Trump's customs hammer: Super rich lose billions - who remains?

Trump's customs hammer: Super rich lose billions - who remains?

In the course of the ongoing customs policy of US President Donald Trump, many of the richest Americans have proven to be the greatest loser. At the start of his term, at a meeting in Washington, prominent entrepreneurs such as Jeff Bezos from Amazon, Mark Zuckerberg from Facebook and Elon Musk from Tesla were involved in the negative statistics of the new tariffs. These new trading restrictions have dropped both the share prices globally and badly damaged the assets of these super -rich. The Tesla share has halved since the introduction of the high tariffs, which earned Elon Musk a loss of around 9 billion euros. Zuckerberg, on the other hand, lost drastic 18 billion euros in a single night, while Amazon has lost almost 30 percent of value since his high in February, such as OE24 reported.

The financial imbalance of the super rich is a clear indicator of the effects of Trump's customs policy, which aims to make foreign goods more expensive. Among other things, 25 percent tariffs on products from Canada and Mexico apply. In addition, the tariffs rise to Chinese imports from 10 to 20 percent. These measures lead to a broad market reaction that not only presents the technology sector, but also the industrial sector and small companies with great challenges. The fear of a possible, global economic downturn also stirs up the nervousness of the investors, such as n-tv reported.

The pressure on numerous industries, especially in the automotive and technology sector, has drastic effects. US carmakers such as Ford and GM are faced with higher production costs, while international manufacturers such as Volkswagen and Mercedes-Benz have to accept price losses. The trade war not only has an impact on companies, but could also affect consumers in the form of rising prices in inflation. Experts warn that an escalation of the trade conflicts could lead to a significant global economic crisis, since the tariffs serve as a political means of pressure and the manufacturers with international supply chains pose great challenges, which endangers the economic stability.