Economic Whiplash from Tariffs

President Trump's recent announcements regarding tariffs on goods from Canada and Mexico have caused significant turmoil in global markets, leading to a dramatic drop in stock prices. The intended 25% tariffs were designed to pressure these countries into taking action on issues such as drug trafficking, specifically targeting fentanyl smuggling, while ostensibly protecting American jobs. However, this has created widespread confusion among businesses and consumers, raising concerns about increased prices for everyday goods. With economic advisors oscillating between justifying these tariffs as necessary and signaling potential carve-outs, the unpredictability has contributed to a volatile economic environment.