Trump’s Tariff Shift Still Has Markets, Industries Panicked (1)

President Donald Trump is casting his latest tariff plan as a strategic win. Markets and business leaders only see more chaos ahead.

Stock plunged on Thursday, as anxiety spiked among investors again worried an extended period of trade hostility could devastate the global economy. That washed away a half-day of euphoria on Wall Street on Wednesday after Trump paused higher tariffs on dozens of nations.

As the dust settled the next morning, the scope of Trump’s trade war was driven home anew when the White House published an order clarifying Trump’s second-term China tariffs would be at least 145%. Even ...