President Donald Trump's announcement Monday that his administration will impose across-the-board 25% tariffs against Canada and Mexico as well as a 10% tariff increase against China, effective Tuesday at midnight, was met with returning fire from those three countries — and a stock market tumble even as he was still speaking.
Trump was boasting about what he characterized as his administration's strong economic record and his ability to "[set] records," as Fox News captured the Dow Jones Industrial average plummeting in real-time. While the Dow falling by 20 points within a matter of seconds—and 650 points by the end of the day—did not constitute a world record, it did underscore the market's uncertainty over a policy that critics have said would dramatically raise prices on an array of goods.
