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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: Single best idea, I mean, across the arc of what

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Speaker 2: we've done for decades. This was truly an extraordinary day,

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Speaker 2: starting at about four point thirty yesterday afternoon, thanks to

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Speaker 2: Anne Marie Horden for a wonderful interview at a Secretary

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Speaker 2: of Treasurer. I was sort of dumbfounded listening to it,

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Speaker 2: not because of Anne Marie, but because of the line

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Speaker 2: from the White House. We followed that for John Farrow

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Speaker 2: and conversation today with the Secretary of Commerce Howard Lutnik.

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Speaker 2: The TAC we took, and thank you Joelivan's short notice

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Speaker 2: with his service to the first Trump administration. He's with

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Speaker 2: SMBC NICO, but far more importantly trying to talk to

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Speaker 2: people with legit academic and market experience across the arc

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Speaker 2: of our internet trade and of course all of this

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Speaker 2: starting I'm going to put it with the Atlantic Charter

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Speaker 2: of lessons learned back in the thirties and the twenties.

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Speaker 2: This in nineteen forty one and then World War Two,

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Speaker 2: the true development of our international trade policy, let's be

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Speaker 2: direct shattered. Yesterday afternoon we started strawing with Hoger Schmeting

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Speaker 2: a Behreenberg Bank, a wonderful voice, and you're great to

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Speaker 2: talk to him about Volkswagen with six hundred thousand employees,

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Speaker 2: his dynamics of Germany. But here is Hoger Schmedeting of Behrenberg.

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Speaker 3: On the moment, Europe will probably want to have the

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Speaker 3: market reaction, the reaction of US consumers registered with the

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Speaker 3: people who meet Donnald Trump.

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Speaker 1: On the golf course. Yeah, it will probably want that

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Speaker 1: so that the US hopefully will be more eager for

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Speaker 1: a deal. And in addition, Europe will threaten serious retaliation

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Speaker 1: without hitting the US now and then hopefully, say, within

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Speaker 1: the next two months, by the end of we hopefully

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Speaker 1: have negotiated some of this tariff madness away.

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Speaker 2: Alger Schmieding and barren burg Bank. We spoke to Doug Irwin,

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Speaker 2: of course, the academic of Dartmouth, this classic book Against

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Speaker 2: the Tide. I really recommend that as a foundational read

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Speaker 2: on all that's going on against the Tide. Douglas Irwin

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Speaker 2: from twenty five years ago, really coming out of his

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Speaker 2: academic works, graduate work, I should say now again at Dartmouth.

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Speaker 2: David Blancheflearer of Dartmouth with us tomorrow on Jobs Day,

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Speaker 2: but it was good to get perspective across the markets

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Speaker 2: in this economic moment from Ed yard Denny of Yard

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Speaker 2: Denny Research. He has brought down his optimism.

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Speaker 4: Well, I think up to now the assumption was that

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Speaker 4: the administration collectively knew what they were doing. But clearly

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Speaker 4: with the reaction of global stocking markets, that's not the case.

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Speaker 4: There is no vote of confidence anywhere, not even in

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Speaker 4: gold and what this administ station is doing. I mean,

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Speaker 4: as you said, there seems to be no place to hide,

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Speaker 4: and the only place to hide is to go to

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Speaker 4: the White House and tell the President and the administration

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Speaker 4: that this policy is just wrong.

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Speaker 2: We'll try to hide tomorrow with good conversation. It is

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Speaker 2: Jobs Day tomorrow. I was just talking with Sparta, who

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Speaker 2: drives a ship here, and you know, I said, I

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Speaker 2: don't know if this is a big jobs report because

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Speaker 2: it's so new, and maybe it has a little bit

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Speaker 2: of President Biden in it as well. But well, I'll

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Speaker 2: tell you the May Jobs report, May second, the June

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Speaker 2: Jobs report June sixth, they will be something. Please stay

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Speaker 2: with us on your commute across the nation. Good Morning

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Speaker 2: ninety nine one FM in Washington ninety two nine FM

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Speaker 2: and Boston. No, I'm not going to Boston tomorrow for

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Speaker 2: Opening Day. I got other things to do. But nevertheless,

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Speaker 2: Opening Day in Boston tomorrow is a good thing. We're

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Speaker 2: on YouTube, subscribe to Bloomberg podcasts and on YouTube podcasts.

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Speaker 2: Single best sen