Self-styled 'Tariff Man' shocks Wall Street with tariffs

Contributing sentiments towards policy:

61% : It is especially notable that energy imports from Canada are in scope.
55% : Given the highly expansive use of presidential authority under the IEEPA, impacted parties are highly likely to seek an immediate temporary injunction, similar to the restraining order on federal spending last week.
53% : President Trump signed executive orders imposing a 25% tariff on imports from Mexico, a 25% tariff on imports from Canada apart from energy, which would face a 10% tariff, and a 10% tariff on imports from China.
52% : The White House has highlighted a "retaliation clause" in the executive orders that states that should one of the countries "retaliate against the United States in response to this action through import duties on United States exports . . . or similar measures, the President may increase or expand in scope the duties imposed under this order to ensure the efficacy of this action."
47% : Still, even if an injunction is granted, President Trump also holds authority to impose tariffs over multiple other executive avenues, as per our analysis of the trade memo that was released on the first day of the Administration.
43% : It's been fairly frequently remarked that markets seemed to believe that Donald Trump would do all the stuff that markets liked, and none of the things that markets don't like.
29% : As a reflection of just how suddenly Wall Street analysts have had to scramble to adjust to reality, Standard Chartered (presumably pre-written) Sunday Macro Strategy note said that "broader tariff concerns have come off the boil slightly as Trump appears heavily focused on domestic issues in his first few weeks".
24% : Trump has made an end to the self-delusion in markets, the media and in politics that his tariff threats should be taken with a grain of salt.
19% : At least Rabobank's Philip Marey doesn't mince his words:Perhaps the pundits who have been thinking that we could take Trump's tariff threats with a grain of salt, should actually start listening to what Trump says, instead of clinging to self-delusional interpretations.
19% : During the announcement, PM Trudeau confirmed that President Trump has not met with him since inauguration day, implying that there are no high-level communications.
9% : But StanChart's aren't the only optimistic analysts to have had their weekends ruined by Trump doing pretty much exactly what Trump has long said he would do (to be fair, even Trump's Treasury secretary seems to have been surprised).

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