There’s a new tariff in town, and according to Stephen Colbert, it’s a “clustermunch of biblical proportions.” On Thursday, President Trump announced that he plans to impose tariffs of 25% on imported steel and 10% on aluminum. The move already made the markets plunge, or as Colbert described it, “It sunk like an anchor made of solid, American steel.”
On his CBS Late Show yesterday, Colbert said he thinks Trump made the decision because, like the rest of us who collected steel company CEO trading cards back in the day, Trump is “nostalgic for the days of Big Steel.” He also noted that steel tariffs might be Trump’s “best idea since give teachers guns.”
Colbert is not alone in side-eyeing the president’s tariff plans. The Wall Street Journal editorial board called it the “biggest policy blunder” of Trump’s presidency.