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Speaker 1: You're listening to the Saturday Morning with Jack Team podcast

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Speaker 1: from News Talks at b.

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Speaker 2: Well, let's be honest, Donald Trump has been right before.

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Speaker 2: There are occasions where he's come out with something seemingly crazy,

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Speaker 2: something totally bananas, earning him all the ire and ridicule

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Speaker 2: of the expert class and the media, only to maybe

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Speaker 2: be proven right over time. The one that springs to

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Speaker 2: mind is the travel band with China shortly after COVID

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Speaker 2: nineteen took off. One minute he was being rinsed for it.

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Speaker 2: The next well, everyone had a travel band with China.

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Speaker 2: That being said, it is so hard to see how

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Speaker 2: his extraordinary move this week is going to work out

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Speaker 2: as he says it will. Overnight. China has reacted to

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Speaker 2: Trump's tariff plan with Retalia tree tariffs. Yes, the trade

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Speaker 2: war has kicked off. Sheer markets around the world. World

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Speaker 2: have continued to shed trillions of dollars in value. That's

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Speaker 2: trillions with a tr trillions in value, thousands of billions

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Speaker 2: of dollars. Today is not the day for checking your

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Speaker 2: key we saver balance. I can assure you of that.

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Speaker 2: But even as the US Federal Reserve says America should

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Speaker 2: expect slower economic growth and higher inflation. The White House

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Speaker 2: insists Donald Trump's plan is working. One of the curious

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Speaker 2: things about this term as president is how little Trump

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Speaker 2: has seemed to care about the stock market. Remember his

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Speaker 2: first term as president, Anything that hurt share prices elicited

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Speaker 2: an immediate backdown, and Trump constantly bragged about how he

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Speaker 2: had the strongest economy. Ever, it just feels like it's

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Speaker 2: going to be extremely difficult to make that argument when

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Speaker 2: everything or almost everything, costs more. Still, if we've learned

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Speaker 2: anything from the past, it shouldn't be that sometimes Trump

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Speaker 2: is right to buck conventional wisdom. If we've learned anything

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Speaker 2: it's that in the absurd, polarized world we now live in,

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Speaker 2: personality and teams are much more important than facts. This

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Speaker 2: applies to many of Trump's opponents as well, people on

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Speaker 2: the absolute opposite end of the political spectrum, such as

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Speaker 2: the nature of polarization. We're always right, we're never wrong,

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Speaker 2: and Trump's keenest cheer leaders are so slavishly loyal many

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Speaker 2: refuse to even acknowledge the most obvious objective failings. So

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Speaker 2: his team accidentally messaged war plans to a journalist. Well,

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Speaker 2: we'll just insist they weren't classified. So he's slapped tariffs

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Speaker 2: on uninhabited sub Antarctic islands. Of course he has. Those

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Speaker 2: penguins have been getting away with murder, you know, murder

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Speaker 2: for decades now. So he's kicked off a global trade

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Speaker 2: war that'll leave the majority of US worst off. Fantastic,

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Speaker 2: all part of the genius. It's a full game to

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Speaker 2: try and predict Donald Trump's next move, But for the

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Speaker 2: little it's worth. My best guess, and it is just

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Speaker 2: that a guess is that none of these tariffs are

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Speaker 2: set in stone. Countries are going to try and plicate him.

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Speaker 2: Companies in the US are going to try and negotiate

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Speaker 2: their own little carve outs. If you're a company that

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Speaker 2: relies on bringing in some mineral from China and you

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Speaker 2: need that to develop your industry, you're going to go

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Speaker 2: and knock on the door at Pennsylvania Avenue and ask

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Speaker 2: Donald Trump for a little bit of special treatment. And

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Speaker 2: Donald Trump is going to absolutely love picking favorites. That

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Speaker 2: being said, his approach will lurch all over the place,

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Speaker 2: defined only by spur of the moment, whims and incoherence.

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Speaker 2: Regardless of what happens, Trump will claim success his supporters

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Speaker 2: will agree, and the global order looks that much more unstable.

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Speaker 1: For more from Saturday Morning with Jack Tame, listen live

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Speaker 1: to News Talks at B from nine am Saturday, or

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