The Memo: Trump tries to navigate out of tariff turmoil
President Trump sought to find his way out of a maze of his own making on Wednesday, offering opaque comments as to what he is going to do about tariffs.
The tariff issue has dominated the political scene since April 2, when Trump announced much heavier levies than expected on numerous nations.
Trump hailed the move as “Liberation Day.” But it has reverberated to his detriment, with stock markets falling sharply, the bond market becoming turbulent and the dollar’s value eroding.
Those shifts have been accompanied by worrying poll numbers for the president regarding his economic stewardship.
Now the question is how Trump gets himself out of the trouble he has got himself into. He will want to do so without leaving the impression of an obvious climbdown or a confession of error.
His approach, so far, has comprised remarks that zigzag in their tone and intent, leaving lots of room for interpretation.
On Wednesday afternoon, Trump struck a harder tone than he had the previous day.
In lengthy remarks to reporters in the Oval Office, he suggested tariffs on Canada would be maintained "but that could go up in terms of cars" — despite U.S. automakers warning that their supply chains involve frequent crossings back and forth over the northern border.
“We don’t want your cars, in all due respect,” Trump said in relation to Canada. “We want really to make our own cars.”
More importantly, Trump doubled down on the idea that tariffs could help spark a rebirth in American manufacturing.
Regardless of whether one accepts........
© The Hill
