1. “Trade wars are good.”

That was President Trump in an early-morning tweet, a day after he stunned the markets, his fellow Republicans and even his own advisers by announcing stiff tariffs on steel and aluminum imports. He added that such wars are “easy to win.”

Our economics reporter broke down the reasons — and risks — behind the move.

And the European Union hit back. A top official with the bloc vowed to slap tariffs on Harley-Davidsons, Kentucky bourbon and jeans if the White House goes through with the plan. Above, steel imports in Houston.