Investors Leave Meeting Unconvinced by Trump Adviser’s Tariff Discussion

Stephen Miran, economic adviser to Donald Trump, addressed leading investors regarding the president's trade policies in a recent meeting at the White House. Key points include:

Attendees included representatives from Citadel, BlackRock, PGIM, and Citigroup.
Miran's responses were described as unclear and unconvincing by several participants.
The meeting followed market turmoil due to Trump's new tariffs announced on April 2.
10-year Treasury yields rose to 4.59% before easing to 4.17% after a 90-day tariff pause.
Most investors left unconvinced about the administration's trade direction.
Miran reiterated that tariffs primarily target other countries, not US consumers, but acknowledged potential revenue generation.
Past proposals from Miran, including weakening the dollar and foreign funding for US defense, have caused investor unease.
Sources indicate he is distancing himself from previous positions, described as a "full-scale retreat."