Donald Trump’s wild tariff moves are freaking out his own advisers, who are getting panicked messages from business leaders.
The Wall Street Journal reports that Trump administration officials, including his chief of staff, Susie Wiles, are getting worried phone calls from CEOs and lobbyists hoping to get the president to lay out a specific economic agenda regarding tariffs. Several have stopped trying to get Trump to back away from his approach on tariffs, appealing to the White House for a clearer message instead.
On Monday, Trump met with CEOs from IBM, Qualcomm, HP, and other tech companies, who warned the president that tariffs could hurt their industry, the Journal reported, citing an unnamed source. Trump told reporters that the topic of the meeting was investing in the United States.
The various messages coming from the White House have also spooked Republicans who think Trump doesn’t have a coherent plan on the economy. Trump has refused to rule out a recession and indicated that tariffs could hurt the average American, and as a result stocks have plummeted. All of the market’s gains since his election have been wiped out, and Trump has flip-flopped and carved out exceptions for his tariffs at the same time.
Trump economic staffers have gotten nervous, including people on the National Economic Council, who are worried that the president’s tariffs and lack of a clear economic plan are not only hurting the stock market but leading to price hikes across the country. Trump has not listened to their warnings.
Commerce Secretary Howard Lutnick appears to be out of the loop on some decisions, at one point saying on Fox News that Canada and Mexico could be close to a deal with the U.S. to avoid some tariffs. This caused chaos within the administration, and some officials managed to persuade Trump to pause tariffs on items that comply with the USMCA trade agreement for one month.
Nobody seems to know what Trump’s plan or his endgame for the economy appear to be. For now, the stock market continues to slide, prices are in flux, and everyone watching the news is on edge for whatever crazy idea Trump decides to go with in the short term. People are spending less, and businesses have no idea what to plan for.
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