...if you know anything about the constitutional principles, DOJ guidelines, and AG positions in play.
"target" is a person as to whom the prosecutor or the grand jury has substantial evidence linking him or her to the commission of a crime and who, in the judgment of the prosecutor, is a putative defendant. An officer or employee of an organization which is a target is not automatically considered a target even if such officer's or employee's conduct contributed to the commission of the crime by the target organization. The same lack of automatic target status holds true for organizations which employ, or employed, an officer or employee who is a target.
A "subject" of an investigation is a person whose conduct is within the scope of the grand jury's investigation.
DOJ Guideline 9-11.151
See also
https://biotech.law.lsu.edu/blaw/olc..._president.htm
https://www.justice.gov/olc/opinion/...al-prosecution
(AG memo on indicting sitting President, Oct. 16, 2000)
A sitting President is one who is in office. A sitting President almost certainly cannot be indicted, and the DOJ's view has been and remains that a President cannot be indicted. Meanwhile, the DOJ guidelines specify that a "target" is a "putative defendant." Add the two together and you see that a sitting President cannot be considered a "putative defendant" and therefore cannot be considered a "target". Hence, Mueller's announcement that Trump is not a "target" is meaningless.
He can be indicted after leaving office and is no longer a "sitting President".
Announcing that he isn't a target means nothing since no sitting President could ever be a target, by definition.