Trump massively raise prices

The day is here:

President Trump’s punishing new tariffs on more than 90 countries snapped into place after the stroke of midnight Thursday, the latest escalation in a global trade war that has started to exact a toll on the U.S. economy.

Few of America’s major trading partners were spared under Mr. Trump’s updated slate of duties, which together have sent the average effective U.S. tariff rate to its highest level in nearly a century. In the hours before the import taxes took effect, the president signaled there would be more to come, as he doubled down on a strategy that has rattled markets, driven up prices and spooked consumers and businesses around the world.

Mr. Trump announced the new rates in a series of executive orders he signed last week, some of which formalized the preliminary trade agreements that he had reached in recent days with the European Union and other countries. The president has long maintained that these levies would help reset trade relationships that he deems unfair, raise new revenue for the U.S. government, spur more U.S. manufacturing and achieve other goals.

I would once again like to note that these tariffs fall far outside the scope of the purportedly authorizing legislation, which if the Supreme Court of the United States was any kind of court of law could be quite significant.