Two Figures to Consider in Tariff Anniversary Week: Supply Lines

March 30, 2026, 11:00 AM UTC

Welcome to Liberation Day anniversary week. On April 2nd a year ago President Donald Trump walked into the White House’s Rose Garden and set out to remake the global trading system by announcing he was erecting the largest tariff wall around the US economy seen in a century.

What has happened since is well-documented. Markets crumbled and then recovered when Trump delayed and scaled back his original duties. Which means to a certain audience a taco isn’t just a meal anymore. Thanks to Liberation Day (and Robert Armstrong of the Financial Times), “Trump Always Chickens Out” is the financial markets ...

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