Donald Trump is seemingly not looking to change his mind about his tariff plan, set to be announced on April 2, according to Axios White House correspondent Marc Caputo. The measure, dubbed “Liberation Day,” could introduce reciprocal tariffs to counter levies imposed by other nations, including US allies Canada.
Caputo, speaking on CNBC’s Squawk Box on Monday, said that “Donald Trump is going to do what Donald Trump wants to do,” in reference to the upcoming announcement. He believes the US president wants to reshape America’s economy by increasing domestic manufacturing and reducing reliance on foreign imports.
“Donald Trump has been talking about making America first, restoring a manufacturing base similar to what we had in the 50s and 60s, and making sure that other countries don’t, quote, rip us off,” the Axios reporter explained.
Tariffs will be refined in accordance with the economy’s state
Caputo told CNBC that Trump may initially impose tariffs on other countries, but as he has shown several times in the last few weeks, he may refine them based on how it will affect the economy.
Axios reporter Marc Caputo talks Trump tariffs on CNBC.
“If that means Trump starts with a sort of blanket tariff and a blunt instrument, and then he withdraws it and kind of refines the blanket or hones the blunt instrument into a sharper tool, that’s what he’s going to do. And I think that’s probably the safest bet in understanding what Trump wants to do.” he reckoned.
Still, the reporter mentioned that implementing such a policy will involve several complexities. Now, how that looks and how well that gets done in a global industry, I’m not smart enough to say that. I’m not an economist, but that is ultimately where he’s going.“
Who is Donald Trump listening to?
Caputo also discussed the influences within the White House on the Trump administration’s trade policy. When asked who has Trump’s ear on tariffs, he listed multiple figures but said that none appear to have absolute control over the direction of policy.
“You have all these different sort of rival power centers in the White House,” Caputo remarked, mentioning names like Trump’s senior counsellor for trade and manufacturing, Peter Navarro, US Treasury Secretary Scott Bessent, and the Council of Economic Advisers.
However, he suggested that some advisers hold a more peripheral role, like Howard Lutnick, the US Secretary of Commerce. The Axios rep talked about the government official’s appearance on the All In Podcast last Thursday, particularly about his remarks on Social Security.
Lutnick said that elderly individuals who do not receive their Social Security checks and call in to inquire are merely “fraudsters.”
“Now, Trump was probably displeased about this,” Caputo said but added that despite the raspy comments, Lutnick met with Trump at the White House on Sunday.
Caputo described Lutnick as a somewhat isolated figure in the administration’s economic discussions. “By and large, Lutnick looks like a little more of a man out or an odd man out when everyone’s together,” he continued, “But what the final product looked like, no one has any idea.“
No recession yet: Hightower Advisors strategist
In related news, Stephanie Link, chief investment strategist at Hightower Advisors, also appeared on Squawk Box to discuss the latest market trends and reactions to tariff uncertainty. Link pushed back against economists’ claims of an imminent recession.
Stephanie Link on CNBC’s Squawk Box
Stephanie Link on CNBC’s Squawk Box says the US is not out of the woods yet, and volatility will continue.
“I do not think that we are headed into a recession. I do not think we are in a recession,” she said, backing her claims with indicators such as housing data and industrial production. She pointed to recent figures showing a 4.2% month-over-month increase in existing home sales and an 11% rise in housing starts.
Still, even with several signs of the markets’ resilience, Link noted that consumer sentiment is weak, as spenders are unsure of what tariffs will do to the economy in the long run. She remains focused on corporate earnings, expecting growth of around 9-10% this year.
“Some stocks are down so much in the last couple of weeks or even year to date that I’ve been picking away,” she surmised, revealing that she had reduced her cash holdings from 9% to 3% in recent weeks to look for better investment opportunities.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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