The President undid a few things yesterday with a single post on Truth Social. It sparked a market rally of almost 10% in the S&P 500. The “Reciprocal” Tariff rate will now be 10% for every country other than China. That is much more in line with the effective tariff rates that face the U.S. Not truly “reciprocal” but close enough. The tariffs won’t go into effect for 90 days, giving time to negotiate. My view is that many countries would have reduced tariffs via negotiations anyway. Tariffs are only one part of the reason why exports to various countries ... Liberation Day Do-Over