Free trade advocates in the Republican Party’s old guard piled on Donald Trump as the stock market tumbled sharply downwards on Thursday in response to the White House’s tariff plan.
Wednesday’s announcement of across-the-board tariffs on nearly all countries that export goods to the US sent markets spiraling in after-hours trading, which solidified into a steep drop Thursday morning. Reuters reported that the first US job losses from import tariff hikes were taking place in Michigan and Indiana, where automaker Stellantis announced hundreds of “temporary” layoffs due to idling production facilities in Mexico and Canada.
