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They could not have imagined a president would use emergency authority to bypass Congress and impose tariffs on the entire world.”

First, here's a quick summary of the tariff situation. Trump proclaimed April 2 "Liberation Day," suggesting that his tariff announcements represented economic freedom for the U.S. In early March, Trump initially spoke of tariffs on imports from Canada, China, and Mexico, then said he would announce the complete plan a month later.

The S&P 500 began the week with three straight daily gains, but then 'Liberation Day' led the index to its two worst days since March 2020.

Whatever the reasons that led Trump to rock the globe with his “Liberation Day” tariff regime, the immediate result has b

For decades, the U.S. was at the center of the rules-based trading system, thanks to the WTO and its massive consumer market. No longer.