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As the stock market tumbled, investors were left in a state of panic. Major companies like Apple and Tesla saw their stock values crashing, with losses in the hundreds of billions of dollars. However, Trump's administration sought to reassure Americans that the economy would rebound and that they were merely undergoing a healing process after a horrific "operation" — an analogy that many found far-fetched.
Justifications for the Tariffs
In defending the tariffs, Trump's administration highlighted the supposed unfairness of existing trade relations, arguing that other countries were "taking advantage" of the U.S. The tariffs were labeled as "reciprocal," but economists and pundits swiftly critiqued this justification for being based on faulty logic and dubious calculations.