The specter of Ronald Reagan continues to haunt Donald Trump, sending shockwaves through the White House as the US president struggles to defend his protectionist trade policies.
In an unexpected move, the Ontario provincial government aired a television ad during the first game of the World Series featuring excerpts from President Reagan's 1987 radio talk on the dangers of trade wars. The ad was meant to be taken down immediately, but Trump took umbrage with its message and retaliated by imposing additional tariffs on Canada.
Trump believes that the ghost of conservatism past is haunting him, warning of the perils of protectionist trade policies. In a speech in 1987, Reagan warned that "high tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars." Trump's tariffs have already led to a surge in trade tensions with Canada, Japan, South Korea, and China.
The US president's reaction to the ad has raised questions about his grasp on reality. Trump's lawyer, Roy Cohn, who was close to Nancy Reagan, could not gain him access to the former president. The White House counsel's office even rejected a congratulatory telegram request from Trump in 1983.
Trump's relationship with Reagan was always uneasy. Throughout the 1980s, he sought Reagan's imprimatur but was repeatedly rebuffed. In his book "The Art of the Deal," published in 1987, Trump suggested that Reagan was a hollow construct, saying, "so smooth, so effective a performer" that "only now, seven years later, are people beginning to question whether there's anything beneath that smile."
Now, it seems that Trump is facing a similar backlash from his own critics. The US court of international trade has ruled against Trump's tariffs, and the appeals court has upheld the decision. Even if Trump prevails in the Supreme Court, it will likely be seen as a victory for intimidation rather than a legitimate defense of his policies.
As the case moves forward, traders are already positioning themselves to profit from the uncertainty. A Wall Street financial firm, Cantor Fitzgerald, is reportedly offering bets on the outcome of the litigation, with some expecting a market on the rights to tariff refunds if Trump loses.
The affair has raised questions about the ethics of Cantor Fitzgerald's CEO, Howard Lutnick, and his father, Brandon Lutnick. The senator Ron Wyden has asked for information about potential conflicts of interest between the firm and the administration.
In short, Ronald Reagan's ghost is haunting Donald Trump once again, warning him of the dangers of protectionist trade policies and the perils of losing in court.
In an unexpected move, the Ontario provincial government aired a television ad during the first game of the World Series featuring excerpts from President Reagan's 1987 radio talk on the dangers of trade wars. The ad was meant to be taken down immediately, but Trump took umbrage with its message and retaliated by imposing additional tariffs on Canada.
Trump believes that the ghost of conservatism past is haunting him, warning of the perils of protectionist trade policies. In a speech in 1987, Reagan warned that "high tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars." Trump's tariffs have already led to a surge in trade tensions with Canada, Japan, South Korea, and China.
The US president's reaction to the ad has raised questions about his grasp on reality. Trump's lawyer, Roy Cohn, who was close to Nancy Reagan, could not gain him access to the former president. The White House counsel's office even rejected a congratulatory telegram request from Trump in 1983.
Trump's relationship with Reagan was always uneasy. Throughout the 1980s, he sought Reagan's imprimatur but was repeatedly rebuffed. In his book "The Art of the Deal," published in 1987, Trump suggested that Reagan was a hollow construct, saying, "so smooth, so effective a performer" that "only now, seven years later, are people beginning to question whether there's anything beneath that smile."
Now, it seems that Trump is facing a similar backlash from his own critics. The US court of international trade has ruled against Trump's tariffs, and the appeals court has upheld the decision. Even if Trump prevails in the Supreme Court, it will likely be seen as a victory for intimidation rather than a legitimate defense of his policies.
As the case moves forward, traders are already positioning themselves to profit from the uncertainty. A Wall Street financial firm, Cantor Fitzgerald, is reportedly offering bets on the outcome of the litigation, with some expecting a market on the rights to tariff refunds if Trump loses.
The affair has raised questions about the ethics of Cantor Fitzgerald's CEO, Howard Lutnick, and his father, Brandon Lutnick. The senator Ron Wyden has asked for information about potential conflicts of interest between the firm and the administration.
In short, Ronald Reagan's ghost is haunting Donald Trump once again, warning him of the dangers of protectionist trade policies and the perils of losing in court.
i mean cantor fitzgerald is already makin bets on the outcome of this case, lol what a circus! 
& btw cant we just talk about how weird it is that trump thought reagan was like, not real or smthn? didnt he know reagan was all about the conservatism vibes?! anywayz gotta keep an eye on this one, seems like there's some shady stuff goin down w/ those lutnick dudes 
I gotta say, this whole thing with Trump and the Ontario ad has me feeling like a total time capsule. You know how much I love revisiting the '80s - Reagan's got one of the coolest hairstyles ever 
. But for real, it's wild to see Trump getting roasted like this. He's always going on about being a master deal-maker, but when it comes down to it, he can't even navigate a trade war without freaking out.
Just kidding ( sorta), but seriously, this whole thing is a reminder that the ghosts of our past are always lurking in the shadows. You can't escape the lessons of history, especially when it comes to economics.
. Anyway, it's gonna be interesting to see how this all plays out in court. In the meantime, I'll just be over here enjoying the nostalgia and the thrill of watching a president get his butt kicked 
? trump is being haunted by reagan's ghost literally! like, i was watching the world series ad with my friends and we all were like "wait what" 
he's always been a bit of a drama king. and can we talk about how embarrassing it is for him? 
his lawyers can't even get access to reagan's speeches? what are they going to say now? "my client's policies are legit"? 
and btw, what's good with royan cohn tryna help trump access reagan's notes? did he even bother reading up on the dude beforehand 
It's like he thinks the US is the only country that cares about its economy or something.
! Trump really got played by a TV ad from like 37 years ago 
. Either way, I'm just here for the drama and entertainment value 
i mean who wouldn't want to use a bit of reagan-esque nostalgia to get under trump's skin? it's like they're using his own playbook against him 
anyway, the fact that he's freaking out and retaliating with tariffs just shows how unprepared he is for reality check. can't say i blame canada or anyone else for taking advantage of us 
. And let's not forget that Cantor Fitzgerald is basically betting on Trump's loss 
. I'm just waiting to see how far this goes and if the Supreme Court really does rule against him 
. One thing for sure, the market is already taking bets 
. But seriously, it's starting to look like he's lost control of the narrative, and that's never good for anyone in power 
.
. And now traders are positioning themselves to profit from his losses? It's just too rich 
. This whole situation is starting to look like a mess, and it's only going to get worse if he can't get his act together 