Mark down March 3, 2025. That was the day Wall Street finally realized that US President Donald Trump was serious about tariffs. On Monday, the S&P 500 fell nearly 2 percent as Trump confirmed what we at the Atlantic Council predicted in February—that the tariffs on Canada and Mexico were not mere threats, but actually likely to be implemented. The stock markets continued to fall on Tuesday as investors processed the news.
Trying to play devil’s advocate to figure out where he could vaguely have support now and I’m coming up empty…
Big business? He’s screwing with their ability to offshore for cheap.
Labor? He’s against workers rights
Military? He’s constantly insulting them and handicapping them and screwing with all the suppliers and contractors too.
Pacifists? He’s simultaneously fomenting violence in Israel with us support while encouraging Russian violence by removing Ukraine support.
Racists? Well he’s certainly got the spirit, but as malicious as he is, in terms of number of people it’s been a token show, and they are such dealing with as many brown people in their day to day lives as before.
People who wanted lower prices? Obviously not helping them on any front.
People who wanted lower taxes? Well that’s not happening even in theory except people well into stuff figures that are losing way more than the tax breaks in other losses due to everything else going on.
I can’t think of a way anything he did improves things in any real way for any domestic interest, bad or good