Trump's 'Liberation Day' is no cause for panic. Here are 5 reasons why

The stock market has been throwing a temper tantrum over the Trump tariffs. The beatdown could get worse because President Donald Trump is expected to announce another round of import tariffs on Wednesday. 

The liberal media and Democrats in Congress -- many of whom once supported tariffs -- are feeding the flames.  They hate Trump and want to see him fail. But is the market downgrade of American companies to the tune of roughly 10% a rational response to Trump’s trade restrictions? 

I am an economist, not a stock market sage, but it is worth a reminder that despite some higher tariffs imposed by Trump in his first term -- which caused temporary stock sell-offs -- those effects were truly transitory. The market later surged month after month.  On average, stocks rose by roughly 60% in four years.  Not a bad return.