FORTUNE: Trump is knowingly steering the economy off the cliff with tariffs

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Jeffrey Sonnenfeld discusses Donald Trump reversing his plan with tariffs, returning to 20% tariffs and a 10% decline in the stock market over the last month in FORTUNE

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President Donald Trump speaks during a meeting in announcing the F-47 6th generation fighter jet in the Oval Office of the White House on Friday March 21, 2025. US Secretary of Defense Pete Hegseth and General David Allvin attended the meeting .Demetrius Freeman—The Washington Post/Getty Images

FORTUNE: Trump is knowingly steering the economy off the cliff with tariffs

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