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Stocks plummeted Thursday, sending the S&P 500 back into correction territory for its biggest one-day loss since 2020, after President Donald Trump unveiled sweeping tariffs, raising the risk of a global trade war that plunges the economy into a recession.The broad market index dropped 4.84% and settled at 5,396.52, posting its worst day since June 2020. The Dow Jones Industrial Average tumbled 1,679.39 points, or 3.98%, to close at 40,545.93 and mark its worst session since June 2020. The Nasdaq Composite plummeted 5.97% and ended at 16,550.61, registering its biggest decline since March 2020. The slide across equities was broad,...

Americans will likely have to pay more at the supermarket counter within the coming days while higher prices on everything from sneakers to furniture to cars could be felt in a matter of weeks following President Trump’s tariffs rollout, economists and industry experts told The Post.

When the upper brass of Bay Area tech flocked east to pay their respects to Donald Trump earlier this year, they surely expected some preferential treatment in return. But instead, the president just hit them where it hurts. Trump revealed sweeping new tariffs on Wednesday, including a 10% baseline tax on all imports and double or triple that much for certain countries. He dubbed the non-baseline tariffs “reciprocal” and noted that some goods would not be subject to those levies, including semiconductor chips, in a win for Silicon Valley. Nonetheless, on Thursday, the very tech executives who kissed Trump’s proverbial...

PULSE POINTS:❓What Happened: Former Vice President Mike Pence, who is pushing the GOP to reembrace unpopular globalist economic policies, is criticizing President Donald J. Trump’s imposition of extensive global tariffs, claiming they represent the largest peacetime tax increase in U.S. history.👥 Who’s Involved: Mike Pence, Donald Trump, and America First conservatives, including Trump’s trade advisor Peter Navarro.📍 Where & When: Pence posted criticism to X (formerly Twitter) Wednesday evening following President Trump’s “Liberation Day” event.💬 Key Quote: “The Trump Tariff Tax is the largest peacetime tax hike in U.S. history,” claims Pence.⚠️ Impact: Critics like Pence claim the tariffs could...

I. DON'T. KNOW. Normally, when I don't know about something, I try not to start a post about the subject. None of us knows everything about everything, and there is a reason why God invented the division of labor. Let people who know about how to do things do them. But in this case, the REASONS why I don't know whether Trump's tariffs will help or hurt America are important, and I hope I can help clarify at least some of the reasons why people are lining up on different sides of the issue. ARE TARIFFS GENERALLY GOOD ECONOMIC POLICY?All...

Treasury Secretary Scott Bessent made it clear in an interview with CNN that the era of trade imbalances is over, and under President Trump, the U.S. will no longer tolerate unfair treatment. During a discussion with CNN’s Kaitlan Collins, Bessent confidently explained the administration’s position on tariffs and trade policy, signaling that Trump’s economic strategy is deliberate and well thought out. When pressed on how the administration’s policies could impact the auto industry, particularly regarding vehicles made with foreign parts, Bessent was blunt. “If half the cars coming into the United States are foreign-made, that's hard to turn around overnight,...

WASHINGTON — The Trump administration is facing global blowback after announcing a dramatic series of tariffs on countries around the world, with U.S. adversaries and allies alike promising crushing responses that could devastate the American economy.Stock markets in the United States, Europe and Asia plunged in the aftermath of President Trump’s announcement, which included a 10% base rate hike on nearly all foreign imports. Still other countries and trading blocs, including China, the European Union, South Korea and Japan, were hit with higher rates.“We’re now preparing for further countermeasures to protect our interests and our businesses if negotiations fail,” Ursula...

Well, he did it. President Trump earned every bit of the label “Liberation Day.” Simply put, it was the most aggressive U.S. trade action in modern history. Nothing else even comes close. “April 2nd, 2025 will forever be remembered as the day American industry was reborn, the day America’s destiny was reclaimed,” President Trump told a large audience at the Rose Garden yesterday afternoon. “It’s our Declaration of Economic Independence,” he soaringly explained. The speech was equal parts policy, data, and classic Trumpian showmanship. And, having slept on it, I have decided it was a historic speech for a historic...

General Motors (GM) plans to expand production at one of its plants in Indiana thanks to President Donald Trump’s tariffs on foreign-made cars. On Wednesday evening, Trump announced a 25 percent tariff on all foreign-made cars to protect the nation’s auto industry from unfair trade competition. GM executives said they will be increasing production of light-duty trucks at the automaker’s Fort Wayne Assembly Plant in Indiana, according to an exclusive report by Reuters on Thursday.

The Establishment’s Big Guns Come Out Blazing Against TariffsOlivier Blanchard is a renowned economist—former chief economist of the IMF, Robert M. Solow Professor Emeritus at MIT, and Senior Fellow at the Peterson Institute for International Economics. When he speaks, the establishment listens.So, when Blanchard took to social media Wednesday morning—or “Liberation Day,” as President Trump is calling it—with a long post warning that Trump’s forthcoming tariffs could plunge the U.S. economy into recession, the commentariat responded with glee that their bias against Trump’s economic proposals was being confirmed from on high. His argument boils down to this: tariffs may initially...

WASHINGTON — Vice President JD Vance told Breitbart News exclusively on Wednesday evening that for the “first time in probably 40 years,” the United States has a president in President Donald Trump who is reversing the trend of the U.S. serving as a “piggy bank” for the rest of the world.“So for 40 years, America has been the piggy bank of the world,” Vance said when asked about the importance of the president’s announcement on Wednesday. “We absorb all of the ridiculous trade practices and economic practices of friend and foe alike. For the first time in probably 40 years,...

Germany’s outgoing Chancellor voices the frustrations felt across the European ruling class at President Donald Trump tearing up the status quo on trade, decrying an “attack”.The European Union, which has been hit with tariffs twice as high as post-Brexit Britain given the bloc’s protectionist policies and tariffs on imports, is expressing its distress and even outrage at President Trump’s bid to reform the United States’ trade relationship with the world.Germany’s Chancellor Olaf Scholz who is still technically in power nearly six weeks after he lost the Federal elections in February spoke in defence of the globalist status quo on Thursday....

Stellantis is halting production at two manufacturing plants, one in Canada and another in Mexico, just a day after President Donald Trump announced 25-percent tariffs on all foreign-made cars.During a speech in the Rose Garden on Wednesday evening, Trump announced the auto tariff and the United States reciprocal tariffs, marking an end to the nation’s decades-long free trade policy that has eliminated millions of American manufacturing jobs.Stellantis, whose former CEO Carlos Tavares was the highest paid auto executive — raking in nearly $40 million annually before his resignation in December of last year — has announced that its Windsor Assembly...

Treasury Secretary Scott Bessent had a simple three-word response to countries looking to respond to the United States’ broad tariffs: “Do not retaliate.” President Donald Trump announced on his self-proclaimed “Liberation Day” and declared a 10% tariff on all goods as well as retaliatory tariffs on some of the U.S.’s closest allies that he says are taking advantage of the U.S. Tariffs of 34% on China, 20% on the EU, 24% on Japan, and 32% on Taiwan are some of the more noticeable ones. Due to an existing 20% tariff, the tariffs on China went up to 54%. “My advice...

The response from the EU is exactly what we would expect to see from the end of the 80-year-old Marshal Plan.EU Commission President Ursula von der Leyden has three big concerns with the new trade/tariff reset. I strongly suggest everyone to read the EU concerns slowly to fully absorb decades of hypocrisy now surfacing:#1 The EU will not be able to compete for U.S. market share with 20% general tariffs and 25% auto tariffs.#2 The EU must deploy countermeasures against the risk of losing industrial capacity and manufacturing to the United States.And #3 The EU must defend itself against China...

Vice President JD Vance appears on Fox News this morning to discuss the trade tariffs and the ongoing MAGAnomic trade reset.The reciprocal tariffs and global trade rebalance are two components of a much larger MAGAnomic policy. Tax structures to the benefit of the working-class, upward pressure on wages and expanded GDP growth are all elements of increasing the wealth of Main Street and middle-class Americans. WATCH:.

Liberal Prime Minister Mark Carney, who assumed the top government role after the resignation of his radical leftist predecessor Justin Trudeau, vowed to “fight” the tariffs that President Donald Trump announced on Wednesday — which overwhelmingly did not affect Canada. President Trump unveiled a long list of reciprocal tariffs on American trade partners on Wednesday, a day he branded “Liberation Day” for the American economy. The tariffs, he explained, were intended to target countries that levy high tariffs on American goods while enjoying nearly fully unencumbered access to the U.S. market.

China has reacted negatively to President Donald Trump’s reciprocal tariffs, with the country’s Communist Party-controlled foreign ministry accusing the U.S. of “bullying.” Trump unveiled a 34 percent tariff on Chinese goods at his “Liberation Day” event from the White House Rose Garden on Wednesday in response to China’s 67 percent tariff on American products. “In other words, they charge us, we charge them, we charge them less, how can anybody be upset,” the president said.

@RapidResponse47 President Trump has been calling attention to the disaster falsely marketed as "free trade" for decades. In reality, foreign countries have gotten rich at the expense of the American worker. Today, he finally levels the playing field.

Nike stock is plunging on Thursday, the day after President Donald Trump announced reciprocal tariffs that will end the nation’s decades-long free trade policy. “NKE was last seen 11.3% lower at $57.62, as investors digest the long-term impact of rising supply chain costs on the company’s margins,” Schaeffer’s Investment Research reports. “The stock is set to snap a three-day win streak, extending its late-March post-earnings bear gap and hitting its lowest level since November 2017. Nike stock now carries a 23.5% year-to-date deficit.” On Wednesday evening, Trump announced reciprocal tariffs — adding a 34 percent tariff on China, a 46...