Trump changes tack on some tariffs, but steel, aluminium remain

The president wants American growth and American prosperity, OK? And the fact that the stock market goes down half a percent or percent, it goes up half a percent or percent, that is not the driving force of our outcomes,

Lutnick said on CNBC Thursday

This is very much about companies and countries that have ripped off this country, our country, our beloved United States. And they're not going to be ripping us off any more. So, you know, I think that has an impact on the market,

the president added

I think it's globalists that see how rich our country's going to be and they don't like it. Big market out there. But again, they've been ripping off this country for years. And they're going to do great — everyone's going to do great. But we can't let this continue to happen to America. Otherwise we're not going to have a country any longer,

the president said

No, they will not be modified,

Asked by reporters whether tariffs on these metals would be postponed, the president replied ... adding that

We have a deficit with Mexico of $350 billion.”

He said in a Fox News interview in February

Declining consumer confidence and uncertainty in the market is not very positive, and that's when something unexpected happens in the market,

said Stephen Dover, chief market strategist at Franklin Templeton Institute

My hunch is Trump ... is not going to want to shock the market,

said Mark Hackett, chief market strategist at Nationwide

As an administration, you're kind of playing with fire here,

said George Cipolloni, portfolio manager at Penn Mutual Asset Management

Trump has been a long-time advocate for using the stock market as a metric for the health of the economy, so this is a fairly drastic shift,

said Ben Harris, vice president and director of economic studies at Brookings, who recently served as chief economist at the U.S. Treasury Department

Today, interest rates took a beautiful drop - big, beautiful drop - it's about time,

Trump said on Tuesday

They're more sensitive to a broader set of asset classes, and I think that might mean that ultimately they have more levers to pull when and where they need it,

she said

Maurice Obstfeldamerican economist

It is low national saving coupled with robust investment that drives the U.S. external deficit,

Maurice Obstfeld, a senior fellow at the Peterson Institute for International Economics, wrote in Financial Times

Massive Trade Deficit with the World, just announced, compliments of Sleepy Joe Biden! I will change that!!!

Trump posted Thursday morning on Truth Social

Tariffs are about making America rich again and making America great again,

he said

We’ve had two days of volatility in the markets, and everybody’s hair is on fire,

Navarro said

Rand Paulsenator

The problem with using them as a negotiation also is that they negotiated: Mexico gave them something, and then they still put them on,

Paul added

It’s the greatest show on Earth. We’ll put tariffs on tonight, but tomorrow we’ll tell you we may negotiate and take them off,

a person close to the administration, granted anonymity to discuss internal conversations, told POLITICO

Karoline Leavittwhite House press secretary

Last night the president told the truth, and he was realistic, and he level set with the American people,

Leavitt said

If you put a gun to his head, Lutnick’s on the no-tariff side, believe it or not,

the person said

Businesses rely on stability and certainty in order to innovate and compete,

Johnson said