Today, two Canadian Premiers have ignored Trump's pause on tariffs and have imposed their own retaliatory actions to show that they take his flip-flopping seriously.
Ontario Premier Doug Ford announced that Ontario will be putting a 25% surcharge on all electricity exports to the United States. This surcharge will impact American residents and is already in place, regardless of what happens with the United States' tariffs. Ford has noted that Ontario will not back down until the threat of tariffs from the United States is completely eliminated.
Second, British Columbia Premier David Eby announced that American liquor will be removed from the shelves of all liquor stores in British Columbia. When making this announcement, Eby highlighted the fact that this retaliatory action will be taken regardless of what happens in Washington, D.C.
Trump also received criticism from House Democrats quickly for how quickly he tanked one of the "strongest" stock markets ever via a scathing X post on Monday.
The Democratic Congressional Campaign Committee shared a post about the stock market tumbling since President Donald Trump took office on Jan. 20.
"Republicans inherited one of the strongest stock markets in history and in 1 month they've f--ked it all up," the DCCC stated.
The hashtag “#stockmarketcrash” trended on Twitter, as the public reacted to the downturn of Musk's Tesla stock price and subsequently, his net worth.
While investors watched in horror as the stock market plunged as a result of] Trump’s one-sided trade wars, he was busy reposting praise for his administration on Truth Social.
Trump posted 25 posts in SIX minutes, before noon, and then posted over hundred times between noon and 6 p.m. on Monday while the Nasdaq fell 4%, marking its worst day since 2022. The S&P 500 dropped almost 3%. He mostly reposted articles praising his administration on the tariffs that sent the markets spiraling, deportation operations, and his terrible 99-minute speech to Congress last week.
A White House official tried to downplay the stock market bloodbath on Monday afternoon.
“We’re seeing a strong divergence between animal spirits of the stock market and what we’re actually seeing unfold from businesses and business leaders,” said the official, who was granted anonymity, according to CNBC. “The latter is obviously more meaningful than the former on what’s in store for the economy in the medium to long term.”
Trump, however, appeared to justify investors’ fears on whether he was expecting a recession this year while refusing to give a straight answer about a recession during an interview with Fox, stating: “I hate to predict things like that. There is a period of transition, because what we’re doing is very big.”
It is clear from today's actions and consequences that the damage of Trump's tariffs has already been done.
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