This belief seems to disregard the fact that the billionaire crowd hates markets being spooked far more than it cares about 10 year Treasury yields (which in any case went up precisely because markets were spooked; if you wanted to do something about reducing long term bond yields, committing to just about any other economic policy would be more credible). Even some of the most sycophantic billionaires were evidently furious about the tariff policy.
Also, Trump has been obsessed with the idea of tariffs since the 1980s.
Also, Trump has been obsessed with the idea of tariffs since the 1980s.