Trump's tariff turmoil: White House in chaos ahead of April 2nd
- "No one knows what ... is going on," said one of the people close to Donald Trump, assessing the situation before the so-called "liberation day" in the U.S., announced for April 2nd. That's when new tariffs are supposed to be introduced. And that's basically all that's known. Even J.D. Vance, someone so close to Trump, doesn't know much more about it.
- The White House is reportedly mired in informational chaos before Trump's announced "liberation day".
- The confusion revolves around the extent and which countries Trump intends to introduce additional tariffs.
- Even the closest associates of the president are said to be unaware of the matter and expect that the implementations could worsen the state of the economy even more.
"No one knows what ... is going on" - that's how one of the closest people to Donald Trump, quoted anonymously by Politico, described the situation in the White House. The lack of information concerns, among other things, market regulations and tariffs, which the U.S. president already announced for April 2nd.
- What are they going to tariff? Who are they gonna tariff and at what rates? Like, the very basic questions haven’t been answered yet - indicated a Politico informant, illustrating the chaos caused by Trump's recent announcements.
The U.S. president's radical economic decisions are causing evident concern among his advisors. Politico writes that even Vice President J.D. Vance and Chief of Staff Susie Wiles reportedly admit that they are not sure what Trump's next steps will be.
Is Trump's confidence just for show?
"The White House is projecting confidence publicly" - write Politico journalists. Nevertheless, many administration officials and top allies from outside fear that the implementation of the new regulations next week could be just as difficult as imposing tariffs on Canada, Mexico, and China.
Introducing tariffs, which Trump calls "Liberation Day," could — according to Politico journalists — further worsen the economic situation, which has been deteriorating since the administrative change in Washington. Although the stock market has bounced back a bit recently, the situation is still dire.
As the Department of Commerce revealed on Friday, inflation rose last month at a rate higher than expected, even before the potential influx of higher prices resulting from massive tariffs.
"Liberation day" in the U.S
What exactly has Trump planned for April 2nd? He said it would be a "liberation day." However, what that means is unknown to anyone. More tariffs can be expected, which the U.S. president called "reciprocal," as they are supposed to — at least in theory — equalize the rates applied by other countries. However, it's unknown which specific countries will be affected.
When asked if anyone could avoid the tariffs, Trump suggested that they could.
- I may give a lot of countries breaks. It’s reciprocal, but we might be even nicer than that, - he said at the announcement of Hyundai's plant construction in Louisiana. He assessed that the Korean giant's announcement is proof that the tariffs imposed by his administration are effective.
- I think it would be a mistake to think next week all of a sudden we’re going to get a bunch of clarity - said Tom Graff, Director of Investments at the financial advisory firm Facet, to Politico. - I’m sure they’re trying to reset with financial markets and build some certainty, but I don’t think the president is going to have a personality transplant - he joked.
