While layoffs sweep the nation, global markets unravel under the weight of sweeping new tariffs, and Americans watch their 401(k)s tank, President Donald Trump and his inner circle spent the weekend partying, golfing, and cashing in.
“Trump justified tariffs saying [the] U.S. is in the midst of a national emergency, then he left the White House for Florida, where his Doral resort is holding a LIV golf tournament financed by Saudi Arabia,” one social media user wrote calling out Trump directly by tagging his presidential and personal X accounts. “Guess the U.S. emergency is not important.”
From a Saudi-backed LIV Golf tournament at Trump National Doral, to a seven-figure fundraiser at Mar-a-Lago, the Trumps appeared unfazed by the financial collapse. As the economy craters, the Trump brand is booming.
The lavish weekend began as crowds gathered at the 643-room Trump Doral resort near Miami and at Mar-a-Lago, 70 miles north. Trump made his entrance aboard a military helicopter, chauffeured by his son Eric in a golf cart straight to a luxury dinner. Later, the Saudi-funded LIV Golf league — backed by the kingdom’s $925 billion sovereign wealth fund — kicked off its fourth tournament at the Trump-owned property.
Meanwhile, at Mar-a-Lago, Trump hosted a high-dollar fundraiser dubbed the American Patriots Gala, drawing dignitaries like Homeland Security Secretary Kristi Noem and Argentina’s President Javier Milei.
Even as the White House warned of global instability, Trump was selling access, memorabilia, and merchandise. One of his political committees offered supporters the chance to purchase a signed replica of his latest executive order — renaming the Gulf of Mexico to the “Gulf of America” — for a minimum donation of $50.
The celebration came just days after Trump, wielding a Sharpie now sold for $3 in Mar-a-Lago gift shops, signed an executive order launching a sweeping new round of global tariffs. The fallout was immediate and catastrophic.
In just 48 hours, the S&P 500 lost $5 trillion in value. By Monday, the index had fallen 4%, entering bear market territory. The Nasdaq tumbled 4.5%, and the Dow dropped 1,200 points. Global indexes followed suit, triggering circuit breakers across Europe and Asia. Bitcoin, oil, and other commodities also sank.
And yet, at Trump Doral, it was business as usual. The resort’s most expensive suite — a $13,000-per-night escape — was sold out. The BLT Prime steakhouse bar was packed, with guests shelling out $130 for porterhouse steaks. Trump-branded crystal-studded purses were flying off the shelves for $550, while Doral-branded paperweights made in China sold for $18, even as new tariffs threatened price hikes.
“It is a nice club,” said Yasir Al-Rumayyan, governor of Saudi Arabia’s sovereign wealth fund and chairman of LIV Golf, as he observed the tournament alongside Eric Trump.
“This is the perfect venue,” Eric Trump declared on Friday, the same day his father spent hours at yet another Trump-branded property, the Trump International Golf Club near Mar-a-Lago, sending out social media posts like: “THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE.”
The Sting of Tariffs, Anti-DEI Executive Orders
Back in Washington, Trump’s new tariffs are being felt most acutely by working Americans.
The baseline 10% tariffs took effect on Saturday. By Wednesday, dozens of countries will face higher reciprocal rates.
China announced a retaliatory 34% tariff on all U.S. goods beginning Thursday. The U.S. is increasing tariffs on Chinese products from 20% to at least 54%.
“The tariff Pandora’s box has been opened,” analysts at Goldman Sachs wrote, calling the U.S. moves “substantially higher than our economists’ previous base case.”
JPMorgan CEO Jamie Dimon issued a sobering message to investors Monday morning.
“We are likely to see inflationary outcomes, not only on imported goods but on domestic prices, as input costs rise and demand increases on domestic products,” Dimon warned.
And the pain isn’t just at the checkout counter. Trump’s executive actions also target racial equity and environmental protection. He has rescinded multiple federal diversity, equity, and inclusion (DEI) initiatives. He signed an order dismantling race-conscious military recruitment and eliminated Executive Order 11246, which has barred discriminatory practices among federal contractors since 1965.
Trump has also taken aim at the Environmental Protection Agency, threatening key regulations meant to ensure clean air and water in historically neglected Black communities. He has signaled an intent to privatize the U.S. Postal Service, a major employer of African Americans.
As economic indicators point downward and global relationships strain under the weight of Trump’s tariff war, the president’s inner circle continues to rake in profits. Four million-dollar dinners have already taken place at Mar-a-Lago since Trump’s election in November, with a fifth planned for April 24.
Back at Doral, fans from as far as South Africa paid up to $1,400 for access to VIP viewing areas and unlimited food and drink — all while markets tanked and working Americans braced for layoffs, soaring prices, and further retirement losses.
Maryland Del. Adrian Boafo (D-District 23) emphasized the effects of the president’s tariffs during this time.
