Donald Trump’s controversial tariffs policy, which has rattled the global economy, has one rather bizarre origin. It turns out, the policy that’s sending shockwaves through stock markets is based on a book his son-in-law Jared Kushner found on Amazon. Yes, you read that right.
📉 Markets Tumble as Tariffs Hit
This week, stock markets worldwide took a massive hit following Trump’s announcement of sweeping tariffs on imports to the US. Monday saw huge losses in European, Asian, and American markets, with a slight recovery on Tuesday morning. However, experts are warning of ongoing instability in the markets in the coming weeks.
📚 Where Did Trump’s Policy Come From?
If you’re wondering where Trump found the inspiration for a trade policy widely viewed as an economic disaster, it’s stranger than you might think. The story goes back to Trump’s first presidential campaign. He told his son-in-law, Jared Kushner, to dive into some research so he could “speak more substantively” about China.
Kushner turned to Amazon, where he found a book called Death by China by economist Peter Navarro. The book, published in 2011, made outrageous claims, including Chinese toys poisoning children, Chinese phones potentially exploding, and pyjamas from China being fire hazards.
🧐 The Book that Started it All
Intrigued by the book’s title, Kushner reached out to Navarro, inviting him to join Trump’s 2016 campaign as an adviser. Navarro became the only economic adviser on Trump’s team and is now the senior counsellor for trade and manufacturing. He’s the one who designed the tariffs policy that has many experts scratching their heads.
🤥 Fake Expert, Real Consequences
The cherry on top? Navarro’s book was later exposed as including quotes from fake experts. One particularly ridiculous “expert,” Ron Vara, was supposedly quoted saying: “Only the Chinese can turn a leather sofa into an acid bath, a baby crib into a lethal weapon, and a cellphone battery into heart-piercing shrapnel.”
Turns out, Ron Vara wasn’t real at all. He was an anagram of Peter Navarro’s own name! Journalist Tom Bartlett uncovered this in 2019, and it was revealed that the publisher, Prentice Hall, and its parent company, Pearson, had no idea the expert was made up. They had to add a note in future editions, clarifying that Ron Vara wasn’t a real person.
💸 The $9 Trillion Mistake
To sum it all up: Donald Trump’s son-in-law found an anti-China book on Amazon, written by a man who used fake quotes from made-up experts. And now, more than $9 trillion has been wiped off the global stock market. Unbelievable, right?
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