On Friday, the stock market continued its steep drop over the course of the last week in the aftermath of President Trump’s announcement that he would seek a 25% tariff on steel and a 10% tariff on aluminum. Since late January, the Dow Jones Industrial Average is down over 2,000 points. That makes sense, considering that according to the BBC, “Canada and the EU said they would bring forward their own countermeasures to the steep new tariffs. Mexico, China and Brazil have also said they are weighing up retaliatory steps.”
Trump laid out the intellectual groundwork for his tariff policy. Suffice it to say, it makes zero sense. The 18th century called and it wants its mercantilism back. Here’s what Trump tweeted:
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