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Jason Furman
@jasonfurman
This is now much worse than a Liz Truss moment. After Truss unleashed chaos in UK markets she pulled back part of her proposal then fired her Chancellor & then pulled back the rest of it. None of that was enough for markets--until she resigned. How can we get out of this?
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Jason Furman
@jasonfurman
Half measures and delays won't work--there is way, way too much uncertainty that has been unleashed. The word of the President & his team won't work--they are not credible. The only option to eliminate uncertainty would be for Congress to pass a law by veto-proof margins.
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Bryan
@bryancsk
What if the American parliament threatens Prime Minister Donald Trump with a vote of no confidence?
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David Gaw
@davidgaw
That exact way would work—or impeachment and removal—but Truss had a sense of shame that President Trump may not—a shortcoming a disappointing number of congressional Republicans may share.
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🇺🇸 🔋Reasonable.Assurance🔋🇺🇸
@RsnblAssurance
Which market! The difference is Liz Truss pissed off the gilts market when their stock market was anemic The USA tariff situation is gold for the bond market but poison for equities
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Dan Edmonson
@dansedmonson
Congress. The tariffs are not long for the world, despite the market’s attempt to price in permanence. Enough will become enough…soon enough.
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Richard Farr
@farrmacro
Well if we get 5% mortgages and $50 oil I’m not sure I agree with you, Jason. It really depends on the international pushback. If Trump gets some wins and gets a bit more focused on China instead of our allies, this could turn out alright.
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Greg
@Relaxing1974
Mexico and Canada for unified trade union against eu and China, and eu and China lower barriers and tariffs.
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T.M.
@McQ8129
I see it more as a Marie Antoinette moment for modern day markets, but with capitulation instead of revolution.
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FullyAwake
@FullyAwake888
good point. she was ridiculed and the party rallied against her. the current admin does not understand the ridicule and no backbones in sight
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@TheLibProj
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john
@john23089884
The Donald could blame the whole thing on Navarro and Nudnick, fire them, take a step back and refocus on his golf game.
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kc.RBT
@KCRubix
Issue more short term treasuries to borrow and buy large caps as been done in the last few years at insanely high valuations? Does that still sound better?
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rohbear
@rohbear0
Impeach him.
@MikeJohnson
@johnthune
This isn't about Party loyalty anymore. I understand you guys don't care about ordinary Americans but it's time to get rid of this guy before he breaks something that can't be fixed.
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Momus
@Chthonium
The congress needs to claw back power to set tariffs. This is the only way. We need to pressure Republicans to reach veto proof majority.
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Ann Bauer
@annbauerwriter
Huge mistake. Truss did it wrong twice, once by overshooting and a second time by faltering and pulling back. If you're going to be a hard ass the only way you can do it is all-in, no equivocating. I don't have the stomach for it and don't like what Trump did. But he's stuck.
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azkate
@azkate13
Easy. The other countries need to drop their tariffs and other trade barriers.
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Yup
@LordGem3
I mean, the first step to solving any problem is recognizing that there is one? I agree that picking a lane and uniting Congress and the President is probably the best way to send a clear signal. I disagree that doesn't require a major change. Obviously, some nuance on how...
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Zaphod
@MinvstrD
Litigation or an injunction putting it under review, then trump concedes and agrees privately to have it held up. Most powerful though, congress removes executive power to make these decisions forever.
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Nuclear Henry George
@Henry_George63
We cannot. Truss had the threat of being removed. That’s not the case here. There aren’t the 2/3 votes to end the tariffs. Even if we do that, other countries won’t trust us on trade until a change in admin
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Moose
@mmoooose
Correct, impeachment and removal are the only way. Republicans either get in line and get it done or go home after 2026.
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jonathan_borowsky
@jonathanborows2
It would almost certainly greatly soothe markets if Trump, Vance, and Musk all resigned. Cannot imagine President Mike Johnson pulling this sort of bs.
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newtdis
@newtdis79798
The Supreme Court nullifies the law that grants Trump this authority, on non-delegation, major questions doctrine. No more authority, roll back tariffs to pre-liberation day, require bills passed by congress in future as per constitution.
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Leonard Ray
@LeonardRay6
Sacrifice someone to the market gods Maybe fire a treasury secretary? Or a trade representative? And at the same dime- pull back on the proposed tariff numbers- divide them by 3 or 4 Then take credit for the 7 percent rebound
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Jean
@betterltthannvr
Having a psycho gop Congress doesn’t help. We are gonna have to have a constitutional convention when we get out of this.
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Arctic
@neco_arctic
He resigns immediately, fires all of his guys, and lets someone, anyone else, in the Republican party take over
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Rob Chester
@Chester8Rob
In short, you can't because of the circumstances the Republicans have created. Checks and balances have been allowed to be dismantled. If you create an Emporer, be sure to choose wisely.
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josh
@josh_ag
If the house and senate impeached and convicted every cabinet member and the president and the new president announced an immediate and unconditional rescenion of every tariff added since january 20th by tomorrow...
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Bob Hotchkiss
@Bobthegoatroper
As soon as the exporters that service us panic enough, they will lift their tariffs. We will ease up, and the market will rebound.
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Rigden Stollen
@IDoDeclare83
No investors or other countries want to deal with 4 years of this. It hasn't even been 90 days. Impeach and remove. It is the only thing that can save the country. I give it a 1% chance.
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Bill Luby
@VIXandMore
Here is where the presence or absence of a parliamentary no confidence vote makes a big difference
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Olympic superfan
@Quaker2001
25th amendment. But I don't have any faith that Vance and the cabinet would dare to invoke that because then they'd just be incriminating themselves
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Keith Chaput
@keithchaput
This is our Liz Truss moment? We saw this coming while Trump was running. He ran on chaos economics: tax cuts for the rich, gutting regs, and tariffs. It wasn’t subtle. And yet, mainstream economists and centrists ignored what many on the economic left pointed out a yr ago.
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Nolan Stephenson
@nolan_BSG
Get 10 yr down, refinance debt, FED lowers rate, tariffs are lifted or greatly reduced, everything goes back to normal
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JMES
@JMES408
Congress is supposed to control the public purse, with respect to taxes and Tarifa they need to reassert authority. But the damage with trading partners is not good as the US can't be trusted to honour it's agreements.
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Lippy730
@Lippy730
It’s much different when UK interest rates went up forcing her hand. For Trump interest rates are going down helping his hand.
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insert name here
@nferno
With enough Republicans in Congress to grow a backbone and claw back Trump’s ability to unilaterally enact tariffs
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joshua fisher
@fishahhh
And then they got rid of truss after, what, 4 weeks? At least action was taken. Half of my community still thinks that trump is the most amazing human ever. It’s terrifying really. What a broken nation.
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Greenseer
@RavensThirdEye
There's always impeachment. I mean, have you ever seen such economic malpractice from any administration ever??
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TMeb
@WufpakRed
Same thing, he has to resign or Congress do their job and cancel the tariffs
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Inferno_Man
@Inferno_Man
Trump has 0 credibility now with Wall Street. He will have to reverse, but this is going to be a long miserable road.
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Yves Laurent
@sevynaturel
Thoughts and prayers ? Insurrection ? Civil war ? Try all 3 in that order. It's pretty much the only way out... Although, the first one is useless.
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MacroMaven
@RamonGo62661955
Great point. But the moral of the story? Someone always blinks. Mutually Assured Destruction (MAD) is in no one’s interest—and markets know it. Shorting the $VIX
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John Preston
@ArlanKels
The complete reversal of the tariffs, congress reseizing their tariff control power and making it so the President can't just upend the entire economy on a whim. That's step one.
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Sharon Almaguer
@RGVAggie
Trump has to go too. Trust between the administration, the markets and trading partners is broken. Until he leaves it will be constant uncertainty and chaos.
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libfederalist
@libfederalist
We can’t. This will be an economic disaster and when we come out of it, we will be weaker, mistrusted and no longer the center of the world Econ. We will be poorer and our tech giants weakened and hated.
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Peter Tarr
@ProfitsTaken
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Sarah Rosemary
@SarahRosemary3
and she didn't seek to punish the whole world nor the poorest nations within it and she was forced to resign as PM - by her own party in government! ( her own voters also wanted her out, her approval ratings sank like a stone with her own base, within days)
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