President Trump’s approach to setting tariff rates is causing anxiety in the business community, with the trickling flow of letters to trad​e partners exacerbating concerns over hits to the

US stock markets experienced a slight downturn following President Trump's announcement of new tariffs on EU and Mexico goods, sparking trade tension concerns. Despite this, major indexes remained near record highs as investors anticipated potential negotiations before the August 1 deadline.

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.

The newspaper's conservative editorial board also hit the president with a cold truth about his tariff strategy.