Markets have a lot bigger problems than mere messaging. From Ben Whedon at justthenews.com:
President Donald Trump’s tariffs have successfully brought at least 70 countries to the negotiating table, but the tumultuous market situation highlights a need for the administration to simplify the message to the public. And they seem to have coalesced around Treasury Secretary Scott Bessent’s approach of marketing them as a negotiating tactic.
The initial “Liberation Day” tariffs saw Trump impose sweeping “reciprocal” tariffs across most of America’s key trading partners and the creation of a baseline 10% tariff for other nations. Close trading partners such as Vietnam, Japan, South Korea and Israel speedily reached out to negotiate deals, with some even announcing the end of tariffs in anticipation of Trump’s initial announcement.
The market fell precipitously in the following days amid internal disagreements within the Cabinet on both messaging and the long-term approach. Department of Government Efficiency (DOGE) chief Elon Musk and Bessent became proponents of a negotiation-focused approach to the tariffs, while Commerce Secretary Howard Lutnick and economic advisor Peter Navarro favored the tariffs on their own merits.
The administration, however, froze the most expansive tariffs this week, with the exception of those on China, which Trump raised to 125%. Markets subsequently soared on the news, leading to higher closures for major indices. They fell again on Thursday as the administration stood by its China tariffs.
