Do You Know Why Trump Wants Big Beautiful Bill Passed by July 4th- Because Pause On Tariffs End July 8, 2025.
First, Canada our second largest trading partner- Trump Cut off trade talks with Canada on Friday, June 27. But, then again, this is chaos. Today, June 30, the trade talks with Canada are back on. It changes daily.
Second, tariffs with the European Union will go up 50% on EU imports on July 8th. And the EU will impose retaliatory tariffs on US goods on July 14th if negotiations are not satisfactory to them.
Third, for most nations, July 8th is the end of the 90-day pause on the sweeping global reciprocal tariffs that Trump imposed in early April, and then froze a week later.
Fourth, the tariff pause between the US and China ends on August 12. And, remember Trump’s big win here was sourcing rare minerals…getting up back to where we started as before his tariffs we had access to them. And, on August 31- end of an extension on long standing exlcusions from certain products from China tariffs.
So, add the cost you and I will pay for increased prices due to tariffs to the $5.2 TRILLION in tax cuts in the Big Beautiful Bill (49% go to top 5%), reduction or cuts in HEAP, SNAP, Medicaid, Meals on Wheels and other social programs, and we are screwed. And, if you are poor, disabled or old, good luck.
The tax cuts will add $5.2 TRILLION to the deficit. And, permanently. Permanent tax cuts for corporations when 50 for Fortune 500 paid NOTHING. (2023)- Tesla has $5 billion credit, 3M- $2.7 Billion credit, Airbnb- $2.7 billion credit, Pfizer- $1 billion credit, Godaddy-$1 billion, etc. Not only didn’t pay but have credits.
