Is Donald Trump tanking the economy?

The stock market has taken a beating, giving up six months of gains in the past three weeks. Several economic indicators — consumer confidence, GDP estimates — have gotten gloomier.

All signs point to the main culprit being Trump and his trade war obsession. The markets have spoken loud and clear that they hate Trump’s tariffs. Even more than the tariff levels themselves, it may be the uncertainty over what Trump will do that is driving fear among investors, since this makes it very difficult to do business planning.

Still, while it seems clear Trump is making the economy worse, it’s not yet clear just how much worse he’s making it. There is more to life — and the US economy — than Trump and the stock market, and several major indicators continue to suggest things are in decent shape.

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