President Trump is expected to announce sweeping new tariffs today (not yesterday… just to show he ain’t foolin’).
The details of #47’s plans are unclear, but reports suggest the White House may go one of two directions:
- Levy a flat 20% tariff on virtually all imports
- Impose country-specific “reciprocal tariffs,” which would match any tariffs other countries have placed on the U.S.
Trump is calling it “Liberation Day,” saying his plan will break America free from unfair trade relationships, bring manufacturing back to the U.S., and raise government revenue to offset proposed cuts to income taxes. Critics say tariffs will make everything more expensive for American consumers, risking high inflation and a recession.
Investors aren’t loving the uncertainty. On Monday, the S&P 500 and Nasdaq both closed out their worst quarters since 2022.
Verse to consider when your bank statement sends you spiraling… “Though the fig tree does not bud and there is no fruit on the vines, though the olive crop fails and the fields produce no food… yet I will celebrate in the Lord; I will rejoice in the God of my salvation! The LORD my Lord is my strength; he makes my feet like those of a deer and enables me to walk on mountain heights!”
Habakkuk 3:17-19 (CSB) (read full passage)
The Pour Over