1. United States
2. Ohio
3. Letter

The unprecedented and large-scale tariffs imposed on nearly all imported goods have sent shockwaves through the markets and economy. Dow futures plunged over 1,250 points as the sell-off continued, with the S&P 500 on the brink of a bear market. Oil prices have fallen sharply below $60 per barrel on fears the tariffs could trigger a recession. Steep declines in stock futures, cryptocurrency values, and impending price hikes for American businesses and consumers indicate substantial economic ramifications from the tariff actions. While aiming to address trade imbalances, the current scale and scope of these tariffs risk severely disrupting the flow of trade and economic growth. A more measured approach allowing for negotiation could help mitigate negative impacts on the markets, prices, and broader economy. Reconsidering the magnitude of the recent tariff actions would demonstrate responsiveness to the significant economic concerns they have raised.