President Donald Trump was widely mocked after he boasted about his keen business sense and claimed that businessmen who criticize his tariff plans are actually the ones who are "bad at business."
The U.S. has escalated a growing trade war by imposing tariffs of up to 145% on Chinese imports, prompting China to retaliate with its own 125% tariffs on American goods. Additionally, the U.S. has slapped a 10% tax on imports from most other countries, while temporarily suspending higher rates for several nations for 90 days.
Trump claims the tariffs will boost domestic manufacturing, increase tax revenue, and drive major investment into the U.S. economy. However, the International Monetary Fund (IMF) has sharply downgraded its U.S. growth forecast for the year—from 2.7% in January to 1.8%—citing the uncertainty and economic strain caused by the tariff war.
The IMF also warned the situation could trigger a “significant slowdown” in global growth.
But to hear Trump tell it, no one else knows what they're talking about. He wrote:
"THE BUSINESSMEN WHO CRITICIZE TARIFFS ARE BAD AT BUSINESS, BUT REALLY BAD AT POLITICS. THEY DON'T UNDERSTAND OR REALIZE THAT I AM THE GREATEST FRIEND THAT AMERICAN CAPITALISM HAS EVER HAD!"
You can see his post below.
@realDonaldTrump/Truth Social
That's a laugh considering Trump's business track record is riddled with failures and questionable decisions.
Trump Shuttle Airlines folded within two years (with a crash in the early months), Trump Mortgage collapsed within a year after hiring an executive who had wildly inflated his credentials, and ventures like Trump Steaks, Trump Magazine, GoTrump.com, Trump The Game, and Trump Vodka all failed.
Trump University shut down after a $40 million lawsuit from New York’s attorney general, while multiple casino and hotel ventures—including Trump Taj Mahal, Trump Plaza Hotel, Trump Casino Resorts, and Trump Entertainment Resorts—ended in bankruptcy.
According to Forbes, Trump would be $400 million richer today if he had simply invested his inheritance into an S&P 500 index fund instead of running these businesses.
His companies have also been notorious for stiffing vendors—leaving contractors, small-business owners, and suppliers unpaid. Unsettled debts include $2.98 million for hotel repairs, $100,000 owed for pianos, $90 million in unpaid bills at the Taj Mahal, and $5 million in liens at his D.C. hotel.
Trump was mocked in response.
As with anything involving Trump, this is little more than a classic case of projection.
@WhiteHouse/X
