Today is Liberation Day in the U.S., as declared by President Trump but we don’t exactly know what that means yet. We know it means tariffs for other countries but…is there a cuisine we should eat to celebrate or a ritual of sorts for the rest of us?
I don’t think it is that kind of holiday. It is an economic milestone when the Trump administration will set taxes on imports from other countries that tax U.S. exports. He calls them “reciprocal” tariffs.
Not all Republicans support the President on this one. Senator Rand Paul co-sponsored a bill to terminate the emergency legislation that will place tariffs on Canada. Other Republicans have joined the efforts to stop the tarriffs, which President Trump said would “let the Democrats have a Victory. It would be devastating for the Republican Party and, far more importantly, for the United States.”
Economists are divided on the tariff idea so there really is no way to know what will happen. The best we can do right now is…hold on. Like we have been.
