Market Madness: Do the best-laid plans sometimes get reversed?

March Madness may have ended, but Market Madness went into effect shortly after Trump announced “reciprocal tariffs” — some over 100% — on imported goods from dozens of countries. Stocks plummeted. Republican figureheads like Ted Cruz spoke out against the sweeping plan. According to Trump, his move became a success once global leaders started offering new trade deals. Then, just hours after the tariffs went into effect, Trump declared a 90-day pause on most of them, excluding China. While the market is still on shaky ground, Trump says it bounced back due to his “master negotiations.” Is the everyday American feeling the relief he claims? 

Meanwhile, prices are still rising. Voters yearn for the days when households could survive on a single income and eggs didn’t cost an arm and a leg. Even with an unfavorable economy, Trump framed his initial tariff plan as a path back to the old American Dream. Is that still possible? Or are we blinded by nostalgia? 

However, it makes sense for voters to cling to the past when facing the political and economic uncertainty of the future. But how should we go about it? America’s got a complicated past. According to the culture wars, the right believes the “greatness” of the past focuses on economic prosperity, and the left says the “greatness” of the past came at the cost of certain minority groups. Do we need to resolve a definition of American greatness?