The Journal. Wall Street Speaks Out Against Tariffs
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Apr 7, 2025 
Gregory Zuckerman, a seasoned markets reporter for The Wall Street Journal, dives into the chaos sparked by President Trump's recent tariffs. He discusses the staggering $6.6 trillion loss in U.S. stock value and highlights the unexpected backlash from Wall Street leaders like Bill Ackman and Jamie Dimon. The conversation reveals investors' growing anxiety and confusion amidst this self-inflicted crisis, and underscores significant fears of a bear market that could shake both corporate dynamics and the lives of everyday Americans.
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Wall Street's Initial Tariff Blindspot
- During the campaign, Wall Street was focused on tax cuts and deregulation, overlooking Trump's tariff talk.
- They were overly optimistic about deals and market opportunities under Trump.
Trump's "Liberation Day" Tariffs
- Trump's new comprehensive tariff policy, unveiled on "Liberation Day," added further tariffs on top of existing ones.
- This policy targeted almost every country with additional, seemingly arbitrary tariffs, labeled "reciprocal."
A Self-Inflicted Crisis
- This market downturn is unique as it's self-inflicted by government decisions.
- Unlike previous crises with external causes, this one lacks a clear playbook for recovery.