Trump's 'Liberation Day' Tariffs Shake Global Markets

President Donald Trump's sweeping new tariffs, announced as a 'Liberation Day' initiative, have triggered significant market turmoil, with major indices like the Dow Jones and S&P 500 experiencing sharp declines. Economist Thomas Sowell criticized Trump's approach, warning of a potential global trade war reminiscent of policies that led to the Great Depression. The tariffs, affecting over 280 countries, aim to create fair trade agreements and bolster domestic manufacturing, though they have been met with skepticism regarding their economic impact. While the Trump administration views tariffs as a revenue source to offset tax cuts, critics argue they essentially tax American consumers and could lead to recessionary pressures. Despite the market fallout, Trump maintains that the tariffs will ultimately benefit the U.S. economy, a sentiment not widely shared in financial circles. Investors are advised to remain cautious but see potential long-term opportunities as markets adjust.