He slapped tariffs of 25% on goods coming from Mexico and Canada, tariffs of 10% on Canadian energy, and tariffs of 10% on goods coming from China. He said he was doing so to force Mexico and Canada to do more about undocumented migration and drug trafficking, but while precursor chemicals to make fentanyl come from China and undocumented migrants come over the southern border with Mexico, Canada accounts for only about 1% of both. Further, Trump has diverted Immigration and Customs Enforcement agents combating drug trafficking to his immigration sweeps.

As soon as he took office, Trump designated Mexican drug cartels as foreign terrorist organizations, and on Friday, Secretary of Defense Pete Hegseth responded that “all options will be on the table” when a Fox News Channel host asked if the military will strike within Mexico. Today Trump was clearer: he posted on social media that without U.S. trade—which Trump somehow thinks is a “massive subsidy”—“Canada ceases to exist as a viable Country. Harsh but true! Therefore, Canada should become our Cherished 51st State. Much lower taxes, and far better military protection for the people of Canada—AND NO TARIFFS!”

Trump inherited the best economy in the world from his predecessor, President Joe Biden, but on Friday, as soon as White House press secretary Karoline Leavitt confirmed that Trump would levy the tariffs, the stock market plunged. Trump, who during his campaign insisted that tariffs would boost the economy, today said that Americans could feel “SOME PAIN” from them. He added “BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.” Tonight, stock market futures dropped 450 points before trading opens tomorrow.