CNN —
To hear President Donald Trump tell it, Thursday’s new tariffs announcement was a significant and sweeping order that will bring the world to heel. But the plan, as it were, consisted of a vaguely worded memo that offered few concrete details and no real timeframe for when they will kick in.
Wall Street, which broadly hates tariffs, reacted with relief. The S&P 500 bounced 1% higher, the tech-heavy Nasdaq was up 1.5%, and the Dow rose 360 points, or 0.8%.
Trump started the day posting on Truth Social that Thursday’s announcement was
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