https://edition.cnn.com/2025/04/03/politics/trump-tariffs-chaos-competence/index.html
“I think it’s going very well,” Trump told reporters Thursday, in the aftermath of his “Liberation Day” announcement the day before.
“It was an operation like when a patient gets operated on and it’s a big thing,” Trump said. “We’ve never seen anything like it. The markets are going to boom. The stock is going to boom. The country is going to boom.”
The conflicting messages and sense of drift posed fundamental questions of whether a presidential inner circle that critics have long said is delusional about the impact of a tariff war also has the competence to navigate out of the crisis.
“They know nothing,” veteran Wall Street trader Peter Tuchman told CNN’s Erin Burnett.
“The formula they used … it’s like apples, oranges, a couple of cashews divided by 10 times four.” He added: “None of it makes any sense and billions and trillions of dollars are being wiped out of the market on a day-to-day basis.
“It was nothing but blood on the streets.”
Wall Street traders may no longer trust Trump, but it will take more than a stock market slump to shatter the rare bond that the president enjoys with his base.
Past presidents have irrevocably severed trust with the public when they insisted on a reality that voters could perceive was false. This includes Lyndon Johnson’s insistence on expanding a war he was losing in Vietnam, George W. Bush’s denial when victory in Iraq degenerated into an insurgency and Joe Biden’s insistence that the chaotic exit from Afghanistan was a success.
Judging by their remarks on Thursday, Trump and Vance risk going down a similar road even as their situation promises to get worse.