Veteran CEO: Donald Trump’s unpredictable approach to tariffs is failing

Wall Street Reacts to Growing Concerns Over Trump’s Economic Approach

Discussions about a potential downturn linked to Trump’s policies are intensifying among financial professionals and corporate leaders.

“We’re witnessing disorder. President Trump missed a critical chance to shift his economic strategy toward job creation and investment, rather than focusing on tariffs. The current tariff strategy is failing,” commented Bill George, former CEO of Medtronic and experienced board member, during an appearance on Yahoo Finance’s Opening Bid.

Setbacks for Trump’s Team

Recent developments have not favored Trump’s administration. On February 20, the Supreme Court invalidated the majority of the president’s broad tariff measures, ruling 6-3 that he does not have the authority to impose tariffs under the 1977 emergency powers statute.

The court clarified that the International Emergency Economic Powers Act (IEEPA) does not grant permission for tariffs, emphasizing that the power to levy taxes belongs to Congress, not the president.

Further reading: Latest updates on Trump’s tariffs

Trump’s Response and Market Uncertainty

In response to the ruling, Trump expressed outrage, labeling the decision as a betrayal. He quickly enacted a new 10% global tariff and later announced via Truth Social his intention to increase it to a “fully permitted and legally tested” 15%.

According to Goldman Sachs, this additional tariff is expected to remain until late July, after which longer-term and potentially higher tariffs could be implemented under Section 301.

Jim Reid, a strategist at Deutsche Bank, noted, “Despite the initial market relief at the clarity of a 10% tariff, there remains significant uncertainty.”

Broader Economic Challenges

Beyond the tariff disputes, the U.S. economy experienced a notable slowdown in the final quarter of 2025, partly due to a government shutdown. Inflation reached a yearly peak of 2.9% in December, and the Federal Reserve is unlikely to reduce interest rates soon.

Additionally, the administration’s supportive stance toward the cryptocurrency sector has not revived interest in bitcoin (BTC-USD) in 2026, as the digital asset continues to struggle in a bear market.

Business Leaders Face Uncertainty

Bill George observed that the business sector is currently at a standstill following the tariff ruling.

“If I were leading a company, I’d hesitate to make any moves because the tariff situation is so unclear,” George explained. “There were six changes just over the weekend, making it impossible to calculate costs by country. I can’t determine whether to invest domestically or abroad, or how to manage shipping and imports. The environment is extremely unpredictable.”

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