Donald Trump should’ve done his tariff announcement on April 1 instead of April 2. It would have been much more appropriate for him to do this on April Fools’ Day.

The first day, let me rephrase that, the first morning after the Dow is down 1200 points and plummeting downwards. The above chart shows that when Trump was inaugurated, the Dow was about 45,000. Now it is below 41,000. Russes alleged asset code name for Trump, Krasnov, comes to mind. Did Russ get hit with his tariffs?

Canada seemed to have received a break from Trump’s tariffs given that all USMCA compliant goods are exempt from yesterday‘s tariffs. What Canada is still being hit with 25% tariffs on aluminum, steel, and automotive goods. There’s a plant already shut down in Windsor for two weeks. So the pain has already begun.

The White House administration is telling other countries just to relax and accept this and don’t retaliate. They really expect other countries to do this. That’s not gonna happen.

There will be retaliation, including from our own country. The tariffs for other jurisdictions are harsh. China hit with around 35%, Japan 24% the EU 20%. Canada as well as other countries and jurisdictions will be looking for new trading partners. That will hurt America. We will all be hurting for the next little while if this insanity continues by Trump. The world is just recovering from Covid and we could be heading to another recession. . The US did this before 1930 with protective legislation. The depression did not end until World War II.

This is absolutely total lunacy. How crazy is this? One of the areas being hit by tariffs is an island off Antarctica. The island is inhabited by penguins, no humans but penguins.

Oh my goodness.

All I can stomach for today.