Most notably in President Trump's tariff war, he is under pressure from some of his closest advisers and supporters to end the crusades that have overshadowed the world economy.
It's not just media conservatives like Ben Shapiro, Rich Raleigh, Ben Domenek and the edited pages of the Wall Street Journal. A longtime wealthy donor like Home Depot co-founder Ken Langone, who denounced tariffs and cited Vietnam's 46% collection as an example of “bulb****,” telling the Finance Times that “it's the trade war that's scary for everyone right now.”
Another billionaire, hedge fund investor Bill Ackman, said “The outcomes for our country and the millions of citizens who supported our president will be grossly negative.” “It remains a question of whether the tariff menu will cause a recession, but it will slow growth,” said Jamie Dimon, CEO of JP Morgan.
The White House says Beijing missed deadline to lift retaliation fees, US raises China's tariffs to 104%
The most famous exile is Elon Musk, who urged Trump to privately not to proceed with air tariffs, according to the Washington Post. Now he's published:
“Ideally, both Europe and the US should move to zero-charge situations and effectively create a free trade zone between Europe and North America.” The wealthiest man in the world, and even the highest budget cutter can't persuade his boss, he's separated from his reservations.
Musk also takes shots with the most powerful tariff booster at Peter Navarro in the White House, calling him “really stupid” and “more stupid than a brick bag,” especially in the boys' jabs.
In addition to ringing against President Trump's tariffs, Elon Musk threw several rhetorical punches at the stubbornly dominant Peter Navarro. (AP)
The aforementioned Navarro is happy to hear, and will go to Fox and ensure there is no recession. Therefore, you can all resume regular breathing.
After yesterday's rebound rally ran out of gas, the Dow dropped another 320 points after a dramatic decline in people's stockholdings and 401 ks, doesn't help Trump. By the way, I say that Parliament is in charge of customs duties in the constitution.
No one is safe, including Vivi Netanyahu, who came to the White House on Monday with a ringkiss gesture, but he still suffered a 17% tariff, despite not taxing the US. To Israel, our main ally in the Middle East and the only democracy in the region?
And the escalation with our biggest enemy, China, was predictable. Trump was struggling Beijing with 54% tariffs (including the previous 20% tax). Beijing, as promised, fought back on 34% tariffs on US goods, with what it was fighting against what it called a horrifying mail.
Have you ever done the exact same thing if your roles were reversed?
But Trump acted as if he was personally humiliated, and now he has pledged even more 50% tariffs on Chinese people. This is how the trade war has become out of control. China then cut off negotiations regarding the sale of Tiktok to American owners.
Media Brander also promoted market volatility. On Monday, Bloomberg, someone identified as Walter Bloomberg, posted this by someone who is not connected to the news outlet.
The media's failure, including those claimed by White House Economic Council director Kevin Hassett, said Trump was considering suspending tariffs for 90 days, but said market volatility has only worsened. (Andrew Haller/Bloomberg via Getty Images)
This expanded the stock market. Except that Kevin Hassett, director of the White House Economic Council, never said that.
However, CNBC Morning Anchor Carl Quintanira told viewers, “I think we can go with this headline. Apparently Hassett says Trump will consider a 90-day suspension of tariffs in all countries except China.”
Reuters then ran with this headline: “After comments on the suspension of Hassett's tariffs, Wall Street will reverse the course.”
When asked what Hassett actually said, whether Trump thinks 90-day tariffs will be suspended on Fox, “The President is going to decide what the President will decide.” It's not exactly the same. But the market has jumped.
Wire Service later admitted the mistake: “Reuters retracted the false report and regrets the error.”
Trump continues to attack elite institutions with his eyes on the third term – and many are in the caves
A CNBC spokesperson later said, “We were following the news of market movements in real time, so we aired unconfirmed information on the banner. Reporters quickly corrected it in the air.”
Meghan McCain posted a wider swipe to the media. “There are so many hypocritical talking heads on TV saying they don't care about losing money or feeling financially painful for a while. Most of you have sibling fundraising, coming from rich families, or getting media contracts.
“One of my best friends will buy groceries for her family based on the coupons each store has. I guarantee that recessions and large price increases everywhere will be a different experience than you.”
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Is there an exit lamp? White House officials say 70 countries are in touch to seek a negotiated settlement. Of course, some people did that in stages on “the day of liberation.” The president reached many settlements, declared victory and was able to trust his tariff war.
At this point, he has been promoting the idea of tariffs since the 1980s and has repeatedly promised such an approach during last year's campaign, indicating that he is not inclined to do it.
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I wrote books on Wall Street and in the media and spoke with many top traders, business anchors and commentators. I understand the nature of the hair triggers of culture. Everyone was hoping Donald Trump would impose a massive tariff instead of this stratospheric level.
