Wall Street comes to a painful realization: Trump was serious about steep tariffs all along

Donald Trump spent his 2024 campaign offering clear promises about tariffs on a nearly daily basis that were often downplayed by investors, perhaps because of the sheer size and scope of what he pledged to do.

As president, he showed the markets and everyone this week that he was serious all along. His actions — if maintained — mark a fulfillment of some of his most oft-repeated campaign trail promises almost down to the letter...