(The Dispatch)—Litigation Day. The markets have continued to sour on President Donald Trump’s tariffs on nearly all imports to the United States. Major stock indices have been on successive roller coasters of daily trading, reacting positively to indications the president might relent but then quickly falling after Trump signals he plans to stay his course. Wall Street CEOs have begun publicly voicing criticisms. Even Elon Musk reportedly urged Trump over the weekend to reverse the duties, and he’s begun using Peter Navarro—the senior counselor for trade and manufacturing to the president—as an online punching bag.
But the president has forged ahead with a tariff regime that, if continued, could constitute the largest tax increase in more than 40 years. Trump threatened Monday to bring tariffs on imports from China up to a whopping 104 percent, a threat the White House followed through on as of 12:01 this morning. During a speech at a National Republican Congressional Committee dinner last night, the president also said he would soon levy additional tariffs on pharmaceuticals. Now, court challenges backed by some conservative legal groups are gaining steam…
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