On April 2nd, which he dubbed “Liberation Day,” President Trump announced that he would impose punishing, so-called reciprocal tariffs on about 90 countries. Soon after, I spoke with Wedbush Capital analyst Dan Ives , who warned that the U.S. could be headed for economic disaster. Ives was far from alone in his alarm, and as markets swooned, Trump announced that he would delay the tariffs for 90 days. Since then, he has also extended a deadline for the European Union to negotiate before strict tariffs go into effect. Trump’s tendency to back off of his most extreme threats recently inspired a Financial Times writer to coin the phrase “ Taco trade ,” for “Trump Always Chickens Out.” But regardless of his reversals, Trump has imposed higher trade barriers than any president in decade

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