Welcome to the show, everybody.

The tariffs and the trade war are on.

We are going to spend a bunch of time today talking about it.

Let me mention, by the way, I appreciate the concern from last week that I am ill, that

I have taken ill and that I am sick because of the

coloring and shine under my eyes. I just have kind of crappy lighting when I'm on the road

and I'm still trying to find the right setup for travel where the lighting looks better

but I don't have to stuff my suitcase full of multiple

lights. So in any case, I'm going to continue, but I appreciate the concern. I am feeling fine.

Let's get into it. Over the weekend, President Donald Trump signed an order slapping, power

slapping, a 10% tariff on imports

from China, additional onto what was already there, a whopping 25% on goods from Mexico

and Canada, that includes oil, that includes natural gas, that includes electricity from Canada,

and this triggered immediate retaliation from Canada, matching Donald Trump's tariffs with their own

on about $155 billion worth of American imports.

This is a trade war that echoes the same chaotic approach from Donald Trump's first term, where

the tough talk and the unilateral nonsensical action soured relationships that took decades to build. We'll get into the

relationships part in a little bit. Now, I've said before, and I am going to say it again,

trade policy doesn't have to be a zero-sum game. Tariffs aren't objectively bad. The question is, what are we trying to achieve

and what is the dynamic effect going to be once we account for how our trading partners may or

will retaliate? Now, you know, we saw booing of the American, the U.S. national anthem at multiple Canadian sporting events over the weekend.

We'll get to that later.

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