Cabot Phillips

And while his base and allies are certainly holding strong, reminding folks of the economy's success during his first term, there's no doubt that markets are less than confident.

And while his base and allies are certainly holding strong, reminding folks of the economy's success during his first term, there's no doubt that markets are less than confident.

And we got an example of that volatility yesterday amid a fake headline saga, which was very interesting. What happened there?

And we got an example of that volatility yesterday amid a fake headline saga, which was very interesting. What happened there?

Yeah, a wild story. So around 10.10 yesterday morning, a large Twitter account posted that President Trump was considering a 90-day pause on all tariffs. By 10.15, five minutes later, a CNBC guest repeated the claim and markets soared, gaining literally trillions of dollars in value in literally minutes. The S&P 500 spiked 7%, going from down 4% to up 3%.

Yeah, a wild story. So around 10.10 yesterday morning, a large Twitter account posted that President Trump was considering a 90-day pause on all tariffs. By 10.15, five minutes later, a CNBC guest repeated the claim and markets soared, gaining literally trillions of dollars in value in literally minutes. The S&P 500 spiked 7%, going from down 4% to up 3%.

But moments later, the White House issued a statement calling the report fake news and markets fell right back down, erasing all of those gains. I spoke with Kenny Pocari, the senior market strategist for SlateStone Wealth, for his take on that swing.

But moments later, the White House issued a statement calling the report fake news and markets fell right back down, erasing all of those gains. I spoke with Kenny Pocari, the senior market strategist for SlateStone Wealth, for his take on that swing.

Pocari said that he thinks we've already seen the worst of the market drops.

Pocari said that he thinks we've already seen the worst of the market drops.

So a more measured take from Pocari. Now, the president also signaled Monday that he'd be willing to implement even more tariffs on China if they don't come to the table. What's he proposing?

So a more measured take from Pocari. Now, the president also signaled Monday that he'd be willing to implement even more tariffs on China if they don't come to the table. What's he proposing?

So rather than expressing an openness to a deal, as we've seen from dozens of other countries, China responded with 34 percent tariffs on American goods. President Trump expressed a willingness to go tit for tat in response.

So rather than expressing an openness to a deal, as we've seen from dozens of other countries, China responded with 34 percent tariffs on American goods. President Trump expressed a willingness to go tit for tat in response.

Officials in Beijing even accused President Trump of, quote, bullying their country. And in a remarkable twist, the Chinese embassy in Washington responded by posting clips of then President Reagan expressing his distaste for tariffs.

Officials in Beijing even accused President Trump of, quote, bullying their country. And in a remarkable twist, the Chinese embassy in Washington responded by posting clips of then President Reagan expressing his distaste for tariffs.

I never thought we'd see that. Yeah. So President Trump and his allies seem to remain in lockstep, but some in the GOP have begun to waver. What are we seeing on that front?

I never thought we'd see that. Yeah. So President Trump and his allies seem to remain in lockstep, but some in the GOP have begun to waver. What are we seeing on that front?

Right. A number of senators have crafted the Trade Review Act of 2025, a new bill that would require congressional approval for future tariffs. Among other things, the law would give Congress the power to dissolve unilateral tariffs issued by the president.

Right. A number of senators have crafted the Trade Review Act of 2025, a new bill that would require congressional approval for future tariffs. Among other things, the law would give Congress the power to dissolve unilateral tariffs issued by the president.