Weekly Newsletter: The White House calls it “the most ambitious economic realignment” in decades but markets are in turmoil. Tell us what you think about President Trump's Liberation Day tariffs.

<<<RSVP FOR OUR CALL WITH PAUL HORVATH, ONE OF THE MOST INFORMED AND INSIGHTFUL LEADERS ON THE ECONOMIC AND GEOPOLITICAL CONSEQUENCES OF THE INITIATIVES COMING OUT OF WASHINGTON>>> ([link removed] )

John,

The White House called this week’s tariff announcement the “most ambitious economic realignment the American people have ever seen.” It is hard to disagree. To help our community make sense of it all, No Labels is hosting a special call next Tuesday, April 8, at 5:00 PM ET with Orchard Global CEO Paul Horvath, an exceptional leader with decades of experience navigating the intersection of financial markets and politics. You can sign up here. ([link removed] )

In the wake of President Trump announcing a 10% global baseline tariff, plus reciprocal tariffs on 60 countries, financial markets are reeling, and many are fearing skyrocketing inflation or even a global recession.

Much of the uncertainty has come from the White House’s failure to properly explain its rationale – but a recent interview ([link removed] ) with Commerce Secretary Howard Lutnick offered a window into their thinking.

Lutnick explained that America had a longstanding policy of “low tariffs here, high tariffs there” in prior generations, but it changed after World War II when we lowered our tariffs while other countries raised theirs. You can see a timeline of this history here ([link removed] ) .

According to Lutnick, the United States is being taken advantage of, with countries like India having tariff rates of 50% while the U.S. has rates of 4%. “There is no country in this world that is free trade,” he argued. “Everybody else is higher and more protective.”

The administration believes raising tariffs will bring back jobs and lead to an American manufacturing renaissance, while also raising as much as $700 billion in annual revenues that can be used to balance our budget.

Lutnick provides a good summary of the administration’s position, but even some in President Trump’s own party are skeptical that the tariffs will have their desired effect. You can read more about the case for and against tariffs in our post here ([link removed] ) .

Yesterday, four Republican Senators – Sens. Rand Paul (KY), Susan Collins (ME), Lisa Murkowski (AK) and Mitch McConnell (KY) – joined Democrats in voting for a resolution to undo the 25% tariffs on Canadian imports.

The resolution does not have the force of law, which raises an interesting issue that we explained ([link removed] ) earlier this week: Congress forfeited its control over tariffs to the executive long ago, leaving it largely powerless in the current debate.

So what can leaders do who want to engage productively? They can start by presenting alternative ideas to accomplish the two primary goals of President Trump’s trade policy: to reshore American jobs and raise revenues to reduce the deficits and debt.

You cannot fight something with nothing. We need more leaders to offer alternatives that would achieve these aims. Otherwise, the president’s ideas are the only game in town.

The tariff debate is complicated and deeply disruptive – like almost everything in this current moment. It is why you will not want to miss our call on Tuesday, April 8, at 5:00 PM ET with Orchard Global CEO Paul Horvath, an exceptional leader with decades of experience navigating the intersection of financial markets and politics. He will explain how and why the White House is making so many risky and ambitious moves to reshape government, the economy, and the global security environment.

CLICK HERE TO RSVP FOR THE CALL ▸
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As always, thank you for being a part of our movement.

Sincerely,

Dan Webb

No Labels Board

No Labels Call with Paul Horvath ([link removed] )

Tuesday, April 8th at 5 PM ET

Orchard Global CEO Paul Horvath has spent decades successfully navigating financial markets and making sense of complex policy developments. Tune in to hear his take on how President Trump’s recent tariff announcement fits into a broader White House strategy to reorder the U.S. economy and the global security environment.

RSVP HERE ▸
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No Labels Call with Dr. John Diamond ([link removed] )

Wednesday, April 9th at 3:30 PM ET

Join No Labels for a live call as we walk through our latest DOGE Discussion Guide and hear from Dr. John Diamond, one of the nation’s leading experts on tax and budget policy. Dr. Diamond is a senior fellow at the Baker Institute, CEO of Tax Policy Advisers, and has testified before Congress on the economic impact of spending and entitlement reform. He will help us break down the numbers, the tradeoffs, and the stakes.

RSVP HERE ▸
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What Democrats can learn from Ruben Gallego ([link removed] )

By Nancy Jacobson

Arizona was supposed to be a narrowly contested swing state in 2024, but President Trump carried it by a comfortable 5.5% margin. How, then, did Democratic Rep. Ruben Gallego (D-AZ) triumph in the state’s open Senate race against his Trump-aligned opponent?

FULL ARTICLE ▸
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Trump is neglecting moderates Harsh partisanship hurts presidents ([link removed] )

By Henry Olson

If Trump continues down this road, he runs the risk of doing exactly what each of his predecessors have done for the past 30-plus years. Bill Clinton, George W. Bush, Barack Obama, Joe Biden: each leader won by ostentatiously appealing to the centre, only to tack hard to the Left or Right once safely in office or, in Bush’s case, re-elected. The presidents’ parties always suffered as a result, either relinquishing control of Congress in horrific midterm losses, or failing to keep hold of the White House.

FULL ARTICLE ▸
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Will the Decline of Mainstream Parties Come to America? ([link removed] )

By David Faris

Since the Great Recession that began in 2008, many mainstream parties that have dominated political life in democracies like the United Kingdom and Germany have lost vote share and enthusiasm to upstart populist parties. This trend has transcended left-right divides in that parties on both sides of the spectrum have seen gains in many countries, as dissatisfaction with platforms and governance records of existing parties has intensified.

FULL ARTICLE ▸
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What Are Tariffs? A Short Primer ([link removed] )

By Sam Zickar

Everything you need to know about tariffs and how they impact trade.

CONTINUE READING ▸
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What Trump’s “Reciprocal Tariffs” Could Cost You in the Short Term ([link removed] )

By Peyton Lofton

We ran the numbers so you don’t have to.

LEARN MORE ▸
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Help Grow the Commonsense Movement! ([link removed] )

We need your help, pitch in $3 or whatever you can to keep this movement growing. Your contributions go directly towards our efforts to support problem solving in America and bring common sense to Washington.

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