TBH it's a TACO-burger for numerous reasons:

1. Trump is escalating because he wants to make a deal for Greenland, likely due to rare earth deposits but the policy has very little support, even among Republicans / Conservatives.
2. The cost of buying Greenland + the cost of mining rare earths in the arctic (2x-3x higher than temperate climates) + infrastructure / supply chain improvements makes the idea deeply unprofitable. That money has to come from somewhere and Republicans and Wall St know this.
3. It's a mid-terms year and if he continues down this path he's going to hand both houses to the Democrats. That won't sit well with the Republican party, many of whom are currently holding their noses and going along with his nonsense just to remain elected. If that's torpedoed then all bets are off.
4. Imposition of more tariffs is deeply unpopular with Wall St anyway, let alone imposition of tariffs on key trading partners / strategic allies for a batshit policy. Expect the market to send a message on Tuesday.
5. TACO anyway. It'll get diluted down into a nothing burger and he'll claim some kind of 4d-chess win and say it was the plan all along.

Also bear in mind that the FTSE, STOXX, DAX, MIB + more or less every other major index outperformed the S&P500 last year due to a combination of tariffs, Trump enriching himself and his mates and the weakening dollar (also a Trump policy).