Trump's "Liberation Day" tariffs implementation triggered a devastating market meltdown, with the Dow plunging over 1,600 points in its worst day since 2020. Over $2 trillion in market value vanished as investors processed the 10% universal tariff plus higher rates for 60 countries. Bipartisan Senate resistance emerged with passage of Rand Paul's bill blocking Canada tariffs, followed by a broader bill requiring Congressional approval for tariffs.
Global leaders vowed retaliation, with Canada announcing counter-tariffs on vehicles. Economic consequences materialized immediately as Stellantis announced 900 temporary layoffs, while some auto plants halted production.
The administration showed internal divisions when multiple National Security Council staffers were fired following an Oval Office meeting with far-right activist Laura Loomer. By evening, Trump remained defiant despite the market bloodbath, claiming "markets are going to boom" and that some countries were already "crawling back" to negotiate.