Trump Lost Half a Billion Dollars Due to New Tariffs
The wealth of U.S. President Donald Trump decreased from $4.7 billion to $4.2 billion in less than a week following the announcement of new tariffs on April 2, according to data from the American publication Forbes.
This is reported by AgroReview
Trump’s largest losses were due to the decline in the value of his company, Trump Media and Technology Group – its shares fell by 8% over three trading days. As a result, his stake in the company depreciated by $170 million.
Decline in Asset Value
Estimates of his commercial real estate also dropped by approximately $90 million. This includes partnership properties with Vornado Realty Trust in New York and San Francisco. The value of his real estate is now $570 million, compared to $660 million a week ago.
According to the publication, grim forecasts also concern Trump’s golf clubs. A decrease in demand among club members and a drop in shares of related companies could lead to an additional loss of $70 million. His hotels, including Trump National Doral in Miami, also experienced a decline in value of approximately $65 million.
Impact on Investments
Trump’s residential real estate, according to Forbes, lost another $20 million. Journalists also emphasized that Trump could have suffered a significant blow to his cryptocurrency investments.
In total, Trump’s financial losses due to the new tariffs amount to over $500 million. Analysts note that the greatest threat to Trump comes not only from the direct impact of tariffs but also from a decrease in investor confidence amid economic instability.
U.S. President Donald Trump announced on April 2 the imposition of tariffs on goods from around the world that will be imported into the United States.
The base tariff rate on imports of all foreign goods to the U.S. will be 10%. This rate will apply to goods from the United Kingdom, Brazil, Australia, Turkey, Ukraine, and many other countries. For European Union countries, the rate will be 20%, for China – 34%, for South Korea – 25%, for Japan – 24%, and for India – 26%. Record rates are being imposed for Cambodia (49%), Vietnam (46%), and Sri Lanka (44%).