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The administration wants to show that their policy is having the desired effect that they promised voters, that they'd repatriate, redomesticate production, manufacturing, etc. The policy seems to be working in the sense that the overall market is getting used to the volatility. That's the ultimate measure.
Trump is doing something no administration's ever done before. Look at this India situation. He's basically saying, "If you do things I don't like, I'm gonna limit your access to the world's largest consumer market." And the thing he doesn't like about India right now is importing Russian oil and reselling it for a profit, so he wants to squeeze two heads at once, the India prime minister and Putin. Similarly, Switzerland doesn't have a deal and I'm really concerned about Switzerland. I'm a watch guy and right now we're looking at 49 per- 49% tariffs. Not good.
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