Summary
Trump administration officials warned Sunday that markets should not expect relief from upcoming tariffs, despite a $6 trillion stock market drop late last week.
Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent affirmed the tariffs would take effect Wednesday, with no negotiations planned.
Officials dismissed concerns over market volatility, insisting the policy aims to benefit American workers.
Economists warn the tariffs could trigger inflation, slower growth, and recession.
He’s already made statements asking the Fed to lower rates (not that that’s the correct fix). As usual all signals are crossed, no one really knows yet… including the people who are supposed to be in charge. These sort of statements we can ignore until there’s some substance beyond just “administration says”.