increases, which they would finance through deficits and tax increases. "We think that is clearly the wrong track. It would be clearly damaging both in the short term and the longer term in this country," he said. "Given the challenges around us, we need to stick with a long-term plan that has been working and will work." HarperÕs office released a short statement Monday stating that he had spoken on the phone in the morning with Bank of Canada Governor Stephen Poloz. "Prime Minister Harper and Governor Poloz discussed the recent decline in global stock markets and commodity prices, slowing growth in China and emerging markets and the potential impacts on Canada's economy,Ó the statement read. (Source: CTV News) Canada, China, oil, dependence, reliance, diversification, economy, dragon, markets, stocks, Alberta, advice,

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Wednesday August 26, 2015

Fiscal plans take centre stage after markets turmoil

As global stock markets plunged on Monday, Conservative Leader Stephen Harper urged voters to stick with his party’s fiscal plan, while NDP Leader Tom Mulcair and Liberal Leader Justin Trudeau said a change in government would boost the economy.

2011-2015

2011-2015

The S&P/TSX composite ended the day down 421 points while the Dow Jones industrial average lost 588 points. The loonie closed at its lowest level since August 2004, hitting 75.4 cents U.S.

Speaking in Quebec, Harper acknowledged that Canada is facing “economic challenges,” but pointed to the Conservative record of investing in innovation, infrastructure, immigration, training, and trade to create economic growth.

“We’re making investments in the things that will get us through this, and position us well for the long term,” he said.

He also highlighted Canada’s “disciplined” financial framework, including a strong banking system, a balanced budget, and low taxes.

By contrast, Harper said, the NDP and Liberal Party are proposing large-scale permanent spending increases, which they would finance through deficits and tax increases.

“We think that is clearly the wrong track. It would be clearly damaging both in the short term and the longer term in this country,” he said. “Given the challenges around us, we need to stick with a long-term plan that has been working and will work.”

Harper’s office released a short statement Monday stating that he had spoken on the phone in the morning with Bank of Canada Governor Stephen Poloz.

“Prime Minister Harper and Governor Poloz discussed the recent decline in global stock markets and commodity prices, slowing growth in China and emerging markets and the potential impacts on Canada’s economy,” the statement read. (Source: CTV News)