So much for the tariff strategy. American companies and consumers are footing the bill—not foreign nations. Yet somehow, the promised job creation and manufacturing boom never materialized. Instead, we're seeing the opposite: employment contracted, domestic production faltered.

Turns out, slapping tariffs on imports doesn't automatically resurrect factories or boost hiring. The numbers tell a different story than the promises. When you squeeze supply chains and raise costs for businesses, they don't expand—they retrench. Workers feel it first. This is basic economics, yet it keeps getting oversold as the silver bullet.

The real question: what does this mean for the broader economy and asset markets heading into the next cycle?