White House Denies Axios' Report Which Denied Reuters Report About Trump's Border Tax

Tyler Durden's picture

Around noon today, retail stocks jumped after Axios reported that Trump's econ advisor Gary Cohn was opposing a House version of the Border Adjustment Tax, giving hope to retailers who were battered following yesterday's Reuters interview in which Trump said that he supports "some form" of border tax. 

The result, as we observed earlier, was a  mirror image of yesterday's retail selloff, "as now the market no longer has to fear Trump's tweets, but his staggering position reversals, now coming inside the span of a day."


In retrospect the market had nothing to fear, because shortly after its origianl report on BAT, Axios followed up with a second report, according to which the White House denies the original report on Cohn's BAT statement, and says that Trump's position is unchanged from what he said yesterday.

"There is no daylight between Gary Cohn and the President. His comment was taken out of context as it was part of a broader conversation about the proposals that are connected to border adjustability. At no point during this conversation did Gary make a statement of support or opposition to the House border adjustability plan."

Axios adds that the White House declined to make audio of Cohn's comments available to Axios, citing the agreed-upon confidentiality of Cohn's remarks.

While it is likely that the XRT has again tumbled on the news, at this point neither we, nor anyone else car, and we will simply wait for the next fake news market moving event before posting any more charts.

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SloMoe's picture

So, neither a flip nor a flop?

UnclePhester's picture
UnclePhester (not verified) SloMoe Feb 24, 2017 3:25 PM

Chew or Choose? It's up to yewse.

NugginFuts's picture


UnclePhester's picture
UnclePhester (not verified) NugginFuts Feb 24, 2017 3:55 PM

The "leaker" is AMISH, of that there is no doubt. The Old Order Amish Bankster Cartel is not just going to CHOOSE to give up power.


Chew on that!



Life of Illusion's picture

The comment was made while Cohn was being interviewed by The Carlyle Group CEO David Rubenstein, at a private event hosted by The Business Council in Washington, D.C.



CG must be first in the know, ya know ,,,winning first,, He first winning,,,,

private winning,, never changes,, its great winning,, great David your gonna be winning first.

all good for all,,

Son of Loki's picture

So didn't say she didn't say they would not be doing what they said they wouldn't do?

SloMoe's picture

Like chasing an errant mackerel around a wet deck...

pound the vix's picture

They realized it was not an options expiration Friday so the more was not needed

Yen Cross's picture

  That's why these assholes need to keep their mouths shut.[until they have something factual and concrete to report]

     They're worse than a herd of geriatric women at a bingo parlor.

  The farce is strong today. Equities just went parabolic on the m-1 chart. What a fucking joke!  Ohh and the $usd is also bid after the shity housing news.

  BTFI --- Buy The Fucking Insanity<

NugginFuts's picture

Wall of Worry is more like Wall of WTF!!!!

SidSays's picture

"Wall of WTF"...



BigFatUglyBubble's picture

But woe to you who are rich, for you have already received your comfort.

Woe to you who are well fed now, for you will hunger.

Woe to you who laugh now, for you will mourn and weep.

SidSays's picture



The WOE is everywhere these days, no?

What's up with all of the WOE?

jamesmmu's picture

I have to admitted that Trump did save the market today. 

NugginFuts's picture

how exactly?

In the back of my mind are the words "Buy the rumor, sell the news..." Trump is spreading the "tax cut/stimulus/yuuuge growth" rumors like poo in a pasture. What happens when we get actual news?

rejected's picture

Ford is still moving to Mehico,,, Carrier is already there,,, GM is still selling Mehican cars in the US...Mehicans still coming into the US.,,, The US is still in the ME and Ukraine. No easing tensions with Russia, build up of American forces still ongoing along their border. Carriers floating around poking the Dragon. No serious discussion eliminating Obama Care. Repungnicans won't send a repeal bill like they did under Obama knowing it would be vetoed. The Tax cuts were to happen after Obama Care was repealed which may be several decades off.

Yes,,, Change we can believe in, the sequel.

Insurrexion's picture



Sue the Media.

Make them prove their story is true.

Make them prove their sources.

MuffDiver69's picture

Something has to be done before missiles are flying

Squid Viscous's picture

there is no daylight between Gary Cohn and a shiny copper penny, Reuters apologizes for the mis-reporting