Charlottesville, VA (CVILLE RIGHT NOW) – Professor Ed Burton of the University of Virginia says President Trump may be backing away from his strict tariff policies, a move that has already begun to ease economic tension between the U.S. and China. On Morning News, Burton noted the market’s quick response to the president’s remarks. “The market is up 5%… that’s a pretty good recovery,” he said, highlighting the potential for further gains if the administration continues to pull back on tariffs. 

Burton didn’t hold back in his assessment of the tariff strategy, calling it a “nightmare” that the president created himself. “Americans pay all these tariffs, and it hits them hard,” he explained, stressing that everyday consumers are shouldering the burden, not foreign governments. He added that the trade war has negatively affected Trump’s approval ratings, with recent polls showing a dip in public support. 

On the topic of Federal Reserve Chairman Jerome Powell, Burton argued that removing him would be a major error. “Politically and economically if he would remove Powell, the dollar would take a big hit,” he said, warning of global economic repercussions. Still, Burton remains hopeful, saying that a shift back toward free trade and stable economic leadership could help restore confidence in both the markets and the presidency. 

Listen to the full conversation here: