'Wow': CNN panelists try to breakdown Trump's mind boggling tariff 'whiplash'
CNN's Dana Bash opened Inside Politics Tuesday with a chart explaining the "Trump Tariff Whiplash" that led to the Dow Jones and S&P 500 indices declining nearly 1 percent on top of the markets' "worst day of the year" Monday. According to the chart, Trump first announced tariffs against Mexico, Canada, and China on Jan. 31, with more actions taken, including month-long delays on imposing the tariffs throughout February and March that allowed the market to recover before dropping precipitously again Monday. That all led to Tuesday, when Trump announced he was doubling tariffs on Canadian steel and aluminum to 50%, causing the stocks to tumble once again. "You catch all that? Wow," Bash said after introducing her panel. "It is confusing. It is uncertain. It is trademark Donald Trump to govern by chaos, as we've said time and time again. But it is also trademark Donald Trump to care about the markets." "Well, I think that's why you saw some of that whiplash," said political director David Chalian. "Some of that was in response to the markets, right? Not just to inject chaos for chaos's sake. I know he told reporters last week he doesn't watch the markets...There's absolutely no truth to that." ALSO READ: 'Absolutely unconscionable': Ex-Republican demands Trump removed from office after fight Chalian said he's talked to "Wall Street folks, both supporters of the president and not supporters of the president," who confirmed there's a "real concern that there is not a long term plan here." Bash then read a quote from the chief market strategist for a wealth management company. "Here's what he said to CNN earlier today. 'This market is just blatantly sick and tired of the back and forth on trade policy. It feels as though the administration continues to move the goalposts. With that much uncertainty, it's impossible for investors to have any confidence." Panelist Jeff Zeleny added, "That sums it up right there." He continued, "In talking to Republican, largely supporters of the president on Wall Street this morning, a couple asked, 'Is he trying to intentionally spark a recession to bring down interest rates?' Those are actual questions being asked. I would be. That's very risky, and I doubt that's the case." Zeleny said that the lack of communication from any Trump administration officials about what's happening with the economy was "unusual." "For a president who loves to talk about records, ones that are true and ones that are fabricated, this is a record that he did not want — the record yesterday of the worst day on Wall Street, and it could be repeated today." Watch the clip below via CNN.
CNN's Dana Bash opened Inside Politics Tuesday with a chart explaining the "Trump Tariff Whiplash" that led to the Dow Jones and S&P 500 indices declining nearly 1 percent on top of the markets' "worst day of the year" Monday.
According to the chart, Trump first announced tariffs against Mexico, Canada, and China on Jan. 31, with more actions taken, including month-long delays on imposing the tariffs throughout February and March that allowed the market to recover before dropping precipitously again Monday. That all led to Tuesday, when Trump announced he was doubling tariffs on Canadian steel and aluminum to 50%, causing the stocks to tumble once again.
"You catch all that? Wow," Bash said after introducing her panel. "It is confusing. It is uncertain. It is trademark Donald Trump to govern by chaos, as we've said time and time again. But it is also trademark Donald Trump to care about the markets."
"Well, I think that's why you saw some of that whiplash," said political director David Chalian. "Some of that was in response to the markets, right? Not just to inject chaos for chaos's sake. I know he told reporters last week he doesn't watch the markets...There's absolutely no truth to that."
ALSO READ: 'Absolutely unconscionable': Ex-Republican demands Trump removed from office after fight
Chalian said he's talked to "Wall Street folks, both supporters of the president and not supporters of the president," who confirmed there's a "real concern that there is not a long term plan here."
Bash then read a quote from the chief market strategist for a wealth management company.
"Here's what he said to CNN earlier today. 'This market is just blatantly sick and tired of the back and forth on trade policy. It feels as though the administration continues to move the goalposts. With that much uncertainty, it's impossible for investors to have any confidence."
Panelist Jeff Zeleny added, "That sums it up right there."
He continued, "In talking to Republican, largely supporters of the president on Wall Street this morning, a couple asked, 'Is he trying to intentionally spark a recession to bring down interest rates?' Those are actual questions being asked. I would be. That's very risky, and I doubt that's the case."
Zeleny said that the lack of communication from any Trump administration officials about what's happening with the economy was "unusual."
"For a president who loves to talk about records, ones that are true and ones that are fabricated, this is a record that he did not want — the record yesterday of the worst day on Wall Street, and it could be repeated today."
