Tariffs: The good, the bad and the hypocrites...

I break down the stock market controversy

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Stories I’m reading…

Eli Lilly sues two pharmacies making copycat Zepbound, Mounjaro - via CNBC

Doug Emhoff publicly criticizes his law firm for coming to agreement with Trump administration - via CNN

In Burisma Letter, Hunter Biden Sought Support from State Department - via The New York Times

Supreme Court, in a win for Trump, lets admin cancel $65M in teaching grants - via Politico

EXCLUSIVE: Trump Admin Freezes Hundreds Of Millions Of Dollars To Another Ivy League School - via Daily Caller

Senate unveils new blueprint for mega-MAGA package - via Axios

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Tariffs: The good, the bad and the hypocrites

If you’ve tuned in to any mainstream or social media in recent days, you’ve probably gotten the impression that America is going through an unprecedented economic apocalypse.

And to be honest, watching the markets can be a bit unsettling right now.

What’s going on?

A couple weeks ago I talked about the rationale behind Trump’s tariffs: returning manufacturing to America and leveling the global economic playing field.

On April 2, “Liberation Day,” these reciprocal tariffs went into effect, putting other countries on notice that the U.S. is no longer going to be walked over.

In the wake of these tariffs the stock market took a dive — a predictable result and something that Trump warned would happen short term.

Here’s the thing.

While the talk of restoring American greatness is easy to swallow, the process of getting there is not going to be easy. After years of dependency on foreign countries and outsourcing manufacturing, the return to an America-first economy is going to come with some growing pains.

That hardly means it’s not worth it, or that these policies aren’t working.

It just means that when it comes to the economy, we aren’t going to get the kind of instant gratification fix that we want.

The short term pain that people are feeling in the stock market is real, and it’s certainly unfortunate.

But does it warrant the kind of reaction we’ve seen on the Left?

Democrats and the mainstream media have both univocally condemned Trump’s use of tariffs, as well as raised wild alarms that recent stock market trends are a precursor to a new Great Depression.

(For an interesting bit of context, check out this 1996 clip of Nancy Pelosi discussing tariffs and the trade deficit with China)

What’s their angle?