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.
Either he doesn’t know what he’s doing, or he does and this is the desired results. Both options are terrifying for the future.