As soon as the stock market jumped on Wednesday, it was sizzling as Trump couldn’t wait to take the accolades. But after the sharp dip in the market on Thursday because of his tariff reversal, he had to yield to Secretary of Treasury Scott Bessent. “Scott, do you want to have a statement on that?” Trump queried, which positioned Bessent in quite the predicament. Bessent defending the erratic movements of the market with “the up 2, down 1, is not a bad ratio—or up 10, down 5” did little to lessen the tension everyone was feeling.
The 90-Day Gamble: Whose Influence Is Strongest?
The focus for the following three months, ahead of the July 8th deadline for pausing tariffs, will focus on waiting to see who’s the real master over Trump’s trade policy. Bessent, who seems to have taken the blame for forcing Trump to step back from the impending economic meltdown, seems to be the main source of reason. Nonetheless, trade hardliner Peter Navarro continues to be a dominant player, even if he seems to have lost some ground in the latest decision.
Navarro’s Defiance: “The Boss Calls”
Navarro, who missed Trump’s last decision-making meeting, shrugged off questions on his influence. “It doesn’t matter who was in the room. The boss calls and whatever. That’s not the point.” Navarro explained that no matter the team’s views, they make certain to furnish Trump “with the appropriate set of advice.”
“Angels and Demons”: A Disparate Team
Trump has done nothing but put together an economic team that has been described as ‘angels and demons,’ in which they indulge him with opposing counsel, in this case on trade. They are the ones that came up with tracking his impulses despite the economic costs. Remarkably, there is little internal dissent because Trump is still the recipient of his ‘I know better’ heuristics. “Somebody had to pull the trigger,” Trump said and added, “I was willing to pull the trigger.”
Echoes of the Past: A Familiar Dynamic
This team looks like a repeat of the first-term nightmare of ‘Wall Street,’ represented by Bessent and National Economic Council Director Kevin Hassett versus ‘the trade warriors’ of Navarro, Commerce Secretary Lutnick, and Stephen Miller. Unlike his previous advisors, the current team has made it clear they are not interested in changing Trump’s mind.
“Trump chooses, and they act,” remarked White House staff.
Messaging Mishaps: The Frustration and the Fallout
Lots of poor coordination overshadowed the initial rollout of the tariff plan, most particularly concerning the TV appearances of specific team members like Lutnick. In the end, strong calls from foreign leaders and domineering corporate suits shaped the direction of Trump’s decision, illustrating the duelling factors of his preference for hands-on involvement in negotiations. “He just loves this shit,” a senior White House advisor said. “Getting to talk deals with the most powerful people in the world when he’s got all the cards and all the leverage? That’s air for him.”
Navarro’s Resilience: “Peak Peter”
Contrary to popular belief, the now-controversial Navarro continues to be among the staunchest supporters of Trump. As for advisor interfaces, Navarro zeros in, and he stated, “We, we work together beautifully. I mean, Scotty is one of my best friends.” Still, he is regarded as too polarising. “These tariffs? This is peak Peter,” remarked a former White House official.
Bessent’s Role: A Reluctant Messenger
Trump’s inner circle has recently welcomed Bessent, who has been characterised as “astonishing” yet “comforting” by Dolan’s longtime associate. Bessent, downplaying his influence on Trump, said, “He and I had a long talk on Sunday, and this was his strategy all along.”
