Mr. Trump insists that these actions are his way of standing up for farmers and ranchers. Other nations such as Japan, China and India have charged higher tariffs than the U.S. for importing American farm goods.

The large service side of the economy grew in March at the slowest pace in nine months, reflecting government spending cuts and uncertainty among businesses spawned by U.S. tariffs. The service index compiled by the Institute for Supply Management dropped to 50.8% in March from 53.5% in the prior month.

Guess we’re really doing this, huh? Happy Thursday.

Economists and analysts have expressed concerns about the potential repercussions of these tariffs. There is apprehension that levies could hike consumer prices, disruptions in global supply chains, a