It seems to have been going on much longer, but it has been only one month since Donald Trump’s “Liberation Day,” when he did his big reset on the world’s economy by raising tariffs on goods exported to this country to 10 percent, with higher “reciprocal” tariffs of up to 50 percent on 57 countries. The tariffs were supposed to take effect on April 9, but Trump chose that day to suspend for 90 days all the reciprocal tariffs except those on China, which he raised to 145 percent, because, he said on Truth Social, China had been “ripping off the U.S.A.”
Fifty-seven countries and the rest of the world had waited, and Trump caved, a grand total of seven days after stock markets around the world crashed and the dread “R” word, recession, began being uttered by cable news hosts and hitting newspaper headlines.
