A Short Note

As the stock market continues to slide, Trump has a temper tantrum and orders that Canadian steel and aluminum tariffs be raised to 50 percent. This was in response to Ontario’s government slapping a 25 percent tax on electricity exports to the U.S. Today’s editorial pages are all robustly using the “R” word — recession. We aren’t in one yet, but it’s hard to see how we aren’t heading in that direction. Update: Apparently Ontario has backed off.

Trump is supposed to be meeting with a bunch of CEOs today. Maybe they’ll tell him to calm down about the tariffs. CNN is reporting that investors have had it with the tariff chaos. Trump obviously has no idea what he’s doing but still thinks tariffs are the magic pill that will make everything better.

Also, the House is expected to vote on the continuing resolution to keep the government funded later today.  No one knows if Speaker Johnson has the votes.

This morning I learned that blogger Kevin Drum died of cancer recently. You’ll remember his Friday Cat Blogging as well as his commentary. He was one of the good ones.

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