Yesterday, billionaire Trump sycophant Bill Ackman took to X to praise the President. “This was brilliantly executed by @realDonaldTrump. Textbook, Art of the Deal.”
Let’s review the tape.
January 26: President Gustavo Petro refuses to accept Colombian migrants from the U.S. In a declaration misspelling the country’s name, Trump enacts 25% tariffs on Colombia. Colombia immediately declares retaliatory tariffs. Hours later, Colombia accepts the migrants and both countries cancel the tariffs.
(Dow: 44,713)
January 27: Trump lackeys trumpet the president’s actions and a White House statement declares “America is respected again.”
February 1: Announces 25% tariffs on Canada and Mexico, and 10% additional tariffs on China. “They owe us a lot of money, and I'm sure they're going to pay." All three countries promise retaliation.
(Dow: 44,421)
February 3: Trump delays tariffs on Mexico and Canada for 30 days.
(Dow: 44,556)
February 7: Canadian Prime Minister Justin Trudeau warns, "Mr Trump has it in mind that the easiest way to do it is absorbing our country and it is a real thing.”
February 10: Announces 25% tariffs on all aluminum and steel imports.
(Dow: 44,593)
February 13: Announces “fair and reciprocal” tariffs on (all?) foreign countries. Details are vague. Trump: “Prices could go up somewhat short term, but prices will also go down. So Americans should prepare for some short-term pain.”
(Dow: 44,546)
March 4: The 25% tariffs on Canadian and Mexican imports begins. Fearing spiking energy costs for American customers, Trump lowers the tariffs on Canadian energy to 10%.
(Dow: 43,006)
March 5: Delays 25% tariffs on car companies for one month.
(Dow: 42,579)
March 6: Amid blowback and falling stock prices, Trump relents and again delays the tariffs on Mexico and Canada for a month, declaring as he does so that there were “no delays at all.”
(Dow: 42,801)
March 12: The 25% tariffs on steel and aluminum begin.
(Dow: 40,813)
March 26: Announces a 25% tariff on all automotive imports (vehicles and parts).
(Dow: 42,299)
April 2: Announces “reciprocal” tariffs on all countries save Russia, Belarus, Cuba and North Korea. Tariffs are calculated by trade deficits, not foreign tariffs, based on a formula possibly created by AI.
(Dow: 40,545)
April 8: On the eve of the tariffs taking effect, Trump brags to a Republican audience, “I’m telling you, these countries are calling us up, kissing my ass. They are. They are dying to make a deal. ‘Please, please, sir, make a deal. I’ll do anything. I’ll do anything, sir!’”
He insists, “I know what the hell I’m doing. I know what I’m doing.”
(Dow: 37,645)
April 9. Hours after the new “reciprocal” tariffs had taken place, and amid hastening market collapse, Trump relented, delaying the higher tariffs for 90 days while retaining 10% tariffs on these countries. He also raised tariffs on China to a rate of 125%.
Republicans spend the day declaring Trump a master negotiator, routinely invoking The Art of the Deal.
(Dow: 40,608)
April 10. After a rally following Trump’s latest flip-flop, stock markets begin the day in steep decline. Dow: 39,459 (11:30am ET)
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