Whos Got Trumps Ear on Tariffs? Lutnick or Navarro?

ImageWho’s in the room President Trump’s tariff policy has given corporate chiefs and investors a serious case of whiplash.While the markets cheered on Wednesday’s delay on auto sector levies, setting off an impressive late-day rally, the move also adds to the confusion about what comes next.The latest: There’s increasing buzz that agricultural products are next in line for tariff relief, as the president faces intense lobbying from his party.

And the release on Wednesday of the Fed’s beige book survey of regional activity showed that companies were growing worried that the levies would push up prices.One school of thought on Trump’s tariff plans: they could level the field before negotiations.Trump himself sees them as a tool to bolster the U.S.

economy.A way to think about this is to look at the people in his orbit.On tariffs, there are two key, and seemingly polar opposite, figures.There’s Howard Lutnick, the former head of Cantor Fitzgerald who is a moderate on trade and now commerce secretary.

And there is Peter Navarro, a longtime Trump lieutenant and a proponent of high tariffs who is generally opposed to trade deals.Who has more influence? For now, it seems to be Lutnick.Trump’s announcement of a one-month pause on tariffs on cars coming through Canada and Mexico wouldn’t have surprised anyone who heard Lutnick’s comments earlier in the day.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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