Trump’s strategy is not without risk, but I wouldn’t bet against him. The more that markets support the President and his strategy, the higher the probability that he succeeds, so a stable hand on the trading wheel is a patriotic one. An important characteristic of a great leader is a willingness to change course when the facts change or when the initial strategy is not working. We have seen Trump do this before. Two days in, however, it is much too early to form a view about his tariff strategy. Trump cares enormously about our economy and the stock market as a measure of his performance. If the current strategy works, he will continue to execute on it. If it needs to be tweaked or changed, I expect he will make the necessary changes. Based on the early read, his strategy appears to be working. Let’s help him succeed. It’s the least we can do.
