Yet the market (as of July 11) isn't far off from its all-time high, and it doesn't seem to be poised for the same explosive sell-off that occurred in early April. Is the stock market underestimating Trump's tariffs?

On TheStreet Pro Stephen "Sarge" Guilfoyle asks whether yesterday's tariff letter to Canada was one letter too many. You see, after President Trump shared the letter, which set a 35% tariff on goods not covered under the USMCA trade deal Trump brokered during his first term,

Investors are digesting Trump's stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies.