Climbdown.
Trump ushered in what the Wall Street Journal called “the dumbest trade war in history” at the weekend when his administration imposed punitive tariffs on a wide range of products from Canada (25% on non-energy goods and 10% on energy), Mexico (25%) and China (an additional 10% on already-existing tariffs) which were set to take effect on Tuesday. There was instant retaliation in kind within hours from Canada, with the other two countries predictably vowing swift responses of their own.
Ritholtz’s Callie Cox gives a comprehensive, easy-to-read overview of how tariffs work and what they could…
The skinny
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