If you thought this week in politics was going to be calm, think again. In a move that sent shockwaves through the economy, (your) President Donald Trump rolled out a fresh batch of tariffs, triggering panic on Wall Street and setting off an “I told you so” moment from former Vice President Kamala Harris. Let’s break down the chaos inside.
Trump’s Tariffs Shake Up Global Markets
Trump made good on his long-standing threat to slap massive tariffs on China, hitting industries like technology, automotive, and agriculture. According to CNN, the new tariffs range from 25 percent to 60 percent on Chinese goods, a move the administration claims is necessary to protect American manufacturing. But in reality? It’s already backfiring. China quickly retaliated with its own set of tariffs on U.S. exports, making it clear that this trade war is far from over.
The Stock Market Hits an All-Time Low
The impact of these tariffs was almost immediate. The stock market (already on shaky ground) took a nosedive, reaching its lowest point since 2020 this week. The New York Times reports that investors panicked as fears of a global economic slowdown spread. With major companies taking a hit, job market concerns rising, and inflation already stressing consumers, the economic outlook isn’t looking great.
Kamala Harris’ “I Told You So” Moment
Meanwhile, Kamala Harris wasted no time reminding the public that she warned this would happen. Speaking at a press conference, Harris called Trump’s economic policies “disastrous” and said, “I hate to say I told you so,” referring to previous warnings she made about Trump’s reckless trade policies. As HuffPost notes, Harris had been vocal about the dangers of a trade war and how it could devastate working class Americans. Now, she’s doubling down, calling for immediate corrective action to mitigate the damage.
What’s Next?
With the economy in free fall and political tensions rising, all eyes are on how the Trump administration and how global markets will respond. Will there be an economic intervention? Will Trump double down some more? This is a developing story we’ll all need to watch closely.
