Morning Jolt: Here Come the Trump Tariffs

TODAY'S JOLT IS SPONSORED BY
1517.ORG

WITH JIM GERAGHTY

November 26 2024

On the menu today: Is the news week slowing down as we approach Thanksgiving, or — as the retailers think of it — "Black Friday Eve"? Ha! This news cycle is more stuffed than the turkey your mom was supposed to take out of the freezer yesterday. President-elect Donald Trump announces his plan for new tariffs on Canada, Mexico, and China on Truth Social; Jack Smith drops the federal cases against Trump; and why there's less to the buzz about Elon Musk buying MSNBC than meets the eye.

Tariff Worries

It feels like it was just yesterday that we were being assured that Trump's selection of hedge-fund executive Scott Bessent to be his next Treasury secretary was a sign that this administration wouldn't go full protectionist, and that his policies would reassure the markets:

Business leaders say they are relieved President-elect Donald Trump made a safe choice to lead the Department of Treasury after more unconventional selections to other cabinet posts. . . .

"There's huge relief," said Jeffrey Sonnenfeld, founder and president of the Yale Chief Executive Institute. "Bessent is reasonable and pragmatic. . . ...

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