Trump sent global stock markets sliding when he announced tariffs on all imports from China, Canada and Mexico over the weekend. Originally set to take effect on Tuesday, the tariffs imposed on both Canada and Mexico on Monday were delayed for 30 days after multiple conversations between Trump and the leaders of both nations.

Donald Trump has incoherent and unhinged beliefs about trade policy. He also has a penchant for pretending to be a “crazy guy” for the sake of increasing his leverage in negotiations. This made it difficult to tell whether his proposal for an across-the-board 25 percent tariff on Canadian and Mexican imports was sincere.

The tariffs, which also target China, are scheduled to go into effect Tuesday. They prompted immediate efforts to retaliate.