Trump’s tariffs upend 80-year-old world economic order, and it will cost us all

It is impossible to overstate how significant this week’s events have been for the global economy. Donald Trump’s rambling press conference in the White House Rose Garden on April 2, 2025, may soon come to be seen as the most significant financial event since the Lehman Brothers bankruptcy on September 15, 2008. It’s possible history will ultimately judge it as even more significant. Most analysts and traders have assumed that Trump is using tariffs as a bargaining chip to force concessions from other nations. As an example, the financial press jumped upon comments the president made on Air Force One…