The Tariff Selloff Narrative Doesn’t Make Sense
If you’re looking for an explanation of why the stock market has been stumbling, the financial press has a ready-made answer: blame Trump’s tariffs.
The claim is familiar, convenient, and utterly predictable. It also happens to be wrong. Markets don’t move in neat response to political narratives, and the idea that investors suddenly woke up to the perils of trade policy months after Trump was elected is as laughable as it is lazy.
If the press had a better explanation, they’d use it—so long as it made President Trump look bad. Instead, they’re dusting off the same script they used in 2018. But the numbers—and history—tell a very different story.
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