Just over five months have passed since President Donald Trump’s Apr. 2 declaration of “Liberation Day,” in which he signed an Executive Order declaring a national emergency regarding America’s trade deficit, which Trump asserted gave him the right to level a minimum 10% baseline tariff upon nearly every country that trades with the U.S.
The announcement created economic chaos and led to a near-immediate global market crash, with a number of American retailers warning they would have to increase their prices as a result of the incoming tariffs and potential trade wars.
