Donald Trump’s allies, supporters and donors, led by Elon Musk, push to end tariff war

What s preponderance striking about President Trump s tariff war is that he s being pressured by selected of his closest advisers and supporters to end the crusade that has upended the world financial sector It s not just media conservatives like Ben Shapiro Rich Lowry Ben Domenech and the Wall Street Journal editorial page It s longtime wealthy donors like Ken Langone co-founder of Home Depot who denounced the tariffs and cited the percent levy on Vietnam as an example of bull telling the Financial Times that right now what everybody s terrified of is a pact war Another billionaire hedge fund investor Bill Ackman commented The consequences for our country and the millions of citizens who have supported the president are going to be severely negative Jamie Dimon CEO of JP Morgan announced whether or not the menu of tariffs causes a recession remains in question but it will slow down rise WHITE HOUSE SAYS BEIJING MISSED DEADLINE TO LIFT RETALIATORY TARIFFS US TO HIKE CHINA TARIFFS TO The majority famous defector is Elon Musk who according to the Washington Post privately urged Trump not to go ahead with the sky-high tariffs Now he s gone masses Ideally both Europe and the United States should move to a zero-tariff situation effectively creating a free bargain zone between Europe and North America Even the world s richest man and chief budget cutter couldn t convince the boss and he is off the reservation Musk is also taking shots at the strongest tariff booster in the White House Peter Navarro calling him truly a moron dumber than a sack of bricks and in a particularly juvenile jab Peter Navarrdo The aforementioned Navarro you ll be happy to hear went on Fox and guaranteed there will be no recession So you can all resume regular breathing It doesn t help Trump that after an early rebound rally the previous evening ran out of gas the Dow dropped another points after a dramatic decline that has decimated people s stock holdings and -Ks The Constitution by the way says Congress is in charge of tariffs Almost no one is safe including Bibi Netanyahu who came to the White House on Monday in a ring-kissing gesture has imposed no levies on the U S but still got hit with a percent tariff Against Israel our chief ally in the Middle East and the region s only democracy And the escalation with China our biggest adversary was predictable Trump had hit Beijing with a percent tariff including an earlier percent levy Beijing hit back as promised with a percent tariff on U S goods battling what it calls blackmail Wouldn t we have done the exact same thing if the roles were reversed But Trump acted as though he was personally insulted and is now vowing an additional percent tariff on the Chinese This is how exchange wars spiral out of control And China has cut off negotiations on the sale of TikTok to an American owner Media blunders also fueled the industry s volatility On Monday Bloomberg that is someone identified as Walter Bloomberg not connected to any news outlet posted this HASSETT TRUMP IS CONSIDERING A -DAY PAUSE IN TARIFFS FOR ALL COUNTRIES EXCEPT CHINA This goosed the stock industry Except that Kevin Hassett director of the White House economic council never stated that But CNBC morning anchor Carl Quintanilla stated viewers I think we can go with this headline Apparently Hassett s been saying that Trump will consider a -day pause in tariffs for all countries except for China Reuters then ran with this headline Wall Street reverses unit after Hassett s comments on tariff pause What Hassett certainly announced when petitioned on Fox if Trump would consider a -day tariff pause I think the president is gonna decide what the president is gonna decide Not exactly the same thing But the realm shot up The wire amenity later admitted the mistake Reuters has withdrawn the incorrect description and regrets its error TRUMP EYEING RD TERM KEEPS ATTACKING ELITE INSTITUTIONS AND A GREAT NUMBER OF ARE CAVINGA CNBC spokeswoman commented later As we were chasing the news of the region moves in real-time we aired unconfirmed information in a banner Our reporters expeditiously made a correction on air Meghan McCain posted a broader swipe against the media There are so multiple hypocritical talking heads on TV saying they don t care about losing money or being in financial pain for a while Largest part of you are married to finance bros come from rich families or have huge media contracts You have a cushion One of my best friends buys her groceries for her family based on what coupons each store has I assure you a workable recession or huge rise in prices everywhere will be a different experience for her family than you SUBSCRIBE TO HOWIE'S MEDIA BUZZMETER PODCAST A RIFF ON THE DAY'S HOTTEST STORIESIs there an exit ramp White House administrators say countries have been in touch seeking a negotiated settlement Various of class were doing that in the runup to Liberation Day The president could reach various of the settlements declare conquest and credit his tariff war At the moment he shows no inclination to do that having pushed the tariff idea since the s and repeatedly promising such an approach during last year s campaign I wrote a book on Wall Street and the media talked to plenty of top traders as well as business anchors and commentators I understand the hair-trigger nature of the way of life Everyone expected that Donald Trump would impose hefty tariffs just not at this stratospheric level