Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Photo: Olivier Douliery-Pool/Getty Images
House Speaker Paul Ryan's office has blasted out a CNBC story about President Trump's steel and aluminum tariffs spooking the stock market.
Why it matters: There are still a number of senior officials, both inside the administration and on Capitol Hill, who hold out hope that continued declines in the stock market could spook Trump out of broad-based tariffs. They hope he'll narrow them and exempt allies such as Canada. They know Trump's fetish for the stock market, and hope that the president sensing an end to his record-breaking run will get him to reconsider.
AshLee Strong, Ryan’s spokeswoman: “We are extremely worried about the consequences of a trade war and are urging the White House to not advance with this plan. The new tax reform law has boosted the economy and we certainly don't want to jeopardize those gains.”