Stock futures slide after Trump imposes tariffs

Justin Trudeauprime Minister

This will include immediate tariffs on $30 billion worth of goods as of Tuesday, followed by further tariffs on $125 billion of American products in 21 days’ time, to allow Canadian companies and supply chains to seek to find alternatives,

Canadian Prime Minister Justin Trudeau said on Saturday

Markets may now need to take the rest of Trump's tariff agenda literally rather than just seriously … If this new level of seriousness gets priced in suddenly, Monday could be a rough day for markets,

Wolfe Research head of U.S. policy and politics Tobin Marcus said in a note

Manu RajucNN host

This is a self-inflicted wound to the American economy, ... I’d expect inflation over the next three or four months to be higher as a consequence, because the price level has to go up when you put a levy on goods that people are buying.”

Summers told host Manu Raju on CNN’s “Inside Politics.”

Mr. Trump sometimes sounds as if the US shouldn’t import anything at all, that America can be a perfectly closed economy making everything at home

The WSJ board wrote

American consumers will feel the bite of higher costs for some goods.

On Friday, the right-leaning editorial board of the Wall Street Journal newspaper blasted Trump's tariffs in a piece titled 'The Dumbest Trade War in History,' saying

Leaving China aside, Mr. Trump’s justification for this economic assault on the neighbors makes no sense,

the WSJ board wrote

The “Tariff Lobby,” headed by the Globalist, and always wrong, Wall Street Journal, is working hard to justify Countries like Canada, Mexico, China, and too many others to name, continue the decades long RIPOFF OF AMERICA, both with regard to TRADE, CRIME, AND POISONOUS DRUGS that are allowed to so freely flow into AMERICA,

Trump wrote Sunday morning on Truth Social

We allow them to take lumber

Last month, Trump said of Canada specifically

If the president is going abuse this power to bully and coerce our allies, Congress should take this authority back,

Coons said in a statement

John Murphy (composer)senior vice-president

The imposition of tariffs is unprecedented, won’t solve these problems and will only raise prices for American families and upend supply chains,

the chamber’s John Murphy told CNN

Martin Luther King Jr.dr.

He’s using American workers as pawns in his petty political games. If a president promised that they’d help my family get by, and then they did this, I’d be pretty pissed off. So, you should be pissed off,

Martin said in a statement

I respectfully disagree with Hakeem on his approach, this 'we're gonna fight, we're gonna fight.' We're going to try to make common sense to how we work together. That’s what they should be talking about,

Manchin said

So let’s start talking about, 'I disagree respectfully. This is a better way, maybe try this.' But meet him halfway. And when not, just don’t vote for if you can’t,

Manchin went on

While President Trump remains focused on uniting our country and delivering the mandate set by the American people, the House Minority Leader, Hakeem Jeffries, incites violence calling for people to fight ‘in the streets’ against President Trump’s agenda,

Desai said in a statement

I do think the markets are going to react to this,

said Mark Malek, chief investment officer at Siebert Financial in New York

With any delay in implementation, there will be some view that this is still a negotiating ploy,

said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey

It's adding a lot of volatility to expectations because of the back and forth and the rhetoric on a daily basis,

said Leo Harmon, chief investment officer at Mesirow Equity Management

There's going to be a lot of good that comes through this,

Kingston said

This is one of these big geopolitical events that you can’t predict,

Graham said

If those tariffs come in higher than expectations... there could be a potential for a day or two of risk-off leadership in the market,

Harmon said