There's plenty of risk in a president calling for such a broad range of tariffs, but there's even more in a market that doesn't seem to believe him.
Tip O'Neill would have understood.
The interaction of public and market opinion will do more to shape American foreign policy over the next four years than anything Donald Trump or Xi Jinping want to accomplish.
Does anyone else think this is one of the strangest answers we've had in a long time from a Treasury Secretary? A jumbled, four-part answer that includes the deep insight that "the dollar is weak or strong against something else"? If the markets weren't reacting to jobs numbers, DOGE & Congressional budget dysfunction, this would be much bigger news!
Excellent reminder from David Skilling that there’s a big world out there beyond what’s going one in Washington!
The best way to understand this administration's flurry of initiatives may be as “palindrome policy:” they make sense in more than one direction at once.
What's your theory of the case?
Any guesses on when these tariffs get repealed? This month? This week? Today?