Fox Biz reporter pushes back on Trump tariff narrative.

the art of the deals all over the Twitter sphere right now as people say I mean maybe this is the way he planned it to John’s point Charlie about the Treasury Secretary saying maybe you could say that he goaded China into a bad position for themselves don’t retaliate things will work out well he said I mean I want to tell you right now that Donald Trump outsmarted the world trust me I’m an American I support my president but that’s not really what happened here from what I understand and I know I’ll get pushed back but here’s what it is first off we should point out that one of the good things about this is that Scott Besson is finally in the White House he’s finally leading this I mean up until a couple days ago it was Lutnick it was Peter Navarro the Commerce Secretary the Trade Advisor very much Hawks now it’s Scott Besson who believes in cutting deals as opposed to you know just not not you know just putting these tariffs out there and let’s be a mercantilistic economy that’s number one but number two let’s recall what happened overnight and from what I understand and I’m getting this from people that are talking to the White House the what happened in the bond market overnight the spike in yields on the 30-year and the 10-year bond which showed that people were dumping our bonds and who are those people dumping our bonds Japan the biggest holder of bonds was selling bonds that’s what I’m getting from some very big money managers China maybe to some extent but it was largely Japan and others if you have a mass sale of bonds that means people are losing confidence in the US economy on the ability to do deals with us and from what I understand this is what forced the hand of this 90-day reprieve now is it a good thing you know are people coming to the table yeah but if you know if you read between the lines or not even with what Scott Besson said we have no deals right there’s nobody that is really there saying this is what we’re gonna do and they paused it anyway so my thing that said well I’ll give you this there is some art of the deal here and by the way brilliant move by putting China in the corner but that’s a whole separate thing because remember that’s a very difficult negotiation everybody else is a lot easier they really wanted they do want to deal with us whether they want to be you know forced into really bad trade deals on their end is a whole other negotiating story but make no mistake about it you cannot divorce this decision right here from what happened last night which was you know I and people focus on the stock market all the time it’s the bond market and the sort of lending markets that’s the plumbing of the economy and those markets were imploding last night and that’s why we have a 90-day 90-day freeze