Donald Trump Drops $400 Million on Forbes Billionaires List Read Newsmax Article: Trump Drops on Forbes Fortune List | Newsmax.com Urgent: Do you approve of Pres. Trump’s job performance? Vote Here!

Forbes says President Donald Trump’s fortune has plummeted an estimated $400 million to $3.1 billion in the year since he’s taken office. Then latest Forbes World’s Billionaires list released Tuesday says the drop is the result of New York City’s struggling retail real estate business as well as Trump’s "polarizing personality." "The rise of e-commerce has pushed down the value of properties like Trump Tower, which sits in the heart of shopping mecca Fifth Avenue in New York City," writes Forbes reporter Dan Alexander, who estimates the value of Trump’s gold skyscraper has declined $41 million in the last year. The value of Trump’s hotel licensing and management company dropped an estimated $50 million in the last year, according to Forbes. "The power of the Trump brand seems to be fading in markets like Toronto and New York, where investors have removed the president’s name from hotels. On Monday, workers reportedly pried Trump's name off of a third tower, in Panama," Alexander writes. Still, there are "bright spots" in the president’s portfolio: Office space Lower Manhattan is performing better than midtown retail, which has boosted his property at 40 Wall Street by an estimated $32 million, the respected financial mag reports. Forbes adds while Trump’s $3.1 billion fortune is "a far cry" from the $10 billion-plus he once claimed, it still makes him the richest president in U.S. history. Related Stories: Trump Says he Won't Back Down on Tariffs Plan White House Dismisses Claim Kremlin Torpedoed Romney For Secretary of State Read Newsmax Article: Trump Drops on Forbes Fortune List | Newsmax.com Urgent: Do you approve of Pres. Trump’s job performance? Vote Here! President Donald Trump warned he would "simply apply a Tax" on cars coming into the country if the European Union retaliated in response to the new tariffs on aluminum and steel he announced late last week. "If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!" Trump tweeted Saturday. European Commission President Jean-Claude Juncker had responded to Trump's Thursday announcement on tariffs, saying the bloc was prepared to respond forcefully by targeting imports of Harley-Davidson Inc. motorbikes, Levi Strauss & Co. jeans and bourbon whiskey from the U.S., Bloomberg News reported Saturday. Trump also railed about the "very stupid" trade deals negotiated by previous administrations, tweeting other countries "laugh at what fools our leaders have been." "The United States has an $800 Billion Dollar Yearly Trade Deficit because of our 'very stupid' trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!" Trump tweeted Saturday. On Thursday, Trump announced tariffs of 25 percent on steel and 10 percent on aluminum, using a law that allows a president to render tariffs on imports if they are deemed a threat to national security. In another tweet on the issue Friday, the president maintained "trade wars are good, and easy to win." Republicans and Democrats have denounced the move to impose tariffs fearing it would drive American businesses to leave the country, cost the U.S. jobs and start a trade war with other nations. However, Commerce Secretary Wilbur Ross on Friday said tariffs on aluminum and steel were "no big deal," adding, "This is not the first time we put tariffs on steel." Related Stories: World Threatens Retaliation on Trump Tariffs Labor Unions Praise Trump Plan for Steel, Aluminum Tariffs Read Newsmax Article: Trump Threatens Tax on European Cars | Newsmax.com Urgent: Do you approve of Pres. Trump’s job performance? Vote Here!