After Trump’s big Rose Garden moment announcing sweeping new tariffs, the stock market did what it does best in a panic: plummet. Investors aren’t buying the “Liberation Day” branding—and neither are we.

Don breaks down the economic fallout from yesterday’s announcement, the real-world impact on American consumers and businesses, and whether Trump just declared a trade war on the U.S. economy.

Learn more about your ad choices. Visit megaphone.fm/adchoices