Asma Khalid

On Tuesday, the president told reporters that that rate is going to come down substantially.

On Tuesday, the president told reporters that that rate is going to come down substantially.

On Tuesday, the president told reporters that that rate is going to come down substantially.

No, he did not give an actual number. And frankly, even if the tariff rate comes down by double digits, you're still looking at rates that are unprecedented in our lifetime.

No, he did not give an actual number. And frankly, even if the tariff rate comes down by double digits, you're still looking at rates that are unprecedented in our lifetime.

No, he did not give an actual number. And frankly, even if the tariff rate comes down by double digits, you're still looking at rates that are unprecedented in our lifetime.

Yeah, I mean, it is. And there's really two main reasons for the shift. This tariff rate, you know, if they remain in place, they would virtually bring trade between China and the U.S. to a halt. But this is also fundamentally, Michelle, about the stock market and the economic uncertainty that Trump's tariffs have created.

Yeah, I mean, it is. And there's really two main reasons for the shift. This tariff rate, you know, if they remain in place, they would virtually bring trade between China and the U.S. to a halt. But this is also fundamentally, Michelle, about the stock market and the economic uncertainty that Trump's tariffs have created.

Yeah, I mean, it is. And there's really two main reasons for the shift. This tariff rate, you know, if they remain in place, they would virtually bring trade between China and the U.S. to a halt. But this is also fundamentally, Michelle, about the stock market and the economic uncertainty that Trump's tariffs have created.

You know, Trump initially acknowledged that there could be some sort of short-term economic pain, but that it would be worth it. And now you hear his team boasting that they're striking deals, that they're in conversation with some 90 countries. The Treasury Secretary was also out there this week trying to quiet market jitters.

You know, Trump initially acknowledged that there could be some sort of short-term economic pain, but that it would be worth it. And now you hear his team boasting that they're striking deals, that they're in conversation with some 90 countries. The Treasury Secretary was also out there this week trying to quiet market jitters.

You know, Trump initially acknowledged that there could be some sort of short-term economic pain, but that it would be worth it. And now you hear his team boasting that they're striking deals, that they're in conversation with some 90 countries. The Treasury Secretary was also out there this week trying to quiet market jitters.

And on a somewhat related note, the president also tried to alleviate fears that he himself had stoked last week when he suggested that he would get rid of Fed Chair Jerome Powell.

And on a somewhat related note, the president also tried to alleviate fears that he himself had stoked last week when he suggested that he would get rid of Fed Chair Jerome Powell.

And on a somewhat related note, the president also tried to alleviate fears that he himself had stoked last week when he suggested that he would get rid of Fed Chair Jerome Powell.

But ultimately, Michelle, I mean, much of the economic focus has been on tariffs. And specifically, when it comes to China, the president has been softening his tough posturing. He said this week he's not going to play hardball with China's President Xi Jinping.

But ultimately, Michelle, I mean, much of the economic focus has been on tariffs. And specifically, when it comes to China, the president has been softening his tough posturing. He said this week he's not going to play hardball with China's President Xi Jinping.

But ultimately, Michelle, I mean, much of the economic focus has been on tariffs. And specifically, when it comes to China, the president has been softening his tough posturing. He said this week he's not going to play hardball with China's President Xi Jinping.

I mean, we're not seeing any change in policy yet, despite the optimism that President Trump is projecting. China is, of course, one of the U.S. 's biggest trading partners. Anna Ashton was with the U.S.-China Business Council for years. And so yesterday I called her up. I wanted to get guidance on this all. And I asked her, you know, what is the off ramp here? And she did not sound optimistic.

I mean, we're not seeing any change in policy yet, despite the optimism that President Trump is projecting. China is, of course, one of the U.S. 's biggest trading partners. Anna Ashton was with the U.S.-China Business Council for years. And so yesterday I called her up. I wanted to get guidance on this all. And I asked her, you know, what is the off ramp here? And she did not sound optimistic.