Summary
Donald Trump defended his sweeping new tariffs—including a 104% levy on Chinese goods—despite market turmoil and a historic sell-off in U.S. Treasuries.
Speaking to Republicans, he claimed manufacturing is returning to the U.S., repeating, “I know what the hell I’m doing.”
China responded with an 84% tariff on U.S. goods, intensifying a trade war that tanked global markets.
The S&P 500 nears bear territory, and JPMorgan raised global recession odds to 60%. Critics warn of inflation, declining investor confidence, and deepening economic instability.
How long until the market simply becomes immune to the back-and-forth tariff nonsense? I feel like at this point Trump is just a fucking moron and people are having to seize the wheel from him to prevent total collapse of the system. He hikes the tariffs up, then pauses them hours after they go into effect. The inherently contradictory goal of wanting to bring American manufacturing back to America while simultaneously using tariffs as a negotiating tool makes no fucking sense no matter how you try to explain it.
Is this all just trying to control the narrative that the economy is crashing as a direct result of his economic plan?