Few would argue with the claim that President Trump’s tariff policy is chaotic.
In early April 2025, Trump announced sweeping tariffs on all U.S. trading partners, including a 10% blanket tariff and higher rates for specific countries like China (145%) and Canada (25%). Just a few days later, however, he rolled back many of these tariffs, citing the need for "flexibility".
Again this past weekend, Trump announced major changes—this time targeting the tech industry. Products like smartphones, laptops, hard drives, and semiconductors were suddenly exempted from the 125% tariffs he had imposed on Chinese imports just a week earlier. But these exemptions are temporary, the administration noted, hinting at future tariffs that target semiconductors and other electronics.
The uncertainty has rattled business leaders. Last week, JPMorgan Chase CEO Jamie Dimon warned that the lack of clarity could push the U.S. into a recession if trade deals aren't finalized swiftly. Walmart CEO Doug McMillon also highlighted the challenges of navigating the instability caused by these policies.
“ There’s no strategy here... zero, ” said Michael Cohen, a longtime Trump confidante-turned-critic who testified against him in his Manhattan hush money trial. “This isn’t about strategy, this is about brute force... and dictating demands.”
Cohen is not alone. Michael Strain, an economist with the American Enterprise Institute, believes that Trump has no coherent policy, saying, “People are trying to figure out what game of five-dimensional chess the president is playing and I don’t think there is one. I don’t think he knows what he’s doing and he’s making mistakes and making this up as he goes along.”
But while many worry about the chaos and suggest Trump has no idea what he is doing, could this actually be part of Trump’s “Art of the Deal”?
For years, many have described Trump’s negotiating style as chaotic and unpredictable and have suggested this is an intentional strategy to gain leverage in the tariff negotiations. This approach aligns with a negotiating approach known as "chaos negotiating," where unpredictability is used as a tool to unsettle adversaries as a way to push for favorable outcomes.
Proponents of this method believe it can be a calculated way to shift power dynamics. Critics argue it creates confusion and can backfire. In truth, it may be a bit of both. Many academics believe that negotiators are better off setting specific and clear goals when negotiating, although others believe that improvisation and even chaos are powerful methods as well. Thomas Green, a managing director at Citigroup Global Markets, believes that embracing chaos can be advantageous at the bargaining table. Admittedly, Green's approach challenges conventional wisdom; “I’ve learned to make chaos my friend in negotiations,” says Green. He played a pivotal role in negotiating the $350 billion settlement of lawsuits against major U.S. tobacco companies and used this approach as the team leveraged the unpredictability of the situation to outmaneuver the opposition. The negotiation demonstrated how chaos, when managed effectively, can be a powerful tool in negotiations.
Of course, no one can really know what Trump is thinking and perhaps that is his goal. David Bahnsen, the founder, managing partner, and chief investment officer of The Bahnsen Group suggested this, saying: “There is a certain chaotic dimension to this that lends itself to uncertainty.” Part of it is that President Trump likes that style. I do not think he has liked the last 4 or 5 days, and I think that's where this announcement is coming from. But investors that are trying to trade around this should be extremely careful unless they think they're inside the President's mind. I'd be very careful thinking you know what President Trump's going to do next, when I can assure you that he doesn't know what he's going to do next.”
So, what will become of this latest round of tariffs—and the complex web of negotiations they’re fueling? Will Trump’s unpredictability give him leverage or will it weaken the United States' credibility and negotiating power? The truth is, no one knows. The long-term implications for trust in U.S. trade policy and the stability of strategic partnerships remain uncertain.
However, Yogi Berra, a famous baseball player known for his witty and paradoxical sayings, might have summed it all up best for what the future holds for the U.S. tariff policy:
“It is very difficult to make predictions—especially about the future.”
When it comes to Trump’s tariff policy that certainly rings true.
David Nevins is co-publisher of The Fulcrum and co-founder and board chairman of the Bridge Alliance Education Fund.
U.S. Secretary of State Marco Rubio delivers a keynote speech at the 62nd Munich Security Conference on Saturday, Feb. 14, 2026, in Munich, Germany.
Marco Rubio is the only adult left in the room
Finally free from the demands of being chief archivist of the United States, secretary of state, national security adviser and unofficial viceroy of Venezuela, Marco Rubio made his way to the Munich Security Conference last weekend to deliver a major address.
I shouldn’t make fun. Rubio, unlike so many major figures in this administration, is a bona fide serious person. Indeed, that’s why President Trump keeps piling responsibilities on him. Rubio knows what he’s talking about and cares about policy. He is hardly a free agent; Trump is still president after all. But in an administration full of people willing to act like social media trolls, Rubio stands out for being serious. And I welcome that.
But just because Rubio made a serious argument, that doesn’t mean it was wholly persuasive. Part of his goal was to repair some of the damage done by his boss, who not long ago threatened to blow up the North Atlantic alliance by snatching Greenland away from Denmark. Rubio’s conciliatory language was welcome, but it hardly set things right.
Whether it was his intent or not, Rubio had more success in offering a contrast with Vice President JD Vance, who used the Munich conference last year as a platform to insult allies and provide fan service to his followers on X. Rubio’s speech was the one Vance should have given, if the goal was to offer a serious argument about Trump’s “vision” for the Western alliance. I put “vision” in scare quotes because it’s unclear to me that Trump actually has one, but the broader MAGA crowd is desperate to construct a coherent theory of their case.
So what’s that case? That Western Civilization is a real thing, America is not only part of it but also its leader, and it will do the hard things required to fix it.
In Rubio’s story, America and Europe embraced policies in the 1990s that amounted to the “managed decline” of the West. European governments were free riders on America’s military might and allowed their defense capabilities to atrophy as they funded bloated welfare states and inefficient regulatory regimes. Free trade, mass migration and an infatuation with “the rules-based global order” eroded national sovereignty, undermined the “cohesion of our societies” and fueled the “de-industrialization” of our economies. The remedy for these things? Reversing course on those policies and embracing the hard reality that strength and power drive events on the global stage.
“The fundamental question we must answer at the outset is what exactly are we defending,” Rubio said, “because armies do not fight for abstractions. Armies fight for a people; armies fight for a nation. Armies fight for a way of life.”
I agree with some of this — to a point. And, honestly, given how refreshing it is to hear a grown-up argument from this administration, it feels churlish to quibble.
But, for starters, the simple fact is that Western Civilization is an abstraction, and so are nations and peoples. And that’s fine. Abstractions — like love, patriotism, moral principles, justice — are really important. Our “way of life” is largely defined and understood through abstractions: freedom, the American dream, democracy, etc. What is the “Great” in Make America Great Again, if not an abstraction?
This is important because the administration’s defenders ridicule or dismiss any principled objection critics raise as fastidious gitchy-goo eggheadery. Trump tramples the rule of law, pardons cronies, tries to steal an election and violates free market principles willy-nilly. And if you complain, it’s because you’re a goody-goody fool.
As White House Deputy Chief of Staff Stephen Miller said not long ago, “we live in a world … that is governed by strength, that is governed by force, that is governed by power. These are the iron laws of the world that have existed since the beginning of time.” Rubio said it better, but it’s the same idea.
There are other problems with Rubio’s story. At the start of the 1990s, the EU’s economy was 9% bigger than ours. In 2025 we were nearly twice as rich as Europe. If Europe was “ripping us off,” they have a funny way of showing it. America hasn’t “deindustrialized.” The manufacturing sector has grown during all of this decline, though not as much as the service sector, where we are a behemoth. We have shed manufacturing jobs, but that has more to do with automation than immigration. Moreover, the trends Rubio describes are not unique to America. Manufacturing tends to shrink as countries get richer.
That’s an important point because Rubio, like his boss, blames all of our economic problems on bad politicians and pretends that good politicians can fix them through sheer force of will.
I think Rubio is wrong, but I salute him for making his case seriously.
Jonah Goldberg is editor-in-chief of The Dispatch and the host of The Remnant podcast. His Twitter handle is @JonahDispatch.